Agencies Issue 2024 Shared National Credit Program
Federal bank regulatory agencies today reported in the 2024 Shared National Credit (SNC) report that credit risk associated with large, syndicated bank loans remains moderate. However, the agencies noted weakened credit quality trends continue due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors. The agencies…
OCC: Agency Clarifies Bank Authority to Engage in Certain Cryptocurrency Activities
The Office of the Comptroller of the Currency (OCC) today took action to reaffirm that a range of cryptocurrency activities are permissible in the federal banking system. The OCC published Interpretive Letter 1183 to confirm that crypto-asset custody, certain stablecoin activities, and participation in independent node verification networks such as distributed ledger are permissible for…
ABA: Bank Economists See Emerging Risks to Growth and Inflation
While the American Bankers Association’s Economic Advisory Committee expects continued economic growth, the committee’s latest forecast released today recognizes risks emanating from policy changes and uncertainty. Additionally, the Federal Reserve is likely to face significant challenges in returning inflation to its 2% target, according to the group. The committee, composed of 16 chief economists from…
ICBA: ICBA Applauds Treasury Secretary Bessent for Pro-Community Bank Remarks and Support for Independence of Prudential Banking Regulators
The Independent Community Bankers of America (ICBA) today applauded Treasury Secretary Scott Bessent for his remarks supporting community banks and committing to the continued independence of the nation’s prudential banking regulators and dual banking system. “ICBA and the nation’s community banks strongly support Secretary Bessent’s remarks on the positive role of community banks to Main…
SBA: Administrator Loeffler Announces SBA Reforms to Put American Citizens First
SBA will require citizenship verification for loan applications, relocate regional offices out of sanctuary cities Today, U.S. Small Business Administration Administrator Kelly Loeffler announced a series of reforms to put American citizens first by ending taxpayer benefits for illegal aliens and moving SBA offices out of sanctuary cities. These actions support President Trump’s agenda to secure our…
HUD: Foreclosure Relief Extended to Californians Impacted by Los Angeles County Wildfires
HUD Secretary Scott Turner announces 90-day extension of foreclosure moratorium on Federal Housing Administration (FHA) single family mortgages in impacted areas Today, the U.S. Department of Housing and Urban Development (HUD) is announcing a 90-day extension of its foreclosure moratorium on Federal Housing Administration (FHA)-insured single family mortgages in the areas of Los Angeles County,…
ABA: ABA Applauds Vote to Invalidate CFPB Overdraft Rule
“We applaud the House Financial Services Committee’s vote to invalidate the CFPB’s misguided overdraft rule and look forward to seeing the House consider the resolution soon. The Bureau’s rule was flawed and unlawful from the start, and went against the wishes of a strong majority of Americans who have repeatedly indicated that they value and appreciate overdraft…
ICBA: ICBA Strongly Supports Bipartisan ACRE Act Offering Lower-Cost Credit to Rural Americans
The Independent Community Bankers of America (ICBA) today expressed strong support for the introduction of the Access to Credit for our Rural Economy (ACRE) Act to support farmers, ranchers, and rural homeowners. The bipartisan bill introduced by Sens. Jerry Moran (R-Kan.) and Angus King (D-Maine) in the Senate and Reps. Randy Feenstra (R-Iowa) and Don…
HUD and Census Bureau: New Residential Sales Report for January 2025 Issued
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for January 2025: New Home SalesSales of new single-family houses in January 2025 were at a seasonally adjusted annual rate of 657,000, according to estimates released jointly today by the U.S. Census Bureau…