Treasury Department's State Small Business Credit Initiative Releases Quarterly Report
On March 19, the U.S. Treasury Department's State Small Business Credit Initiative (SSBCI) released a new Quarterly Report detailing how the program continues to help small businesses grow and create jobs. More than $1.1 billion is now at work across the country to spur small business lending and investments. Release. Report.
Comptroller of the Currency Discusses Tailoring Supervisory Expectations to the Size and Complexity of Regulated Institutions
On March 19, the Comptroller of the Currency, Thomas Curry, discussed the Office of the Comptroller of the Currency's approach to tailoring regulatory and supervisory expectations to the size and complexity of supervised institutions. His remarks were part of testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Release. Written Testimony.
HUD and Census Bureau Announce New Residential Construction Activity in February
On March 19, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for February 2015: (i) BUILDING PERMITS: Privately owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,092,000. This is 3.0 percent (±1.7%) above the revised January rate of 1,060,000, but is 7.7 percent (±2.0%) above the February 2014 estimate of 1,014,000. Release.
CFTC Approves Final Rule on Residual Interest Deadline for Futures Commission Merchants
On March 17, the U.S. Commodity Futures Trading Commission (Commission) unanimously approved a final rule removing the December 31, 2018 automatic termination of the phased-in compliance period for the Residual Interest Deadline for futures commission merchants (FCMs). Release.
CFPB Launches Public Inquiry to Inform Agency Review of the Credit Card Market
On March 17, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on how the credit card market is functioning and the impact of credit card protections on consumers and issuers. This public inquiry will focus on issues including credit card terms, the use of consumer disclosures, credit card debt collection practices, and rewards programs, among others. Release.
FHFA Report Details Progress on the 2014 Strategic Plan for Fannie Mae and Freddie Mac Conservatorships
On March 16, the FHFA issued a Progress Report on the initiatives outlined in the 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac and the 2014 Conservatorship Scorecard. The Progress Report describes activities Fannie Mae and Freddie Mac undertook in 2014 to further FHFA's conservatorship goals: Maintain, Reduce, and Build. Release. Report.
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