Census Bureau: Household Pulse Survey Weekly Data Released
The Census Bureau today released new data from the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the availability of consumer goods…
FHFA: House Price Index Down 0.3 in May; Up 4.9 Percent from Last Year
U.S. house prices fell in May, down 0.3 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 4.9 percent from May 2019 to May 2020. The previously reported 0.2 percentincrease for April 2020 was revised downward to 0.1 percent. For the nine census divisions, seasonally adjusted monthly house…
FDI: New Members to Advisory Committee on Community Banking Named
The Federal Deposit Insurance Corporation (FDIC) today announced three new members to its Advisory Committee on Community Banking, which has been sharing input with the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around…
ABA: Officers Nominated for 2020-2021
The American Bankers Association’s Nominating Committee has selected the official slate of candidates for ABA officers for election at the association’s virtual annual meeting to be held October 20. The Committee, chaired by Jeffrey M. Szyperski, chair, president and CEO, Chesapeake Bank, Kilmarnock, Va., nominated these candidates for ABA officer positions: CHAIRMAN: James J. Edwards,…
CDFI Fund: Public Comment Period Extended for CDFI Certification Application, ACR and CTLR
Deadline to Submit Responses to CDFI Fund Now November 5, 2020 The Community Development Financial Institutions Fund (CDFI Fund) will extend the deadline to submit comments in response to its solicitation for public feedback on a revised Community Development Financial Institution (CDFI) Certification Application, Annual Certification and Data Collection Report (ACR), and new Certification Transaction Level Report (CTLR). The…
EDA: $1.5 Million Invested to Modernize Shipyard Service Facility in American Samoa Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the American Samoa Shipyard Services Authority, Pago Pago, American Samoa, to support the acquisition of equipment, machinery, and tools needed to modernize the Shipyard Service Facility located in a Tax Cuts and Jobs Act Opportunity…
FHFA: 2021 Housing Goals for Fannie Mae and Freddie Mac Proposed
Today, the Federal Housing Finance Agency (FHFA) proposed its 2021 housing goals for Fannie Mae and Freddie Mac (the Enterprises). Due to the economic uncertainty related to the COVID-19 national pandemic, FHFA is proposing benchmarks for calendar year 2021 only, and those levels will remain the same as they were for 2018-2020. Once finalized, the…
FDIC: Input Sought on Voluntary Certification Program to Promote New Technologies
Public/Private standard-setting partnership could foster innovation and cut costs The Federal Deposit Insurance Corporation (FDIC) today announced that it is seeking the public’s input on the potential for a public/private standard-setting partnership and voluntary certification program to promote the efficient and effective adoption of innovative technologies at FDIC-supervised financial institutions. Given rapid technological developments and…
OCC: Proposed True Lender Rule Issued
The Office of the Comptroller of the Currency (OCC) today proposed a rule that would determine when a national bank or federal savings association (bank) makes a loan and is the “true lender” in the context of a partnership between a bank and a third party. Banks’ lending relationships with third parties can facilitate access…
ABA: America’s Banks Urged to Adopt Mask Policy
In light of the continuing health threat posed by the COVID-19 pandemic, the American Bankers Association is urging banks across the nation to adopt a policy requiring anyone who enters a branch to wear a mask or face covering to protect the health of bank employees and customers. Requiring the use of masks and face…