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Commercial Lending:Â Refinance Risk
October 3, 2024 / Source: OCC
Summary The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to provide banks1 with guidance for managing credit risk associated with refinance risk. This bulletin does not address other risks, such as interest rate risk.2 Recission This bulletin rescinds Banking Bulletin 1993-50, âLoan Refinancing.â Note for Community Banks This bulletin applies to…
FDIC Issues List of Banks Examined for CRA Compliance
October 3, 2024 / Source: FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in July 2024. The CRA is a 1977 law that requires the FDIC to assess a bankâs record…
HUD Awards $5 Million to HBCUs to Conduct Housing and Community Development Research
October 3, 2024 / Source: HUD
WASHINGTON – Today, the U.S. Department of Housing and Urban Development (HUD) awarded $5 million to Winston-Salem State University and Tennessee State University to establish Research Centers of Excellence. HUDâs Research Centers of Excellence (COEs) conduct research projects on topics of strategic interest to HUD and produce research that provides evidence-based solutions to housing, community development,…
FDIC Issues 2024 Small Business Lending Survey Report
October 2, 2024 / Source: FDIC
WASHINGTON â The Federal Deposit Insurance Corporation (FDIC) today released the 2024 Small Business Lending Survey Report (SBLS). Conducted in 2022, the SBLS is a nationally representative sample of U.S. banks that offers important insights into their small business lending practices and how banks meet the credit needs of the nationâs small businesses. The SBLS gathered…
Biden-Harris Administration Announces More Than $279 Million in New Housing Investments
October 2, 2024 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced nearly $279 million in awards to properties across 23 states and territories under its Green and Resilient Retrofit Program (GRRP) to support significant energy efficiency and climate resilience renovations of more than 3,500 homes. These Comprehensive grants and loans will increase energy and water efficiency, reduce climate…
Federal and state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions affected by Hurricane Helene
October 2, 2024 / Source: FRB
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricane Helene on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject…
HUD Announces More Than $22 Million to Combat Housing Discrimination in America
October 1, 2024 / Source: HUD
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced the availability of $22,241,793 to fair housing organizations across the nation to bolster ongoing efforts to address housing discrimination. Funds announced today through HUDâs Fair Housing Initiatives Program (FHIP) will support a variety of activities, including fair housing education and outreach, testing and…
CFPB Takes Aim at Double Billing and Inflated Charges in Medical Debt Collection
October 1, 2024 / Source: CFPB
WASHINGTON, D.C. â Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to prevent families from being targeted by illegal medical debt collection tactics. The advisory opinion clarifies that debt collectors, which may include third-party ârevenue cycle managementâ companies, are violating federal law when they collect on inaccurate or legally invalid medical debts. These illegal practices include double-dipping…
OCC Releases Bank Supervision Operating Plan for Fiscal Year 2025
October 1, 2024 / Source: OCC
WASHINGTONâThe Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2025. The plan outlines the OCCâs supervision priorities and objectives for the year. It also facilitates the implementation of supervisory strategies for individual national banks, federal savings associations, federal branches and agencies of foreign banking…
Statement of Director Sandra L. Thompson on the Advisory Bulletin to the Federal Home Loan Bank System on Climate Risk
October 1, 2024 / Source: FHFA
The Federal Housing Finance Agency (FHFA) issued today an Advisory Bulletin to the Federal Home Loan Bank (FHLBank) System, AB 2024-04: FHLBank System Climate-Related Risk Management, following extensive outreach to the Systemâs members and other relevant stakeholders through the FHLBank System at 100: Focusing on the Future initiative. In recognition of the serious threat that climate risk and…