SBA: Agency Reinstates Robust Loan Underwriting Criteria for 7(a) Program to End Era of Irresponsible Lending
Today, the U.S. Small Business Administration (SBA) announced it will eliminate a package of Biden-era policies which dramatically reduced underwriting standards within the 7(a) loan program, sacrificing its financial integrity and driving up taxpayer liability. Under the leadership of Administrator Kelly Loeffler, the SBA is restoring robust rules to end the era of reckless lending – preserving access…
OCC: Conditional Approval Announced for Capital One, National Association to Acquire Discover Bank
The Office of the Comptroller of the Currency (OCC) announced today that it has conditionally approved the merger of Discover Bank, Greenwood, Delaware, into Capital One, National Association, McLean, Virginia. The OCC conducted a fulsome review of the application submitted March 21, 2024, to ensure all statutory and regulatory requirements have been met. The approval…
HUD: HUD and GSA Announce Collaborative Effort to Identify New Headquarters for U.S. Department of Housing and Urban Development
Secretary Turner pushes for more appropriately-sized and financially sound HUD HQ Today, the U.S. Department of Housing and Urban Development (HUD) and the U.S. General Services Administration (GSA) announced the addition of HUD headquarters to the accelerated disposition list in order to engage the market and explore HUD’s relocation options. Currently, HUD is located in…
ICBA: ICBA Urges OCC to Preserve Dedicated Supervision for Community Banks
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement in opposition to the Office of the Comptroller of the Currency’s announced decision to merge its community, midsize, and large bank supervision functions into a single line of business. “As policymakers continue to call for stronger safeguards in financial oversight,…
OCC: Organization Structure Changes Announced to Combine Midsize and Community Bank Supervision and Large Bank Supervision Functions Effective June 2, 2025
The Office of the Comptroller of the Currency (OCC) today announced changes to its organizational structure to ensure its approach to supervision evolves to better address today’s challenges, align similar functions within the agency, and leverage opportunities for efficiencies. The OCC will combine the Midsize and Community Bank Supervision and Large Bank Supervision functions to…
OCC: Acting Comptroller of the Currency Discusses Agency Priorities
Acting Comptroller of the Currency Rodney E. Hood today discussed strategic areas of focus for the Office of the Comptroller of the Currency (OCC) in remarks at the Exchequer Club. In his remarks, Acting Comptroller Hood detailed the OCC’s efforts to reduce regulatory burden; promote financial inclusion; embrace bank-fintech partnerships; and expand responsible bank activities…
ICBA: ICBA Urges End to Tax Exemption for Billion-Dollar Credit Unions After Another Community Bank Acquisition
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement in response to the latest acquisition of a tax-paying community bank by a tax-exempt credit union. As Congress considers tax reform, ICBA continues to call for eliminating the federal tax exemption for credit unions with more than $1 billion in assets…
SBA: Full List of 2025 National Small Business Week Co-sponsors Announced
SCORE, the Nation’s Largest Network of Volunteer Business Mentors, Will Co-Host Virtual Summit Today, the U.S. Small Business Administration announced its cosponsors for the 2025 National Small Business Week, taking place May 4-10. SCORE, mentors to America’s small businesses and an SBA resource partner, will co-host this year’s National Small Business Week Virtual Summit, a free online event May…
OCC: Agency Releases Letter on Information Security Incident to Supervised Institutions
The Office of the Comptroller of the Currency (OCC) today publicly released a letter sent to its supervised institutions regarding unauthorized access to OCC email systems. The OCC provided public notice of the unauthorized access and its designation as a major information security incident on April 8, 2025. The OCC is committed to taking all actions to…
HUD: Secretary Scott Turner Commemorates Fair Housing Month
Championing Faith, Freedom, and Fair Housing for all Americans U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today recognized April as Fair Housing Month, unveiling this year’s theme: “Faith, Freedom, & Fair Housing.” Secretary Turner marked the historical milestone with a message reaffirming HUD’s responsibility to uphold the Fair Housing Act and…