FDIC: First Independence Bank, Detroit, MI, Assumes All Deposits of Metropolitan Capital Bank & Trust, Chicago, IL
Metropolitan Capital Bank & Trust was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with First Independence Bank to assume substantially all deposits of Metropolitan Capital Bank & Trust. Metropolitan Capital Bank &…
ICBA: ICBA Strongly Supports Senate Bill to Close Industrial Loan Company Loophole
The Independent Community Bankers of America (ICBA) today expressed its strong support for bipartisan legislation to close the industrial loan company (ILC) loophole, which allows commercial companies to own full-service banks without full regulatory oversight. A loophole in the Bank Holding Company Act allows commercial and fintech companies to own or acquire ILCs chartered in…
FEMA: More Than $2.2 Billion in Additional Federal Funding Unlocked to Rebuild Communities Hit by Past Disasters
Today, Department of Homeland Security Secretary Kristi Noem announced more than $2.2 billion in disaster relief funding to support ongoing recovery efforts from a variety of natural disasters. “This investment will repair and restore critical public infrastructure across the country, including schools, public safety facilities, utilities and community services,” said Secretary Noem. “American communities are rebuilding…
FEMA: Over $867 Million Approved to Support Disaster Recovery in Arkansas, Louisiana, New Mexico, Oklahoma and Texas
Under the leadership of President Trump and Secretary Noem, FEMA recently approved 546 projects worth more than $867 million in funding to support recovery for disasters in Arkansas, Louisiana, New Mexico, Oklahoma and Texas for Public Assistance projects. These projects include debris removal, emergency protective measures and the repair or replacement of public infrastructure damaged…
FEMA: DHS Leads Historic, Nationwide Response as Winter Storm Slams 12 States at Once
In one of the most expansive and severe winter weather emergencies in recent history, a powerful storm system simultaneously impacted 12 states, triggering rapid federal action to protect American lives, infrastructure and communities. At the direction of President Donald J. Trump, Department of Homeland Security (DHS) Secretary Kristi Noem led an immediate, coordinated response funneling…
FEMA: $86 Million Approved to Support Disaster Recovery in New Jersey
Under the leadership of President Trump and Secretary Noem, FEMA recently approved more than $86 million in funding to support recovery for past disasters in New Jersey for Public Assistance projects, which includes debris removal, emergency protective measures and the repair or replacement of public infrastructure damaged by recent disasters. This regional funding is part…
FEMA: $56 Million Approved to Support Disaster Recovery in New York
Under the leadership of President Trump and Secretary Noem, FEMA recently approved nearly $56 million in funding to support recovery for past disasters in New York for Public Assistance projects, which includes emergency protective measures and the repair or replacement of public infrastructure damaged by recent disasters. This regional funding is part of a broader…
FEMA: $105 Million Approved to Support Disaster Recovery in New England
Under the leadership of President Trump and Secretary Noem, FEMA recently approved $105 million in funding to support recovery for past disasters in five Region 1 states for Public Assistance projects, which includes debris removal, emergency protective measures and the repair or replacement of public infrastructure damaged by recent disasters. This regional funding is part…
FEMA: $19 Million Approved to Support Disaster Recovery in Pennsylvania, Virginia and West Virginia
Under the leadership of President Trump and Secretary Noem, FEMA recently approved $19,585,828.05 in funding to support recovery for past disasters in Pennsylvania, Virginia and West Virginia for Public Assistance projects, which includes debris removal, emergency protective measures and the repair or replacement of public infrastructure damaged by recent disasters. This regional funding is part…
FEMA: $4 Million Approved to Support Indiana Recovery
Under the leadership of President Trump and Secretary Noem, FEMA announced today more than $4 million in federal grant funding to support the state of Indiana as it leads community recovery from severe storms, tornadoes and flooding in Spring 2025. This funding helps cover road repair, critical infrastructure restoration and other emergency actions taken…