SBA: Administrator Loeffler Orders Full-Scale Audit of SBA 8(a) Contracting Program
Investigation will refer fraud, bribery for enforcement Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), announced that she has directed the SBA’s Office of General Contracting and Business Development to launch an immediate and full-scale audit of the agency’s 8(a) Business Development Program after a U.S. Department of Justice (DOJ) investigation uncovered a years-long fraud and…
HUD: Red Tape Slashed to Cut Homeownership Financing Costs
FHA eliminates 12 costly and burdensome policies in sweeping rollback U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the Federal Housing Administration (FHA) is rescinding more than 12 sub-regulatory policies under its Single Family mortgage insurance program. These sweeping changes cut red tape, help reduce the cost of homeownership, and eliminate…
FDIC: Coleman County State Bank (Coleman, TX) Acquires Insured Deposits of The Santa Anna National Bank (Santa Anna, TX)
The Santa Anna National Bank of Santa Anna, Texas, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Coleman County State Bank of Coleman, Texas, to assume the insured deposits and some…
OCC: FDIC Appointed as Receiver for The Santa Anna National Bank of Santa Anna, Texas
The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for The Santa Anna National Bank, Santa Anna, Texas. As of March 31, 2025, the bank reported approximately $77 million in total assets. The OCC acted after finding the bank had experienced substantial dissipation of assets…
Federal Reserve: Governor Barr Delivers Speech on Community Development at the Federal Reserve
Following is the text of Governor Barr’s speech: Community Development at the Federal Reserve Governor Michael S. Barr At the Policy Summit 2025: Building Strong and Sustainable Communities, hosted by the Federal Reserve Bank of Cleveland, Cleveland, Ohio Thank you, Eric, thank you to the conference organizers for asking me to speak today, and thank…
HUD: New Headquarters Announced in Alexandria, Virginia
Relocation from Failing Federal Facility Marks New Era Defined by Promotion of Excellence, Prioritization of Health and Safety, and Efficient Use of Taxpayer Dollars U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the relocation of HUD headquarters from the Robert C. Weaver Federal Building to 2415 Eisenhower Avenue in Alexandria, Virginia….
ABA: New Treasury Check Verification Tool Launches to Help Banking Industry Fight Fraud
New free online platform allows member banks to more easily verify payee information for government checks using the Treasury Department’s Treasury Check Verification System As a part of the American Bankers Association’s ongoing commitment to support banks of all sizes and their customers in the fight against fraud, ABA today launched a new online platform…
HUD: Secretary Turner Moves to Eliminate FHA Green Housing Mandate
Issues Directive to Level all Multifamily Mortgage Insurance Premium Categories to 25 Basis Points, Ending the Green and Energy Efficient Category U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today announced the Federal Housing Administration (FHA) will propose an across-the-board leveling of its Upfront Capitalized and Annual Mortgage Insurance Premiums (MIPs) to…
Federal Reserve: Reputational Risk Removed as Component of Examination Programs in Bank Supervision
The Federal Reserve Board on Monday announced that reputational risk will no longer be a component of examination programs in its supervision of banks. The Board has started the process of reviewing and removing references to reputation and reputational risk from its supervisory materials, including examination manuals, and, where appropriate, replacing those references with more…
CDFI Fund: CDFI Certification Application “Hot Topics” Webinar Scheduled for June 26th
The CDFI Fund’s monthly Certification webinars, which are intended to serve as a forum for potential CDFI Certification Applicants, Certified CDFIs, and other CDFI Certification stakeholders to ask questions and discuss CDFI Certification and the CDFI Certification process, have been scheduled for calendar year 2025. The webinars are open to the general public and do…