HUD: Secretary Scott Turner Visits Atlanta to Witness How Opportunity Zones Are Spurring Growth, Expanding Housing Affordability
U.S. Housing and Urban Development (HUD) Secretary Scott Turner visited Centennial Yards in Atlanta, an expansive 50-acre mixed use development located within one of the city’s Opportunity Zones. Secretary Turner and stakeholders toured the site, including several new residential and commercial properties under construction, and met with key partners to discuss how the project is…
Federal Reserve: Board Releases Information Regarding Enhancements to Bank Supervision
The Federal Reserve Board on Tuesday released information regarding enhancements to bank supervision. The new supervisory operating principles were provided to all Federal Reserve supervisory leadership and staff and are intended to focus Federal Reserve examiners on material financial risks threatening the safety and soundness of banks and on taking timely, proportionate action to ensure…
OCC: Agency Confirms Bank Authority to Hold Certain Crypto-Assets as Principal for Purposes of Paying Crypto-Asset Network Fees
The Office of the Comptroller of the Currency (OCC) today confirmed permissible bank activities related to paying crypto-asset network fees. The OCC published Interpretive Letter 1186 confirming that a national bank may pay network fees, sometimes referred to as “gas fees,” on blockchain networks to facilitate otherwise permissible activities and hold, as principal, amounts of…
ABA: National Survey Finds Bank Customers Continue to Use Mobile Apps More Than Any Other Channel to Manage Their Accounts
Results also show 95% of Americans think highly of their bank’s digital banking experience For the sixth year in a row, U.S. consumers are conducting their banking via mobile apps more than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The national survey found…
Federal Bank Regulatory Agencies Release 2024 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2024. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate reports of small business and small farm lending…
SBA: Shutdown Blocks SBA from Delivering $5 Billion to Small Businesses
10,000 Small Businesses Lost Access to SBA-Guaranteed Capital During Funding Lapse Today, the U.S. Small Business Administration (SBA) announced the cumulative impact of the federal shutdown on its small business lending programs. For fiscal year 2025 (FY25), the agency guaranteed a record 84,400 7(a) and 504 loans, delivering $45 billion to Main Street thanks to a historic demand for…
HUD: Treasury and HUD Build on First Lady Melania Trump’s Fostering the Future Initiative for Foster Youth
Agencies Commit to Equipping Foster Youth with Strong Financial Literacy Foundation In accordance with President Donald J. Trump’s Executive Order (EO) on “Fostering the Future for American Children and Families,” First Lady Melania Trump today announced the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury (Treasury) will hold roundtables with foster…
HUD: Secretary Scott Turner Leads Monumental Reforms to Homlessness Program
HUD, HHS, and White House Faith Office Execute on President Trump’s Executive Order “Ending Crime and Disorder on America’s Streets” U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced $3.9 billion in competitive grant funding through HUD’s FY 2025 Continuum of Care (CoC) Competition Notice of Funding Opportunity (NOFO). This announcement, with…
CFPB: Small Business Lending Data Collection Proposed Rule Issued to Revise Section 1071 Requirements
The Consumer Financial Protection Bureau (CFPB or Bureau) proposes revisions to certain provisions of Regulation B, subpart B, implementing changes to the Equal Credit Opportunity Act made by section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Bureau is reconsidering coverage of certain credit transactions and financial institutions; the small business…
ICBA: New ICBA White Paper Calls on Policymakers to Close Industrial Loan Company Loophole
The Independent Community Bankers of America (ICBA) today released a comprehensive white paper detailing why policymakers should close a legal loophole that allows industrial loan companies and their parent companies to skirt regulatory oversight, endangering consumers and the economy. In “Closing the Industrial Loan Company Loophole: An Urgent Priority to Prevent Systemic Risk and Consumer Harm,” ICBA…