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….
FEMA: San Jacinto County, TX Added to Disaster Declaration for Tropical Storm Imelda
San Jacinto County has been designated for disaster assistance as part of Texas’s federal disaster declaration for severe storms and flooding that occurred Sept. 17-23. Survivors of Tropical Storm Imelda may now register for assistance with the Federal Emergency Management Agency (FEMA), and the U.S. Small Business Administration (SBA). This announcement brings the total number…
FDIC: Kentucky Farmers Bank Corporation Assumes All of the Deposits of Louisa Community Bank
Louisa Community Bank in Louisa, Ky., was closed today by the Kentucky Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Kentucky Farmers Bank Corporation in Catlettsburg, Ky., to assume all of the deposits of Louisa Community…
HUD and Census Bureau: New Residential Sales Report for September 2019
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for September 2019: New Home Sales Sales of new single-family houses in September 2019 were at a seasonally adjusted annual rate of 701,000. This is 0.7 percent (±16.1 percent)* below the revised August…
EDA: $4.7 Million Invested to Improve Deer Park Business and Industrial Park in Spokane County, WA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.7 million grant to the city of Deer Park, Washington, to help improve the Deer Park Business and Industrial Park. The grant, to be matched with more than $1.2 million in local investment, is expected to help…
EDA: NIST, EDA and the FirstNet Authority Announce $1 Million Interagency Disaster Challenge
The Accelerate R2 Network will Connect Response and Resiliency Innovation Efforts Three U.S. Department of Commerce agencies have launched a first-of-its-kind interagency challenge focused on accelerating innovations for disaster response and resilience technology. The Economic Development Administration (EDA), in collaboration with the National Institute of Standards and Technology (NIST) and the First Responder Network Authority (FirstNet Authority), today announced the Accelerate R2…
CFPB: Symposium Announced for Dodd-Frank and Equal Credit Opportunity Acts on November 6th
The Consumer Financial Protection Bureau (Bureau) announced today that it will hold a symposium on Section 1071 of the Dodd-Frank Act on November 6, 2019 at 9:30 a.m. The event will be webcast on the Bureau’s website. Section 1071 amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to collect, report, and make…