FEMA: President Biden Approves Major Disaster Declaration for North Carolina
FEMA announced that federal disaster assistance is available to the state of North Carolina to supplement recovery efforts in the areas affected by Potential Tropical Cyclone Eight from Sept. 16-20, 2024. Federal funding is available to state, tribal, and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and…
FHFA: Rule Proposed to Improve Federal Home Loan Bank Governance
The Federal Housing Finance Agency (FHFA) issued a notice of proposed rulemaking which addresses boards of directors and executive management of the Federal Home Loan Banks (FHLBanks) and the FHLBank System’s Office of Finance. The proposed rule will update and clarify regulatory requirements on a variety of corporate governance topics. “The Federal Home Loan Bank…
ABA: Seven Banks Win ABA Foundation 2024 Community Commitment Awards
The American Bankers Association Foundation today named seven banks as 2024 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized at ABA’s Annual Convention in New York City on Oct. 29. The selection committee, made up…
ABA: Texas Banker Raul Valles Wins ABA Foundation Distinguished Service Award
The ABA Foundation has named Raul Valles, vice president of commercial real estate for Dallas Capital Bank in Dallas, the winner of its 2024 George Bailey Distinguished Service Award for his extraordinary commitment to supporting the military community throughout his banking career. Valles has worked in banking for more than 20 years, while also serving…
OCC: Receiver Appointed for The First National Bank of Lindsay, OK
The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for The First National Bank of Lindsay, in Lindsay, Oklahoma. As of June 30, 2024, the bank reported approximately $108 million of total assets. The OCC acted after identifying false and deceptive bank records and other…
FDIC: First Bank & Trust Co., Duncan, OK Acquires Insured Deposits of The First National Bank of Lindsay, OK
The First National Bank of Lindsay, Lindsay, Okla., was closed today by the Office of the Comptroller of the Currency (OCC), which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with First Bank & Trust Co. Duncan, Okla., to assume the insured…
FEMA: President Biden Approves Major Disaster Declaration for Alaska
FEMA announced that federal disaster assistance is available to the state of Alaska to supplement recovery efforts in the areas affected by flooding from Aug. 5-6, 2024. The President’s action makes federal funding available to affected individuals in the City and Borough of Juneau. Assistance can include grants for temporary housing and home repairs, low-cost…
FHFA: Report Shows that FHLBanks Helped Nearly 65,000 Households Through Key Affordable Housing, Community Development Programs
The findings from the Federal Housing Finance Agency highlighted significant growth in resources allocated by the Federal Home Loan Banks for programs aiding lower-income communities The Federal Home Loan Banks’ (FHLBanks) affordable housing and community development support grew significantly last year, as earnings improvement across the FHLBank System corresponded with greater commitments to lower-income communities,…
ABA: Bank Employees Across U.S. Celebrate 21st Annual Get Smart About Credit Day
Bank employees across the country will celebrate the American Bankers Association Foundation’s Get Smart About Credit campaign today and throughout the year by educating teens and young adults about a range of personal finance topics. Get Smart About Credit Day, celebrated annually on the third Thursday of October, is one of three ABA Foundation youth financial education…
ABA: Bank Economists Expect Credit Conditions to Improve for Both Consumers and Small Businesses for First Time Since 2022
For the first time in nearly three years, lending conditions are expected to strengthen over the next six months for both consumers and businesses, according to the American Bankers Association’s latest Credit Conditions Index released today. The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets…