FDIC: Dream First Bank, N.A. of Syracuse, KS Assumes All Deposits of Heartland Tri-State Bank of Elkhart, KS
Heartland Tri-State Bank of Elkhart, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Dream First Bank, National Association, of Syracuse, Kansas, to assume all of the deposits…
HUD: $85 Million Funding Opportunity Released to Remove Barriers to Building Housing and New Tools Announced to Build & Repair Affordable Housing
Increasing the supply of affordable housing is one way Bidenomics lowers housing costs from the bottom up and the middle out. Today, the U.S Department of Housing and Urban Development (HUD) is taking two actions to lower housing costs for Americans by increasing the supply of affordable housing. HUD’s actions today will make it easier…
HUD: $10 Million Funding Opportunity Announced for Tenant Education and Outreach
Protections and funding build on commitments made by the Biden-Harris Administration’s Blueprint for a Renters Bill of Rights Announcement made at HUD’s “National Conversation at the Community Table” with tenants and renters from across the United States Today, the U.S. Department of Housing and Urban Development (HUD) is announcing three new actions to increase fairness…
Agencies Request Comment on Proposed Rules to Strengthen Capital Requirements for Large Banks
Bank regulatory agencies today requested comment on a proposal to increase the strength and resilience of the banking system. The proposal would modify large bank capital requirements to better reflect underlying risks and increase the consistency of how banks measure their risks. The changes would implement the final components of the Basel III agreement, also…
ABA Joins Project Fintech Accelerator as a Founding Partner
The American Bankers Association today announced it has joined the 2023 Project Fintech accelerator as a founding partner. Through this partnership, ABA will work closely with the Project Fintech team over the next nine months to engage with nine startups developing innovative banking technology products and services. “Innovation is at the core of today’s banking industry, and…
HUD and Census Bureau: New Residential Sales Report for June 2023
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 June 2023: New Home Sales Sales of new single‐family houses in June 2023 were at a seasonally adjusted annual rate of 697,000, according to estimates released jointly today by the U.S. Census…
HUD: $370 Million in Choice Neighborhoods Implementation Grants Awarded
Awardees will redevelop their public and/or HUD-assisted housing, surrounding neighborhoods U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced today the awarding of Choice Neighborhoods Implementation (CNI) Grants totaling $370 million to eight communities throughout the country. These awards support communities that have undergone a comprehensive local planning process and are…
CFPB: Exams Find Unfair, Deceptive and Abusive Practices Across a Wide Array of Consumer Financial Product Lines at Nonbanks
Supervisory Highlights report also details new examinations on nonbanks Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report which found unfair, deceptive, and abusive acts or practices across many consumer financial products. For example, auto lenders have originated loan balances above the real value of the car being purchased and engaged in…
HUD: Research Grant Opportunity and Event Announced Focused on Office-to-Residential Conversions Announced
The U.S. Department of Housing and Urban Development (HUD) released a notice of funding opportunity (NOFO) to study office-to-residential conversions. Later today, HUD’s Office of Policy Development and Research (PD&R) will host a virtual event featuring developers, researchers, and local officials to discuss the challenges of executing these conversions and how policies can help overcome those challenges. The NOFO…
FHFA: House Price Index Up 0.7 Percent in May 2023; Up 2.8 Percent from Last Year
U.S. house prices rose in May, up 0.7 percent from April, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 2.8 percent from May 2022 to May 2023. The previously reported 0.7 percent increase in April remained unchanged. For the nine census divisions, seasonally adjusted monthly price changes from April…