FEMA: President Trump Approves Major Disaster Declaration for Tennessee
FEMA announced that federal disaster assistance is available to the state of Tennessee to supplement recovery efforts in the areas affected by the severe winter storm from Jan. 22-27, 2026. Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair…
ABA: Foundation Releases New Ideas to Impact Report Showcasing Innovative Strategies to Strengthen Communities Nationwide
The ABA Foundation today unveiled Ideas to Impact: A Framework for Influencing Banking’s Next Century, a first-of-its-kind report capturing forward-looking ideas from bankers, community leaders and nonprofit partners on how financial institutions can drive meaningful economic and community impact in the decades ahead. Developed as part of the Foundation’s 100th anniversary celebration in 2025, the report…
CDFI Fund: 2026 Transactional Level Report (TRL) Webinar Schedule Announced
The Community Development Financial Institutions Fund (CDFI Fund) will host a monthly Transaction Level Report (TLR) webinar. The TLR webinars are intended to serve as a forum for Certified and non-Certified Community Development Financial Institutions (CDFIs) to ask questions and discuss the TLR and its submission process. The sessions will cover the purpose of the…
ABA: ABA Applauds the Introduction of the SCAM Act
“ABA applauds Sens. Gallego and Moreno for their leadership in introducing the Safeguarding Consumers from Advertising Misconduct (SCAM) Act, a critical step forward in the nation’s fight against fraud. Millions of Americans lose billions of dollars a year to scams that start on social media platforms. Banks of all sizes invest significant resources to detect…
SBA: Working Capital Pilot Program Delivers $150 Million to Support U.S. Manufacturing
Flexible Credit Line Supports Expansion and Job Creation Today, the U.S. Small Business Administration (SBA) announced a major milestone for its 7(a) Working Capital Pilot (WCP) Program, which has delivered more than $150 million in new lending since its inception – of which more than $125 million was approved since President Trump took office last January. The success of the…
ABA: Banking Trades Issue Statement on White House Crypto Market Structure Meeting
Following today’s meeting at the White House on crypto market structure legislation, the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum and Independent Community Bankers of America issued the following joint statement: “We want to thank the administration for hosting today’s constructive conversation and for recognizing the importance of the banking…
FDIC: First Independence Bank, Detroit, MI, Assumes All Deposits of Metropolitan Capital Bank & Trust, Chicago, IL
Metropolitan Capital Bank & Trust was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with First Independence Bank to assume substantially all deposits of Metropolitan Capital Bank & Trust. Metropolitan Capital Bank &…
ICBA: ICBA Strongly Supports Senate Bill to Close Industrial Loan Company Loophole
The Independent Community Bankers of America (ICBA) today expressed its strong support for bipartisan legislation to close the industrial loan company (ILC) loophole, which allows commercial companies to own full-service banks without full regulatory oversight. A loophole in the Bank Holding Company Act allows commercial and fintech companies to own or acquire ILCs chartered in…