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Looking Back on 2020
March 3, 2021 / Source: FDIC
2020 was a year most of us would gladly forget. The global pandemic turned our personal and economic lives upside down —but how did our banks fare and how did our banking system hold up? Pat Mitchell and Meg Hanrahan, two senior FDIC financial analysts, look back on 2020 and how our nation’s banks navigated…
Acting Comptroller Marks Anniversary of Freedman’s Bank and the National Currency Act
March 3, 2021 / Source: OCC
News Release 2021-28 WASHINGTON—Today, Acting Comptroller of the Currency Blake Paulson issued the following statement to staff to recognize the 158th anniversary of the National Currency Act, which created the Office of the Comptroller of the Currency, and the 156th anniversary of the Freedman’s Savings and Trust Company. Over the last week we’ve seen two important…
Federal Reserve Board issues enforcement actions with former employee of Gateway Bank and former employee of SunTrust Bank
March 2, 2021 / Source: FRB
Press Release March 02, 2021 For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below: Consent Prohibition against Jessica Shirey Former employee of Gateway Bank, Rison, Arkansas Misappropriation of customer funds Consent Prohibition against Jeremy Boles Former employee of SunTrust Bank, Atlanta,…
OCC Releases CRA Evaluations for 13 National Banks and Federal Savings Associations
March 2, 2021 / Source: OCC
News Release 2021-27 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 February 1, 2021 through February 28, 2021. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that…
FHFA Authorizes More than $1 Billion for Affordable Housing Funds
March 1, 2021 / Source: FHFA
News Release Largest amount ever disbursed to Housing Trust Fund and Capital Magnet Fund, more than double 2019 amounts Washington, D.C. – FHFA Director Mark Calabria announced today that he has authorized the disbursement of $1.09 billion for Fannie Mae and Freddie Mac's (the Enterprises) affordable housing allocations for 2020. This is the largest amount ever…
New Report From Consumer Financial Protection Bureau Finds Over 11 Million Families At Risk Of Losing Housing
March 1, 2021 / Source: CFPB
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least…