FDIC: Proposed Rule Issued to Strengthen Resolution Planning for Large Banks
Action part of broader work among regulators to improve resolution of large regional banks The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking to strengthen resolution planning for insured depository institutions (IDIs) with at least $100 billion in total assets. In addition, the FDIC’s Board joined with other…
Agencies Request Comment on Proposed Rule to Require Large Banks to Maintain Long-Term Debt to Improve Financial Stability and Resolution
Federal bank regulatory agencies today requested comment on a proposal that would require large banks with total assets of $100 billion or more to maintain a layer of long-term debt, which would improve financial stability by increasing the resolvability and resiliency of such institutions. This proposal follows an advance notice of proposed rulemaking issued in…
FHFA: U.S. House Prices Rise 3.0 Percent over the Last Year; Up 1.7 Percent from the First Quarter 2023
U.S. house prices rose 3.0 percent between the second quarters of 2022 and 2023, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 1.7 percent compared to the first quarter of 2023. FHFA’s seasonally adjusted monthly index for June was up 0.3 percent from May. “U.S. house prices appreciated at a slightly higher…
EDA: $2.5 Million Invested for Water Infrastructure Improvements to Support Aluminum Manufacturing Industry in Bay Minette, AL
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.5 million grant to North Baldwin Utilities in Bay Minette, Alabama, for water infrastructure upgrades to support a new aluminum manufacturing facility and create jobs in the region. This investment will support construction of an elevated water tank…
EDA: $742,180 Invested to Expand Truck Driver Workforce Training Efforts in Fitzgerald, GA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $742,180 grant to Wiregrass Georgia Technical College in Fitzgerald, Georgia, to enhance their truck driver training program and support job creation in the region. This grant will bolster the aims of the Biden Administration’s Trucking Action Plan to grow and strengthen America’s…
FEMA: President Biden Approves Major Disaster Declaration for Burns Paiute Tribe
FEMA announced today that federal disaster assistance has been made available to the Burns Paiute Tribe to supplement response and recovery efforts due to severe storms, flooding, landslides and mudslides from June 11-12, 2023. Public assistance federal funding is available to the tribe and certain private nonprofit organizations on a cost-sharing basis for emergency work…
FEMA: President Biden Approves Emergency Declaration for Florida
FEMA announced today that federal disaster assistance has been made available to the state of Florida to supplement state, tribal and local response efforts due to emergency conditions resulting from Tropical Storm Idalia beginning Aug. 27, 2023, and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts to alleviate the hardship and suffering…
FEMA: Nearly $3 Billion in Project Selections Announced to Help Communities Build Resilience to Climate Change and Extreme Weather Events
dditional Funding from the President’s Investing in America Agenda Enables Major Program Expansion, with 23 States Selected for the First Time WASHINGTON — Today, Homeland Security Secretary Alejandro N. Mayorkas, FEMA Administrator Deanne Criswell and Senior Advisor to the President and White House Infrastructure Coordinator Mitch Landrieu announced the project selections for nearly $3 billion in…
SBA: $8 Million in PRIME Grants Awarded to Help Micro-Entrepreneurs
Grants will help 32 organizations with program development and provide training and technical assistance to improve access to capital for economically disadvantaged microentrepreneurs 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 awardees for the 2023 Program for Investment in…
HUD and FCC Partner to Promote Affordable Internet Access for Low-Income Communities
Goal is to Encourage Participation in the Affordable Connectivity Program Among Families Receiving Federal Housing Assistance The Federal Communications Commission and the U.S. Department of Housing and Urban Development (HUD) formalized a partnership to promote awareness of the Affordable Connectivity Program (ACP) among federal housing assistance recipients. HUD Secretary Marcia L. Fudge announced the partnership…