OCC: Statement on the President’s Intent to Nominate Brian P. Brooks to Serve as Comptroller of the Currency
Acting Comptroller of the Currency Brian P. Brooks released the following statement upon the announcement that President Donald J. Trump intends to nominate him to serve as the 32nd Comptroller of the Currency. It is a great honor to have President Donald J. Trump announce his intent to nominate me to serve our nation as the…
ABA: Farmer Mac and ABA Joint Ag Lender Survey Reveals Top Concerns in an Uncertain Year
As the farm economy continues to work through a prolonged downturn in the midst of an unparalleled, global economic dislocation, ag lenders remain focused on credit quality, according to the Fall 2020 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, more commonly known as Farmer Mac. When it…
SBA: Election of New Chair and Vice-Chair on the Small Business Development Center Advisory Board Announced
SBA welcomes Bertica Cabrera Morris as Board Chair and Lea Marquez Peterson as Vice-Chair on the SBDC Advisory Board. The U.S. Small Business Administration is pleased to welcome the new Chair and Vice-Chair to the National Small Business Development Center (SBDC) Advisory Board. Bertica Cabrera Morris will serve as Board Chair, and Lea Marquez Peterson will serve…
SBA: Small Business Size Standard Revisions Proposed in Three Industrial Sectors
Public Comments Due January 12; Change Targeted at Increasing Eligiblity for Contracting and Loan Programs The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in three North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting…
FHFA: FY 2020 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2020. For the twelfth consecutive year, FHFA received an unmodified audit opinion on its…
CDFI Fund: Upcoming Webinar Scheduled on Preparing for the FY 2021 CDFI and NACA Program Application Round
It’s never too early to start getting ready for the next application round! The Community Development Financial Institutions Fund (CDFI Fund) is tentatively planning to open the fiscal year (FY) 2021 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) application round in early 2021. To help your organization…
ABA: Foundation Seeking Banks to Host 11th Annual “Lights, Camera, Save!” Teen Video Contest
The American Bankers Association Foundation is urging banks across the country to participate in its upcoming Lights, Camera, Save! video competition that runs from February 1, 2021 to March 1, 2021. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management. The competition is one of…
HUD: FHA Publishes Annual Report to Congress on the Single Family Mutual Mortgage Insurance Fund
Report shows a moderate gain in the MMI Fund’s capital ratio and successful continuation of FHA’s core mission focus in fiscal year 2020 The Federal Housing Administration (FHA) today released its fiscal year (FY) 2020 annual report covering the financial status of the Mutual Mortgage Insurance (MMI) Fund and its Single Family insurance programs. In addition to…
FHFA: COVID-Related Loan Flexibilities Further Extended
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until December 31, 2020. The changes are to ensure continued support for bor rowers during the COVID-19 national emergency. The flexibilities were set to expire on November 30, 2020. Extended flexibilities include: Alternative appraisals…
FEMA: Medocino and Stanislaus Counties in California Added to August Wildfire Disaster Declaration
Mendocino and Stanislaus counties have been approved for federal assistance to individuals and households, as well as for repairs or rebuilding of community infrastructure, as part of the major wildfire disaster declaration approved Aug. 22. The deadline to register for assistance with FEMA under Disaster 4558 is Nov. 21. FEMA’s individual assistance program provides grants…