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FDITECH Launches Tech Sprint to Reach More Unbanked People June 16, 2021
June 16, 2021 / Source: FDIC
Press Release FDITECH Launches Tech Sprint to Reach More Unbanked People June 16, 2021 For Release WASHINGTON – The Federal Deposit Insurance Corporation today announced a ‘tech sprint’ designed to explore new technologies and techniques that would help expand the capabilities of banks to meet the needs of unbanked individuals and households. The FDIC‘s tech lab, FDITECH,…
FDIC Board Approves New Policy Statement on Minority Depository Institutions
June 15, 2021 / Source: FDIC
Press Release FDIC Board Approves New Policy Statement on Minority Depository Institutions June 15, 2021 For Release WASHINGTON—The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final Statement of Policy to enhance the agency’s efforts to preserve and promote Minority Depository Institutions (MDIs). The FDIC’s revised policy statement reflects public…
Remarks by the Acting Comptroller of the Currency on Reducing Bias in Real Estate Appraisals
June 15, 2021 / Source: OCC
News Release 2021-66 | June 15, 2021 Remarks by the Acting Comptroller of the Currency on Reducing Bias in Real Estate Appraisals WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today delivered remarks to raise awareness about the need to reduce bias in real estate appraisals, during an event on the subject hosted by the Consumer Financial Protection…
Two Charged as Co-Conspirators for Nearly $1 Million COVID-19 Relief Fraud Scheme and Money Laundering
June 14, 2021 / Source: DOJ
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, June 11, 2021 Two Charged as Co-Conspirators for Nearly $1 Million COVID-19 Relief Fraud Scheme and Money Laundering A New York man and an Oklahoma woman were arrested Wednesday in Buffalo, New York and Altus, Oklahoma, respectively, on a criminal complaint filed in the…
A Brief Note on General Lending Patterns of Small to Medium Size Closed-end HMDA Reporters JUN 14, 2021
June 14, 2021 / Source: CFPB
Data point A Brief Note on General Lending Patterns of Small to Medium Size Closed-end HMDA Reporters JUN 14, 2021 The 2015 HMDA Rule required that financial institutions that originated no fewer than 25 closed-end mortgage loans in each of the two preceding years and meet other reporting criteria such as asset and locational tests…
Statement by the Acting Comptroller of the Currency at the Financial Stability Oversight Council
June 11, 2021 / Source: OCC
News Release 2021-65 | June 11, 2021 Statement by the Acting Comptroller of the Currency at the Financial Stability Oversight Council WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the LIBOR transition: Thank you, Madam Secretary, and thank you for…
Spring 2021 Rulemaking Agenda
June 11, 2021 / Source: CFPB
Spring 2021 Rulemaking Agenda By Susan M. Bernard – JUN 11, 2021 We have published our Spring 2021 Agenda as part of the Spring 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions , which is coordinated by the Office of Management and Budget under Executive Order 12866. The agenda lists the regulatory matters that, to further our consumer protection mission and…
OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29
June 10, 2021 / Source: OCC
News Release 2021-64 | June 10, 2021 OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, June 29, 2021. The virtual meeting is open to the public and will…
Regulatory Relief FIL-40-2021
June 10, 2021 / Source: FDIC
Financial Institution Letter Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Louisiana Affected by Severe Storms, Tornadoes, and Flooding June 10, 2021 | FIL-40-2021 Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Louisiana affected by severe storms,…
Treasury Sanctions Nicaraguan Officials for Supporting Ortega’s Efforts to Undermine Democracy, Human Rights, and the Economy
June 9, 2021 / Source: Treasury
PRESS RELEASES Treasury Sanctions Nicaraguan Officials for Supporting Ortega’s Efforts to Undermine Democracy, Human Rights, and the Economy 55 June 9, 2021 WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals who support the Ortega regime — a regime that has undermined democracy, abused the human…
More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million
June 9, 2021 / Source: Treasury
PRESS RELEASES More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million June 9, 2021 WASHINGTON — The U.S. Department of the Treasury, Internal Revenue Service, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.3 million additional Economic Impact Payments…
SBA Administrator Issues Statement on the Closure of Paycheck Protection Program
June 8, 2021 / Source: SBA
SBA Administrator Issues Statement on the Closure of Paycheck Protection Program PPP has provided nearly $800 billion to small businesses and nonprofits across the nation, fueling the economy by supporting over 8.5 million small businesses and nonprofits June 1, 2021 | Release Number 21-45 Contact U.S. Small Business Administration at [email protected] WASHINGTON – Today, U.S. Small Business Administrator Isabella…
FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021
June 8, 2021 / Source: FHFA
News Release FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021 Multifamily property owners entering into new or modified forbearance plans must offer tenant protections FOR IMMEDIATE RELEASE 6/3/2021 Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying…
Nine Individuals Charged for Roles in Fraud Scam Involving 200 Victims
June 8, 2021 / Source: FDIC OIG
PRESS RELEASE FOR IMMEDIATE RELEASE Tuesday, June 1, 2021 Nine Individuals Charged for Roles in Fraud Scam Involving 200 Victims Victims Defrauded of at Least $2.5 Million CHARLESTON, W.Va. – Three indictments returned by a federal grand jury sitting in Charleston have been unsealed that charge nine men for their involvement in illegal schemes alleged…
Federal Reserve Board announces that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT
June 8, 2021 / Source: FRB
Press Release June 07, 2021 Federal Reserve Board announces that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT The Federal Reserve Board announced on Monday that results from its bank stress tests will be released on Thursday, June 24, at 4:30 p.m. EDT. Stress tests help…
Federal Open Market Committee announces its tentative meeting schedule for 2022
June 4, 2021 / Source: FRB
Press Release June 04, 2021 Federal Open Market Committee announces its tentative meeting schedule for 2022 The Federal Open Market Committee on Friday announced its tentative meeting schedule for 2022: January 25-26 (Tuesday-Wednesday) March 15-16 (Tuesday-Wednesday) May 3-4 (Tuesday-Wednesday) June 14-15 (Tuesday-Wednesday) July 26-27 (Tuesday-Wednesday) September 20-21 (Tuesday-Wednesday) November 1-2 (Tuesday-Wednesday) December 13-14 (Tuesday-Wednesday) January…
OCC Releases CRA Evaluations for 18 National Banks and Federal Savings Associations
June 4, 2021 / Source: OCC
News Release 2021-63 | June 4, 2021 WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 1, 2021 through May 31, 2021. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that…
FDIC Issues List of Banks Examined for CRA Compliance Thursday, June 3, 2021
June 3, 2021 / Source: FDIC
FDIC Issues List of Banks Examined for CRA Compliance Thursday, June 3, 2021 For Release 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 March 2021….
Federal Reserve Board announces plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility
June 3, 2021 / Source: FRB
Press Release June 02, 2021 Federal Reserve Board announces plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility The Federal Reserve Board on Wednesday announced plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility (SMCCF), a temporary emergency lending facility that closed on December…
Federal Reserve Board issues final rule amending Regulation D with regard to interest on reserve balances
June 2, 2021 / Source: FRB
Press Release June 02, 2021 Federal Reserve Board issues final rule amending Regulation D with regard to interest on reserve balances For release at 10:00 a.m. EDT The Federal Reserve Board announced on Tuesday the approval of a final rule amending Regulation D to eliminate references to an interest on required reserves (IORR) rate and…
Summary of Deposits Survey and Filing for June 30, 2021
June 2, 2021 / Source: FDIC
Summary: The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July…
Addressing racial inequities in consumer finance markets
June 2, 2021 / Source: CFPB
Addressing racial inequities in consumer finance markets By Dave Uejio – JUN 02, 2021 Over the last year, our country has faced many significant challenges, including the COVID-19 pandemic, the murder of George Floyd, and other acts of violence and racism. As a result, our nation has started a critical and long overdue conversation around race and equity….
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of West Virginia Affected by Severe Storms
June 1, 2021 / Source: FDIC
Financial Institution Letter Regulatory Relief June 1, 2021 | FIL-38-2021 Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of West Virginia affected by severe storms. A copy of the Guidance can be found on the FDIC’s website. Statement of Applicability: This Financial Institution Letter (FIL)…
Federal Reserve Board invites public comment on proposed rule to govern funds transfers over the Federal Reserve Banks’ FedNow Service
June 1, 2021 / Source: FRB
Press Release June 01, 2021 Federal Reserve Board invites public comment on proposed rule to govern funds transfers over the Federal Reserve Banks' FedNow Service The Federal Reserve Board on Tuesday invited comment on a proposed rule to govern funds transfers over the Federal Reserve Banks' FedNow℠ Service. The FedNow Service is a new 24x7x365…
Federal Reserve Board invites public comment on proposed changes to its Policy on Payment System Risk that governs the provision of intraday credit
May 28, 2021 / Source: FRB
Press Release May 28, 2021 The Federal Reserve Board on Friday requested public comment on proposed changes to its Policy on Payment System Risk (PSR policy) that governs the provision of intraday credit, or daylight overdrafts, to healthy depository institutions with accounts at the Federal Reserve Banks. The PSR policy establishes limits on the value…