CFPB: Tool Enhanced to Promote Competition and Comparison Shopping in Credit Card Market
Price transparency will help families find better credit card deals in a time of rising interest rates Today, the Consumer Financial Protection Bureau (CFPB) launched an improved survey of credit card issuers that can help consumers and families compare interest rates and other features when shopping for a new credit card. Americans pay $120 billion…
FDIC: Bid Window Extended for Silicon Valley Bridge Bank, N.A.
Agency Will Continue to Operate the Bridge Bank while Exploring Strategic Options The Federal Deposit Insurance Corporation (FDIC) has extended the bidding process for Silicon Valley Bridge Bank, National Association, Santa Clara, California. There has been substantial interest from multiple parties, and the FDIC and the bidders need more time to explore all options in…
HUD: New High-Speed Internet Guide Highlights Unprecedented Funding to Support Underserved Communities
Today, the U.S. Department of Housing and Urban Development announced a new guidebook for states and organizations to consider when deploying high-speed Internet service projects. The guide will help Public Housing Authorities, Multifamily Owners and Operators, and Tribes understand the mechanics of these two programs and the role they can play in ensuring that funds come to…
SBA: Registration Opens for National Small Business Week Virtual Summit Taking Place in May 2023
Today, the U.S. Small Business Administration (SBA) and SCORE, mentors to America’s small businesses and a resource partner of the SBA, announced that registration for the 2023 National Small Business Week Virtual Summit is now open. The two-day online event will take place from May 2-3, 2023. Attendance is free of charge, but registration is required. To register, visit National…
OCC: Flagstar Bank, N.A. Receives Conditional Approval to Purchase and Assume Deposits of Signature Bridge Bank, N.A.
The Office of the Comptroller of the Currency (OCC) announced today that it has conditionally approved Flagstar Bank, N.A., Hicksville, New York, to purchase assets and assume certain liabilities of Signature Bridge Bank, N.A., New York, New York. The transaction includes the purchase by Flagstar Bank of certain loan portfolios from Signature Bridge Bank, N.A.,…
CFPB: 2022 HMDA Data on Mortgage Lending Released for HMDA Filers
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2022 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 4,394 HMDA filers. The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. To increase public accessibility, the annual loan-level…
FDIC: Flagstar Bank, N.A., a Subsidiary of New York Community Bancorp, Inc., to Assume Deposits of Signature Bridge Bank, N.A., from the FDIC
The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for substantially all deposits and certain loan portfolios of Signature Bridge Bank, National Association, by Flagstar Bank, National Association, Hicksville, New York, a wholly owned subsidiary of New York Community Bancorp, Inc., Westbury, New York. The 40 former branches of Signature Bank…
HUD: “Discriminatory Effects” Rule Restored
Department to rescind 2020 Fair Housing Act rule and restore 2013 policy to eradicate discriminatory practices from housing market Today, the U.S. Department of Housing and Urban Development (HUD) announced that it has submitted to the Federal Register for publication a Final Rule entitled Restoring HUD’s Discriminatory Effects Standard. The Final Rule rescinds the Department’s 2020…
FEMA: President Biden Approves Major Disaster Declaration for New York
FEMA announced that federal disaster assistance has been made available to the state of New York to supplement state and local recovery efforts in the areas affected by a severe winter storm and snowstorm Dec. 23-28, 2022. The President’s action makes federal funding in the form of funeral assistance available to affected individuals in Erie and Niagara counties. Local…
HUD: $6 Million Awarded to Improve the Safety and Health of Homes of Low-Income Families
Funds will reduce risks from radon and other hazards in homes The U.S. Department of Housing and Urban Development (HUD) today awarded nearly $6 million to public housing agencies and a state housing authority to protect children and families from housing-related hazards, including radon exposure. HUD is awarding 10 grants to public housing agencies under…