FDIC: Board Approves Proposed Rule to Amend Change in Bank Control Act Regulations
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a Notice of Proposed Rulemaking to amend the agency’s regulations under the Change in Bank Control Act. The proposed rule would require the provision of advance notice to the FDIC for certain acquisitions of voting securities of FDIC-supervised institutions, at a level sufficient to trigger…
FDIC: Board Approves Request for Information on Deposits Data Not Currently Reported on the Call Report or Other Regulatory Reports
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a request for information (RFI) soliciting the public’s comments on deposit data that is not currently reported in the Call Report or other regulatory reports, including for uninsured deposits. “The request for information seeks more granular information on the composition and characteristics of uninsured…
FDIC: Board Approves Proposed Rule to Revise Brokered Deposit Regulations
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking to strengthen the important prudential protections of the agency’s safety and soundness rule on brokered deposits (12 CFR 337.6) that implements section 29 of the Federal Deposit Insurance Act. Based on the FDIC’s experience since the adoption of the 2020…
FHFA: House Price Index Unchanged in May 2024; Up 5.7 Percent from Last Year
U.S. house prices were unchanged in May, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 5.7 percent from May 2023 to May 2024. The previously reported 0.2 percent price increase in April was revised upward to 0.3 percent. For the nine census divisions, seasonally adjusted monthly price changes from…
HUD: Over $150 Million Announced for Tribal Communities for Construction of Innovative, Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) today announced awards totaling $150.9 million for new affordable and innovative housing investments in Tribal communities. Principal Deputy Assistant Secretary Richard Monocchio made the announcement today in Anchorage, Alaska, where he presented $6 million to the Cook Inlet Housing Authority to build 51 new housing units…
EDA: New $25 Million Good Jobs Challenge Notice of Funding Opportunity Announced
New funding builds on historic investment from Biden-Harris Administration’s American Rescue Plan that has placed thousands of Americans into good-paying jobs The Biden-Harris Administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today launches a new phase of funding for the Good Jobs Challenge. This funding opportunity builds on the success of the…
HUD: $3.4 Million Awarded to Public Housing Authorities to Prevent Homelessness Among Vulnerable Youth Exiting Foster Care
38 Public Housing Agencies in 19 states will use funding to keep foster youth housed. Today, the U.S. Department of Housing and Urban Development (HUD) awarded $3.4 million to 38 Public Housing Agencies (PHAs) for 257 vouchers and administrative fees to provide housing assistance to young adults who left foster care or are transitioning out of…
CDFI Fund: Application Demand for Fiscal Year 2024 Round of BEA Program Released
Over $390 million in Increased Investments, Lending and Services in Highly Distressed Communities and to CDFIs The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2024 round of its Bank Enterprise Award Program (BEA Program). A total of 176 applications were…
Agencies Remind Banks of Potential Risks Associated with Third-Party Deposit Arrangements and Request Additional Information on Bank-Fintech Arrangements
The federal bank regulatory agencies today issued a statement reminding banks of potential risks associated with third-party arrangements to deliver bank deposit products and services. The agencies support responsible innovation and banks engaging in these arrangements in a safe and sound manner and in compliance with applicable law. While these arrangements can provide benefits, supervisory…
Agencies Announce Public Outreach Meeting on September 25th as Part of Review of Regulations
Federal bank regulatory agencies will hold a virtual public outreach meeting on September 25, 2024, as part of their review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). EGRPRA requires the agencies, with input from the public, to review their regulations at least once every 10 years to identify…