HUD: $1.5 Million Awarded to Public Housing Authorities to Assist Young People Aging Out of Foster Care
U.S. Housing and Urban Development (HUD) Secretary Ben Carson today awarded $1.5 million to nearly a dozen housing authorities to assist young people aging out of foster care and who are at risk of experiencing homelessness. See chart here. Funded through HUD’s new Foster Youth to Independence (FYI) Initiative, this funding will offer housing vouchers to…
SBA: Public Input Sought on Potential Changes to SBA’s Export Loan Program
The U.S. Small Business Administration published an Advanced Notice of Proposed Rulemaking that seeks comments on potential changes to the regulations governing its Export Loan Programs. SBA’s Export Loan Programs provide access to capital for U.S. small business concerns to support expansion into international markets and the growth of U.S. small business exports. SBA is soliciting comments on…
ABA: US Chamber Foundation and ABA Partner to Expand Bank Hiring Opportunities for Veterans
Community Banks Encouraged to Participate in Hiring Our Heroes Program A new partnership between the American Bankers Association and the US Chamber of Commerce Foundation will expand veteran hiring opportunities at banks across the nation. The partnership, announced at the ABA’s annual convention in Seattle, will enable more community banks to participate in the Foundation’s…
ABA: Seattle Banker Elected as New ABA Chair
Today the American Bankers Association elected Laura Lee “Laurie” Stewart as its chair for the 2019-2020 association year. The election took place during ABA’s annual convention in Seattle. Stewart is also president and CEO of Sound Financial Bancorp, Inc., and Sound Community Bank, a $717 million institution based in Seattle. Sound Community Bank is recognized…
ABA: 2019-2020 Officers Board Elected
Members attending the American Bankers Association’s annual convention in Seattle have elected new ABA officers and directors to serve on ABA’s board for the 2019–2020 association year. The new officers are: CHAIR: Laura Lee (Laurie) Stewart, president and CEO, Sound Community Bank, Seattle; CHAIRMAN-ELECT: James J. Edwards, Jr., CEO, United Bank, Griffin, Ga.; VICE CHAIRMAN:…
HUD: Justice Department and HUD Sign Interagency Memorandum on the Application of the False Claims Act
Agreement Fulfills Key component of HUD Housing Finance Reform Plan U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr today issued a Memorandum of Understanding (MOU) between the two agencies that sets prudential guidance on the appropriate use of the False Claims Act (FCA) for violations by Federal Housing Administration…
FHFA: New Strategic Plan and Scorecard Released for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) today released a new Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac and a new 2020 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions. The Strategic Plan provides a framework for how FHFA will guide Fannie Mae and Freddie Mac (the Enterprises) to fulfill…
ABA: New Survey Shows Americans Remain Highly Satisfied with Their Bank
Nearly 9 in 10 Americans with a bank account (88 percent) say they are “very satisfied” or “satisfied” with their primary bank, and 96 percent rate their bank’s customer service as “excellent,” “very good” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey, unveiled…
FDIC: Buckeye State Bank Assumes All of the Deposits of Resolute Bank
Resolute Bank in Maumee, Ohio, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Buckeye State Bank in Powell, Ohio, to assume all of the deposits of Resolute Bank….