ABA: Banks and Business Groups File Legal Challenge Against Federal Reserve Over Flawed Stress Testing Framework
The Bank Policy Institute, along with the American Bankers Association, the U.S. Chamber of Commerce, the Ohio Bankers League and the Ohio Chamber of Commerce today announced that they are filing litigation against the Federal Reserve, challenging the opaque aspects of the stress testing framework. While stress testing is an important risk management tool for banks and…
Federal Reserve: Public Comments Sought on Significant Changes to Improve Transparency of Bank Stress Tests
Due to evolving legal landscape & changes in the framework of administrative law, Federal Reserve Board will soon seek public comment on significant changes to improve transparency of bank stress tests & reduce volatility of resulting capital requirements n view of the evolving legal landscape, the Federal Reserve Board will soon seek public comment on…
SBA: Lending Network Strengthened with New Public-Private Partnerships Supporting Underserved Communities
Four New Small Business Lending Companies Authorized to Support America’s Entrepreneurs in Underserved Communities Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s more than 34 million small businesses in President Biden’s Cabinet, announced that the SBA has granted Small Business Lending Company (SBLC) licenses to four lending institutions committed…
HUD and Census Bureau: New Residential Sales Report for November 2024 Released
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for November 2024: New Home SalesSales of new single-family houses in November 2024 were at a seasonally adjusted annual rate of 664,000, according to estimates released jointly today by the U.S. Census Bureau and…
EDA: $5.5 Million Invested to Support the Agriculture Industry and Provide Electrical Infrastructure Improvements in Kansas
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $5.5 million in the state of Kansas to support the agriculture industry and make electrical infrastructure improvements needed to bolster economic opportunity in the region. The EDA investments announced today are: “The Biden-Harris Administration’s Investing in America Agenda is…
EDA: $4.1 Million Invested for Wastewater Infrastructure Improvements Needed to Support Job Creation in Neah Bay, WA
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $4.1 million grant to the Makah Indian Tribe of the Makah Indian Reservation in Neah Bay, Washington, for wastewater infrastructure improvements to support job creation. This grant will provide for the construction of a new climate-resilient wastewater collection…
EDA: $1.3 Million Invested to Boost Healthcare Workforce Development in Grand Forks, ND
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the University of North Dakota in Grand Forks, to support healthcare workforce development. This grant will provide for the procurement of a van and related equipment to allow the University to expand its medical…
SBA: President Biden Signs Law to Deliver Funding to SBA to Reopen Its Disaster Loan Program and Support Recovery in Communities Across the Country
SBA can now confirm loan offers to over 21,000 qualified disaster loan applicants waiting for financial assistance to recover Today, President Joe Biden signed(Link is external) the American Relief Act, 2025(Link is external) into law, providing funding for the U.S. Small Business Administration’s Disaster Loan Program. With this funding, which required Congressional approval, the SBA can resume processing urgently needed…
FHFA: 2025 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions Released
The annual list of objectives includes steps for the Enterprises to better manage risk, support market improvements, and facilitate enhanced resilience of the nation’s housing stock The Federal Housing Finance Agency (FHFA) released today the 2025 Scorecard for Fannie Mae and Freddie Mac (the Enterprises), establishing an array of objectives for them to operate safely…
OCC: Annual Report for 2024 Issued
The Office of the Comptroller of the Currency (OCC) today published its 2024 Annual Report. The OCC Annual Report provides Congress with an overview of the condition of the federal banking system, discusses the OCC’s strategic priorities and initiatives, and shares the agency’s financial management and condition. The report highlights the OCC’s work to advance…