OCC: Fintech Business Model for a National Bank Conditionally Approved
The Office of the Comptroller of the Currency (OCC) today announced conditional approval of the application for financial technology (fintech) company SmartBiz Loans to change the business model of CenTrust Bank, N.A., Northbrook, Illinois, upon its acquisition of CenTrust Bank, N.A. Upon acquisition, CenTrust Bank, N.A. was renamed SmartBiz Bank, N.A. CenTrust further applied to…
HUD: Secretary Turner and DOI Secretary Burgum Announce Joint Task Force to Use Federal Lands for Affordable Housing
U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner and U.S. Department of the Interior (DOI) Secretary Doug Burgum announced a Joint Task Force on Federal Land for Housing to identify underutilized federal lands suitable for residential development, streamline land transfer processes and promote policies that increase the availability of affordable housing. Read more in the…
SBA: 2025 National Small Business Week Will Take Place May 4-10
State and territory Small Business Persons of the Year will compete for national award to be presented in Washington, D.C. Today, the U.S. Small Business Administration announced its list of state and territory Small Business Persons of the Year ahead of this year’s National Small Business Week, which will take place May 4-10, 2025. SBA Administrator Kelly Loeffler will kick…
FHFA: William J. Pulte Sworn In as 5th Director of U.S. Federal Housing Finance Agency
In an Agency ceremony, William J. Pulte was sworn in today to a five-year term as Director of the United States Federal Housing Finance Agency (U.S. Federal Housing). Mr. Pulte was appointed to head the Agency by President Donald J. Trump. “I am honored by President Trump’s trust as we usher in a Golden Age…
ICBA: In New Policy Resolution, ICBA Urges Congress to End Tax Subsidies for Credit Unions Over $1 Billion in Assets
With Congress considering legislation to reform the nation’s tax policy, the Independent Community Bankers of America (ICBA) today called on policymakers to end unwarranted federal tax subsidies for the nation’s largest credit unions. A new policy resolution that ICBA introduced at this week’s ICBA LIVE 2025 national convention in Nashville, Tenn., calls on lawmakers to…
OCC: Agency to Host Virtual Innovation Office Hours in May
The Office of the Comptroller of the Currency (OCC) today announced virtual Office Hours with its Office of Financial Technology on May 6-8, 2025, to promote responsible innovation in the federal banking system. Office Hours are an opportunity for banks and financial technology (fintech) companies to engage with OCC staff on matters related to bank-fintech…
ABA: ABA Testifies Before Senate Ag Committee on Risk Management, Credit and the Agricultural Economy
The American Bankers Association offered the banking industry’s views on risk management, credit and the agricultural economy in testimony before the Senate Committee on Agriculture today. Caleb Hopkins, current chair of ABA’s Agricultural and Rural Bankers Committee, testified on behalf of ABA. Hopkins, based in Halbur, Iowa, has worked in agricultural banking for 13 years, including the…
SBA: Made in America Manufacturing Initiative Announced
Effort will cut $100B in regulation, expand access to capital and create dedicated infrastructure to support blue-collar boom Today, U.S. Small Business Administration Administrator Kelly Loeffler announced the agency’s new Made in America Manufacturing Initiative to restore American economic dominance and national security by empowering small manufacturers. The agency’s effort will support President Trump’s agenda to create good-paying jobs,…
HUD: Innovative Housing Showcase “The American Home is the American Dream” Returns to the National Mall
Showcase to run May 30 – June 1 and celebrate 250th Anniversary of American Independence Secretary Scott Turner today announced the return of the U.S. Department of Housing and Urban Development (HUD)’s Innovative Housing Showcase from May 30 – June 1 to the National Mall in Washington, D.C. This year’s showcase will highlight history-defining events in…
Agencies Issue 2024 Shared National Credit Program
Federal bank regulatory agencies today reported in the 2024 Shared National Credit (SNC) report that credit risk associated with large, syndicated bank loans remains moderate. However, the agencies noted weakened credit quality trends continue due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors. The agencies…