OCC: Comments Requested on Proposed Rules to Update Activities and Operations and Digitial Activities
The Office of the Comptroller of the Currency (OCC) today released two issuances for public comment. The OCC published a Notice of Proposed Rulemaking (NPR) for public comment to update its rules for national bank and federal savings association activities and operations. The agency also released an Advance Notice of Proposed Rulemaking (ANPR) seeking comment…
FHFA: Final Rule Published on the FHLBank’s Housing Goals
Rule provides greater availability of mortgage financing for underserved borrowers To help underserved borrowers, the Federal Housing Finance Agency (FHFA) today sent to the Federal Register for publication a final rule on the Federal Home Loan Banks’ (FHLBanks) Housing Goals. The new goals take effect in 2021 and enforcement of the rule will be phased…
FHFA: Re-Proposed Capital Rule for Fannie Mae and Freddie Mac Released
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comments on a notice of proposed rulemaking that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises). The proposed rule is a re-proposal of the notice of proposed rulemaking published in July 2018. Comments will be due 60…
OCC: Final Rule Issued to Strengthen and Modernize CRA Regulations
The Office of the Comptroller of the Currency (OCC) today released a final rule strengthening and modernizing the agency’s regulations under the Community Reinvestment Act (CRA). The final rule will increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant need for credit, more responsible lending, and greater access…
SBA: New Regulations Issued for Women-Owned Small Business Federal Contracting Program
The U.S. Small Business Administration today published Women-Owned Small Business Federal Contracting program regulations that will provide a free, online certification and eligibility application process for women-owned small businesses and economically-disadvantaged women-owned small businesses. The timeline for implementation of changes to SBA’s WOSB program has been delayed to accommodate those affected by the current pandemic. Starting July 15, 2020, SBA will…
Federal Reserve: Rule Change Announced to Bolster the Effectiveness of the SBA’s Paycheck Protection Program
The Federal Reserve Board on Friday announced a rule change to bolster the effectiveness of the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). The change will temporarily modify the Board’s rules so that certain bank directors and shareholders can apply for PPP loans for their small businesses. To prevent favoritism, Board rules limit the…
CFPB: Final Rule Issued Raising Data Reporting Thresholds Under HMDA
The Consumer Financial Protection Bureau (Bureau) issued a final rule raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act (HMDA). The final rule, amending Regulation C, increases the permanent threshold for collecting and reporting data about closed-end mortgage loans from 25 to 100 loans effective July 1, 2020….
CDFI Fund: Request for Public Comment – CDFI Program, NACA Program and NMTC Program Annual Reports
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund),…
FHFA: Request for Input on Federal Home Loan Bank Membership Issued
Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on Federal Home Loan Bank (FHLBank) membership. The RFI, part of a holistic review of FHLBank membership, seeks public input on whether FHFA’s existing regulation on FHLBank membership ensures the FHLBank System, consistent with statutory requirements, remains safe and sound, provides liquidity…
FDIC: FDiTech Releases New Guide to Help FinTechs Connect with Banks
FDIC seeks to promote innovation in banking to meet growing consumer demand In its continuing effort to encourage technological innovation in the banking sector, the Federal Deposit Insurance Corporation’s technology lab (FDiTech) is releasing a new guide to help financial technology companies and others partner with banks. Conducting Business with Banks: A Guide for Third…