FDIC: Fulton Bank, NA of Lancaster, PA Assumes Substantially All Deposits of Republic First Bank, Philadelphia
Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank, National Association of Lancaster, Pennsylvania to assume substantially all of the deposits and…
FDIC: Five New Members Named to Advisory Committee on Community Banking
May 2nd meeting to address a wide range of community banking issues The Federal Deposit Insurance Corporation (FDIC) today announced five new members of the agency’s Advisory Committee on Community Banking: Composed of a cross-section of community bankers from around the country, the FDIC’s Advisory Committee shares input on a broad range of community bank…
ABA: Bank Volunteers Celebrate National Financial Literacy Month with New Teach Children to Save Lessons
April 25th marks ABA Foundation’s 27th annual Teach Children to Save Day On April 25th, bank employees will deliver financial literacy lessons to K-8 students across the nation as part of the ABA Foundation’s 2024 Teach Children to Save Day. The annual Teach Children to Save campaign is a centerpiece of the banking industry’s longstanding commitment…
FDIC: Four Banker Named to Minority Depository Institutions Subcommittee
May 1st meeting to address key challenges and opportunities for minority banks The Federal Deposit Insurance Corporation (FDIC) today announced four new members of the agency’s Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking: On May 1, 2024, the MDI Subcommittee will meet to share insights into key challenges and opportunities…
CFPB: Guidance Issued to Combat Junk Fees by Mortgage Servicers
Homeowners forced to pay for “services” that were prohibited or unauthorized The Consumer Financial Protection Bureau (CFPB) today published an edition of Supervisory Highlights describing the agency’s actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. CFPB examinations found servicers charging illegal junk fees, such as prohibited property inspection fees; sending…
SBA: National Small Business Week Virtual Summit Schedule Announced
Attendees Can Participate in Educational Workshops, Network, and Learn about Federal Resources Today, the U.S. Small Business Administration (SBA) and SCORE, mentors to America’s small businesses and a resource partner of the SBA, announced the schedule for the 2024 National Small Business Week Virtual Summit. The two-day online event, co-hosted by the SBA and SCORE, will take place…
FHFA: FHLBank and CDFI Symposium Scheduled for June 20th in Washington, DC
The Federal Housing Finance Agency (FHFA) today announced that it will host a Federal Home Loan Bank (FHLBank) and Community Development Financial Institution (CDFI) Symposium in Washington, D.C., on Thursday, June 20, 2024. “CDFIs have a relationship-focused approach that enables them to reach individuals who have limited housing options, in a safe and sound manner,”…
FHFA: New Product Notice Published for Freddie Mac Second Mortgage Proposal
Today, the Federal Housing Finance Agency (FHFA) sent to the Federal Register a notice of a proposed new product from Freddie Mac to begin purchasing certain single-family closed-end second mortgages. “The proposed activity is intended to provide homeowners with a cost-effective alternative for accessing the equity in their homes,” said FHFA Director Sandra L. Thompson….
SBA: Digital Hub Launches to Connect Small Businesses with Major Funding Under the Investing in America Agenda
Hub Details Billions of Dollars in Grants, Contracts, and Market Opportunities Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the launch of the SBA’s new Investing in America Small Business Hub, the first and only digital portal of its…
SBA: 2024 Small Business Investment Companies of the Year Recognized
Awardees from Connecticut and Pennsylvania to be Honored During National Small Business Week Ceremony in Washington, DC Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognized Argosy Private Equity of Wayne, Pa. and Mizzen Capital, LP of Stamford, Conn. as the…