ABA: Leading Financial Groups Commend Lawmakers for Taking First Step to Overturn Misguided CFPB Overdraft Rule
Leading financial groups that represent banks and credit unions of all sizes today sent letters Senate Banking Committee Chair Tim Scott (R-S.C.) and House Financial Services Committee Chair French Hill (R-Ark.) in support of their respective Congressional Review Act resolutions to invalidate the Consumer Financial Protection Bureau’s (CFPB) overdraft rule. As outlined in the letter,…
Sentors Scott, Hill Lead Effort to Roll Back CFPB Overdraft Rule
Senate Banking Committee Chairman Tim Scott (R-S.C.) and House Financial Services Committee Chairman French Hill (R-Ark.) today introduced Congressional Review Act (CRA) resolutions to overturn the Biden administration’s Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees at banks and credit unions. The committee leaders cited the rule’s impact on access to important financial…
HUD: HUD Secretary Turner Launches DOGE Task Force to Eliminate Waste, Fraud and Abuse
The U.S. Department of Housing and Urban Development (HUD) will launch a U.S. Department of Government Efficiency (DOGE) Task Force to review how HUD is spending American taxpayer dollars. The task force will be composed of HUD employees who will examine how to best maximize the agency’s budget and ensure all programs, processes and personnel…
ABA: Statement on Nominations of Jonathan Gould as Comptroller of the Currency and Jonathan McKernan as CFPB Director
“We congratulate Jonathan Gould on his nomination to serve as comptroller of the currency. His prior experience at the OCC – as well as his time as a top staffer on the Senate Banking Committee and as a financial regulatory attorney – will serve him well as the agency continues its important mission to promote…
CDFI Fund: Important Reminders for FY 2025 CDFI Program and NACA Program Round Applicants
As a reminder for fiscal year (FY) 2025 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) Applicants, the deadline for online submission of the SF-424 through Grants.gov for this year’s CDFI Program and NACA Program funding rounds is February 18, 2025 at 11:59 p.m. ET. Applicants must also have created…
ABA: ABA, Federal Reserve and OCC Leaders to Address Community Bankers at ABA Conference; Livestream Available February 17th and 18th
ABA President and CEO Rob Nichols, ABA Chair and Atlantic Union Bankshares CEO John Asbury, Federal Reserve Governor Michelle Bowman, San Francisco Fed President Mary C. Daly and Acting Comptroller of the Currency Rodney E. Hood will address community bankers from across the country at the American Bankers Association’s Conference for Community Bankers next week in Phoenix….
ICBA: CFPB’s 1071 Rule Again Paused by Court
A U.S. court of appeals temporarily paused the Consumer Financial Protection Bureau’s 1071 small-business rule and extended its compliance deadlines until further notice, as advocated by ICBA. Court Ruling: The U.S. Court of Appeals for the Fifth Circuit granted a request by ICBA and other plaintiffs to suspend implementation of the rule pending their ongoing legal…
HUD: Secretary Turner Halts Enforcement Actions of HUD’s Gender Identity Rule
Secretary Turner issued an order directing the U.S. Department of Housing and Urban Development (HUD) to halt any pending or future enforcement actions related to HUD’s 2016 rule entitled “Equal Access in Accordance With an Individual’s Gender Identity in Community Planning and Development Programs.” Secretary Turner’s action will ensure housing programs, shelters and other HUD-funded providers offer…
OCC: Rodney E. Hood Announced as Acting Comptroller of the Currency
Today, the U.S. Department of the Treasury announced the appointment of Rodney E. Hood as Acting Comptroller of the Currency, effective February 10, 2025. U.S. Secretary of the Treasury Scott Bessent designated Mr. Hood pursuant to his authority in 12 U.S.C. 4. “I am grateful for the trust of Secretary Bessent and will work diligently…
FEMA: One Month Later, Federal Support for Wildfire Survivors Nears $700 Million
On January 7, when wildfires first struck Los Angeles County and adjacent areas, more than 200,000Californians were evacuated. State and local governments responded quicky to fight the blazes, employing more than 2,000 pieces of firefighting equipment – 80-plus aircraft, 200-plus bulldozers and more – which were soon bolstered by the governor’s activation of 2,500 National Guard troops and a request for a federal disaster declaration. …