HUD: Secretary Turner Announces Newly Available Funds to Expand the Tribal HUD-VASH Program
Additional funding builds on successful rental assistance program for Native American veterans U.S. Housing and Urban Development (HUD) Secretary Scott Turner today announced $2.2 million in new available funding under the Tribal HUD-Veterans Affairs Supportive Housing (VASH) program. This program delivers critical rental assistance for Native American veterans who are – or who are risk…
Agencies Withdraw Joint Statements on Crypto-Assets
Today, the Federal Deposit Insurance Corporation, together with the Board of Governors of the Federal Reserve System (collectively, the agencies), has withdrawn two joint statements regarding banking organizations’ crypto-asset-related activities. This action is intended to provide clarity that banking organizations may engage in permissible crypto-asset activities and provide products and services to persons and firms engaged…
Federal Reserve: Withdrawal of Guidance for Banks Related to Their Crypto-Asset and Dollar Token Activities and Related to Its Expectations for These Activities Announced
The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities. These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system. The Board is rescinding its 2022 supervisory…
ABA: Treasury Secretary Bessent Partners with ABA Foundation to Promote “Teach Children to Save Day”
Secretary Bessent records video message for students, teachers and banker volunteers participating in the ABA Foundation’s 28th annual Teach Children to Save Day Demonstrating his strong commitment to promoting financial literacy, Treasury Secretary Scott Bessent is partnering with the ABA Foundation in support of its annual Teach Children to Save program. As part of Teach Children…
ICBA: ICBA Continues Call to End Tax Breaks for Largest Credit Unions Following Latest Community Bank Acquisition
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement following the latest acquisition of a tax-paying community bank by a tax-exempt credit union. “Following last year’s record number of community bank acquisitions by tax-exempt credit unions, the latest deal further demonstrates why the growing skepticism of credit union tax and…
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 Captial 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…
FDIC: Approach to Resolution Planning for Large Banks Modified
The FDIC today took action to modify its approach to insured depository institution (IDI) resolution planning. The purpose of this action is to focus the IDI resolution planning process on the operational information most relevant for the FDIC to (1) resolve a large bank through a weekend sale or (2) operate the institution for a…
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…
ABA: New Survey Finds Americans Overwhelmingly Support Financial Education in Schools
A new survey conducted by Morning Consult on behalf of the American Bankers Association Foundation found U.S. adults strongly support youth financial education being taught in schools. According to the data released today, nearly nine-in-10 consumers (87%) agree that financial concepts should be taught in high school and 72% believe they would be better off…