FDIC: Sunwest Bank Assumes All Deposits and Certain Assets of Nano Banc, Irvine, California
Nano Banc of Irvine, California was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Sunwest Bank of Sandy, Utah to assume substantially all deposits and acquire certain assets of Nano Banc. Nano…
SBA: $18 Million in Awards Announced to Small Businesses in Critical Suppliers Competition
Awards to accelerate seven innovators strengthening U.S. supply chains Today, the U.S. Small Business Administration (SBA) announced the winners of its first-ever Critical Suppliers Prize Competition, awarding more than $18 million in non-dilutive prize funding to seven small businesses. The awards will enable the companies to modernize equipment, expand production capacity, and scale U.S.-based manufacturing of critical defense, aerospace,…
HUD: Multiple Fair Housing Act Charges Announced
Cuts Biden Backlog by 46%, Violations including Disability, Sexual Harassment, and Familial Status Discrimination HUD today announced nine recent charges of discrimination under the Fair Housing Act, reflecting ongoing enforcement of federal fair housing protections by HUD’s Office of Fair Housing and Equal Opportunity (FHEO). While vigorously investigating and prosecuting cases of actual unlawful discrimination,…
ABA: Bank Economists Expect Softer Credit Conditions Expected Over Next Six Months
About the Credit Conditions IndexThe ABA Credit Conditions Index is a suite of proprietary diffusion indices derived by the American Bankers Association from surveys of bank chief economists from major North American banking institutions. Since 2002, the bank economists have forecasted credit quality and availability for both businesses and consumers, indicating whether they expect conditions…
FEMA: More Than $1.6 Billion Delivered to Strengthen Preparedness and Resilience Across America
Investment Will Strengthen National Security, Empower Community Leaders and Save Lives Today, the Federal Emergency Management Agency (FEMA) announced more than $1.6 billion in federal funding to states, tribal nations, territories, local jurisdictions and operational partners across the country. FEMA will award this money through its preparedness grant programs. Through these programs, FEMA enables communities…
OCC: Mortgage Performance Report for Second Quarter of 2026 Released
The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2026. The OCC Mortgage Metrics Report, Second Quarter 2026 showed that 97.7 percent of mortgages included in the report were current and performing at the end of the quarter, an increase…
ABA: Bank Economists Expect Business Spending Will Drive Resilient Growth in the Face of Elevated Inflation
The American Bankers Association’s Economic Advisory Committee expects the U.S. economy to continue expanding at a solid pace through the remainder of 2026 and into 2027. This growth will come even as the group projects inflation will remain above the Federal Reserve’s 2% target, driven by higher oil prices and services inflation. The committee, which…
SBA: More than $8 Million in FAST Grants Awarded to Fuel Next Generation of Breakthrough Innovators
FAST Awards Will Expand Access to America’s Seed Fund and Help Small Businesses Turn Ideas into Commercial Capability Today, the U.S. Small Business Administration (SBA) announced that it awarded more than $8 million in grants to 50 organizations through the Federal and State Technology (FAST) Partnership Program. The FAST Program provides small businesses and startups with specialized…
SBA: $8.9 Million in SCALE Funding Awarded to 18 Organizations to Strengthen Domestic Supply Chains
Funding will help small manufacturers scale production and support strategic priorities Today, the U.S. Small Business Administration (SBA) announced it awarded $8.9 million in grants across 18 organizations through its Supply Chain Acceleration and Logistics Enablement (SCALE) Program. Grantees will receive up to $500,000 each during a two-year period beginning September 30 to counsel small manufacturers on solving for…
HUD: Agency Kicks Off Innovative Housing Showcase with Trades Day
Students Get Hands-On Look at Skilled Trades Building the Future of American Housing HUD today kicked off its sixth Innovative Housing Showcase with Trades Day, connecting students and young adults with skilled trades professionals and hands-on opportunities in the housing and construction industries. “America cannot build more homes without the skilled men and women…