SBA: 5th Annual Mentor-Protege Conference Scheduled Next Week to Connect Small Businesses with Federal Contract Opportunities

The U.S. Small Business Administration will host its Mentor-Protégé Conference on November 12-13 at the DoubleTree Hotel in Arlington, Va. The conference will give small businesses access to guidance on federal contracting, face-to-face meetings and opportunities to team with larger businesses and graduates of the SBA’s 8(a) Business Development program.  “It’s important […]

SBA: Celebrating National Veterans Small Business Week 2019

Veteran-owned businesses contribute nearly $1 trillion each year to U.S. The U.S. Small Business Administration will celebrate the accomplishments of veteran, service member, and military spouse small business owners nationwide during National Veterans Small Business Week, Nov. 4-8. “This week is dedicated to celebrating the nation’s 2.5 million veteran-owned businesses who contribute nearly […]

FHFA: Input Requested on Fannie Mae and Freddie Mac UMBS Pooling Practices

The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) about Fannie Mae’s and Freddie Mac’s (the Enterprises’) pooling practices for the formation of “To-Be-Announced” (TBA)-eligible Uniform Mortgage-Backed Securities (UMBS).  FHFA is also seeking public input about other policies and practices that might affect UMBS fungibility, including […]

FDIC: Industrial Bank Assumes All of the Deposits of City National Bank of New Jersey

City National Bank of New Jersey (“City National”) in Newark was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Industrial Bank in Washington, D.C. […]

HUD: $1.5 Million Awarded to Public Housing Authorities to Assist Young People Aging Out of Foster Care

U.S. Housing and Urban Development (HUD) Secretary Ben Carson today awarded $1.5 million to nearly a dozen housing authorities to assist young people aging out of foster care and who are at risk of experiencing homelessness. See chart here. Funded through HUD’s new Foster Youth to Independence (FYI) Initiative, this funding […]

SBA: Public Input Sought on Potential Changes to SBA’s Export Loan Program

The U.S. Small Business Administration published an Advanced Notice of Proposed Rulemaking that seeks comments on potential changes to the regulations governing its Export Loan Programs.  SBA’s Export Loan Programs provide access to capital for U.S. small business concerns to support expansion into international markets and the growth of U.S. small business exports.  […]

ABA: US Chamber Foundation and ABA Partner to Expand Bank Hiring Opportunities for Veterans

Community Banks Encouraged to Participate in Hiring Our Heroes Program A new partnership between the American Bankers Association and the US Chamber of Commerce Foundation will expand veteran hiring opportunities at banks across the nation. The partnership, announced at the ABA’s annual convention in Seattle, will enable more community banks […]

ABA: Seattle Banker Elected as New ABA Chair

Today the American Bankers Association elected Laura Lee “Laurie” Stewart as its chair for the 2019-2020 association year. The election took place during ABA’s annual convention in Seattle. Stewart is also president and CEO of Sound Financial Bancorp, Inc., and Sound Community Bank, a $717 million institution based in Seattle. […]

ABA: 2019-2020 Officers Board Elected

Members attending the American Bankers Association’s annual convention in Seattle have elected new ABA officers and directors to serve on ABA’s board for the 2019–2020 association year. The new officers are: CHAIR: Laura Lee (Laurie) Stewart, president and CEO, Sound Community Bank, Seattle; CHAIRMAN-ELECT: James J. Edwards, Jr., CEO, United […]

HUD: Justice Department and HUD Sign Interagency Memorandum on the Application of the False Claims Act

Agreement Fulfills Key component of HUD Housing Finance Reform Plan U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr today issued a Memorandum of Understanding (MOU) between the two agencies that sets prudential guidance on the appropriate use of the False Claims Act (FCA) for […]