FHFA: Notice of Proposed Rulemaking on Uniform Mortgage-Backed Security
The Federal Housing Finance Agency (FHFA) is issuing a proposed rule to require Fannie Mae and Freddie Mac (the Enterprises) to align programs, policies, and practices that affect the prepayment rates of “To-Be-Announced” (TBA)-eligible mortgage-backed securities (MBS). The objective of the proposed rule is to enhance the overall liquidity of Enterprise TBA-eligible MBS by supporting…
FEMA: President Trump Approves Major Disaster Declaration for Iowa
The Federal Emergency Management Agency announced today that federal disaster assistance has been made available to the state of Iowa to supplement state and local recovery efforts in the areas affected by severe storms and tornadoes on July 19, 2018. Federal funding is available to state and eligible local governments, and certain private nonprofit organizations…
FEMA: President Trump Signs Emergency Declaration for Hawaii
The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that federal emergency aid has been made available to the state of Hawaii to supplement state and local response efforts due to the emergency conditions in the area affected by Tropical Storm Olivia beginning on September 9, 2018, and continuing. The President’s…
CFPB: New Rule Updates Fair Credit Reporting Act Model Consumer Disclosures
The Bureau of Consumer Financial Protection (Bureau) today issued an interim final rule updating two model disclosures to reflect changes made to the Fair Credit Reporting Act (FCRA) by recent legislation. In May 2018, Congress passed the Economic Growth, Regulatory Relief, and Consumer Protection Act, which requires nationwide consumer reporting agencies to provide “national security…
FEMA: President Trump Signs Emergency Declaration for Virginia
The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that federal emergency aid has been made available to the Commonwealth of Virginia to supplement Commonwealth, tribal, and local response efforts due to the emergency conditions in the area affected by Hurricane Florence beginning on September 8, 2018, and continuing. The President’s…
Interagency Statement: Reaffirming the Role of Bank Supervisory Guidance
Five federal agencies today issued a joint statement explaining the role of supervisory guidance for regulated institutions. The statement from the agencies—the Federal Reserve Board, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency—confirms that supervisory guidance does not…
FEMA: President Trump Signs Emergency Declaration for the Northern Mariana Islands
The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that federal emergency aid has been made available to the Commonwealth of Northern Mariana Islands to supplement Commonwealth and local response efforts due to the emergency conditions in the area affected by Typhoon Mangkhut beginning on September 10, 2018, and continuing. The…
FEMA: President Trump Signs Emergency Declaration for North Carolina
The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that federal emergency aid has been made available to the state of North Carolina to supplement state, tribal, and local response efforts due to the emergency conditions in the area affected by Hurricane Florence beginning on September 7, and continuing. The President’s…
FEMA: President Trump Signs Emergency Declaration for South Carolina
The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that federal emergency aid has been made available to the state of South Carolina to supplement state, tribal, local response efforts due to the emergency conditions in the area affected by Hurricane Florence beginning on September 8, 2018, and continuing. The President’s…