FDIC: Report Released Detailing Supervision of the Former First Republic Bank, San Francisco, CA
Today, Federal Deposit Insurance Corporation (FDIC) Chief Risk Officer Marshall Gentry released FDIC’s Supervision of First Republic Bank, an internal review evaluating the agency’s supervision of First Republic Bank, San Francisco, California, from 2018 until its failure in May 2023. The report provides information on the causes of First Republic Bank’s failure and evaluates the FDIC’s…
ABA: Board & Officers for 2023-2024 Nominated
The American Bankers Association’s Nominating Committee has finalized the official slate of candidates to be presented for election at the association’s annual meeting scheduled for October 8-10 in Nashville, Tenn. The committee, chaired by A. Scott Anderson, president and CEO, Zions Bank, Salt Lake City, nominated these candidates for ABA officer positions: The committee also…
FEMA: President Biden Approves Major Disaster Declaration for Maine
FEMA announced that federal disaster assistance has been made available to the state of Maine to supplement recovery efforts in the areas affected by a severe storm and flooding on June 26, 2023. Public assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing…
FEMA: President Biden Approves Major Disaster Declaration for Georgia
FEMA announced that federal disaster assistance has been made available to the state of Georgia to supplement recovery efforts in the areas affected by Hurricane Idalia on Aug. 30, 2023. The President’s action makes federal funding available to affected individuals in Cook, Glynn and Lowndes counties. Assistance can include grants for temporary housing and home…
SBA: Nearly $40 Million in Disaster Assistance Loans Provided to Those Impacted by Maui Wildfires
Today, SBA Administrator Isabella Casillas Guzman announced that the U.S. Small Business Administration (SBA) has approved nearly $40 million in federal disaster loans for Hawaii business owners and residents impacted by wildfires that began August 8. The SBA, through its Disaster Field Operations Center West (FOCW), has approved nearly $8 million for businesses and more than $30 million for homeowners…
SBA: Call for Nominations Announced for 2024 National Small Business Week Awards
Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced the call for nominations for the 2024 National Small Business Week (NSBW) Awards. The NSBW Awards recognize the outstanding achievements, triumphs, contributions, and resilience of SBA-assisted small businesses that help to drive the American economy. “Small businesses…
EDA: $2 Million Invested to Expand Construction Industry Workforce Development in Converse County, WY
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to Converse County, Wyoming, to expand the workforce training lab at Eastern Wyoming College in Douglas. This grant will support construction of a building addition to house new classrooms, administrative space, and a wood technology…
EDA: $1.6 Million Invested to Support Industrial Technology Workforce Development in Rock Hill, SC
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to York Technical College in Rock Hill, South Carolina, to support workforce development and job creation in the industrial sector. This grant will support the procurement of equipment necessary to upgrade and expand training capacity…
CFPB: New Report Highlights Role of Big Tech Firms in Mobile Payments
Apple and Google set regulations on “tap-to-pay” which can impact innovation and competition The Consumer Financial Protection Bureau (CFPB) published a new issue spotlight highlighting the impacts of Big Tech companies’ policies and practices that govern tap-to-pay on mobile devices like smartphones and watches. Apple currently forbids banks and payment apps from accessing the tap-to-pay…
FEMA: President Biden Approves Major Disaster Declaration for Maine
FEMA announced that federal disaster assistance has been made available to the state of Maine to supplement recovery efforts in the areas affected by a severe storm and flooding on June 29, 2023. Public assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing…