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  • FDIC says FDIC-Insured Institutions Reported Improved Profitability in Third Quarter 2020

    Federal Deposit Insurance Corporation says FDIC-Insured Institutions Reported Improved Profitability in Third Quarter 2020 | site |
    • Quarterly Net Income Improved, Primarily Because of Lower Provision Expense
    • Net Interest Margin Fell to a Record Low
    • Loan and Lease Balances Declined, Driven by Reduced Commercial and Industrial Lending Activity
    • Noncurrent Loan Balances Increased Modestly
    • Community Banks Reported a 10 Percent Increase in Net Income Year Over Year



    “The banking industry exhibited operational resiliency in the third quarter, with improvements in profitability despite continued headwinds and economic uncertainties resulting from the effects of the COVID-19 pandemic.”

    — FDIC Chairman Jelena McWilliams




    (Information contained in Federal Deposit Insurance Corporation press release: December 1, 2020)

    Washington - - The Federal Deposit Insurance Corporation (FDIC) today reported results from commercial...
    See more | Go to post

  • Article says U.S. Department of Education Uncovers Vast Underreporting of Foreign Gifts and Contracts by Higher Education Institutions

    Article says U.S. Department of Education Uncovers Vast Underreporting of Foreign Gifts and Contracts by Higher Education Institutions| site |



    Article says Investigations launched at the direction of Secretary DeVos reveal threats to academic freedom and national security



    (October 20, 2020) - - Today, October 20, 2020, the U.S. Department of Education published the following information: WASHINGTON – U.S. Secretary of Education Betsy DeVos unveiled a report today detailing the massive failure of many colleges and universities to disclose more than $6.5 billion in funding and resources from foreign sources including China, Russia, Saudi Arabia, the United Arab Emirates, and Qatar. Section 117 of the Higher Education Act requires institutions of higher education to transparently report foreign gifts and contracts, yet over the course of the last year, the Department has uncovered billions in unreported financial ties. “The threat...
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  • FDIC Proposes to Update Policy Statement on Minority Depository Institutions

    FDIC Proposes to Update Policy Statement on Minority Depository Institutions

    FDIC Proposes to Update Policy Statement on Minority Depository Institutions | site |




    (August 21, 2020) - - Today. August 21, 2020, the Federal Deposit Insurance Corporation published the following information:

    WASHINGTON—The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a new proposed Statement of Policy to enhance the agency’s efforts to encourage and preserve Minority Depository Institutions (MDIs). The proposed revisions would update, strengthen, and clarify the FDIC’s policies and procedures related to the agency’s existing MDI framework. The FDIC seeks public comment on the proposal over a 60-day period.

    Specifically, the proposed revisions describe the initiatives the FDIC has taken and will take to promote the preservation of MDIs and enhance communication between the FDIC and these minority-owned and managed institutions. The proposed Statement of Policy would also define
    ...
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  • Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19

    Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19 | site |




    Board of Governors of the Federal Reserve System

    Conference of State Bank Supervisors

    Consumer Financial Protection Bureau

    Federal Deposit Insurance Corporation

    National Credit Union Administration

    Office of the Comptroller of the Currency





    (March 22, 2020) - - Today (March 22, 2020), the Board of Governors of the Federal Reserve System published the following information: The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The agencies encourage financial institutions to work with borrowers, will not cri...
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  • Wells Fargo to Invest in African American Minority Depository Institutions

    Wells Fargo to Invest in African American Minority Depository Institutions

    Wells Fargo to Invest in African American Minority Depository Institutions | site | (March 14, 2020) - - On March 10, 2020 Wells Fargo (a financial institution) published the following information: SAN FRANCISCO--Wells Fargo today announced that it is seeking to invest up to $50 million in African American Minority Depository Institutions (MDIs). These investments are part of Wells Fargo’s commitment to supporting economic growth in African American communities where MDIs, often community based banks, provide mortgage credit, small business lending, and other banking services. Wells Fargo commends Congresswoman Joyce Beatty and Congressman Gregory Meeks for recently sponsoring legislation to enhance MDIs and these investments in African American MDIs will support the spirit of that legislation. “Our industry is stronger when we work together, shepherding resources for underserved individuals and small businesses to create economic opportunities that will strengthen the long-...
    See more | Go to post

  • Agencies encourage Financial Institutions to meet Financial Needs of Customers and Members affected by Coronavirus

    Agencies encourage Financial Institutions to meet Financial Needs of Customers and Members affected by Coronavirus| site |



    Board of Governors of the Federal Reserve System
    Consumer Financial Protection Bureau
    Federal Deposit Insurance Corporation
    National Credit Union Administration
    Office of the Comptroller of the Currency
    Conference of State Bank Supervisors
    (March 9, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information contained in a joint press release apparently issued by the agencies italicized above: Federal financial institution regulators and state regulators today encouraged financial institutions to meet the financial needs of customers and members affected by the coronavirus. The agencies recognize the potential impact of the coronavirus on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affe
    ...
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  • Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020

    Federal Reserve Board announces members of its Community Depository Institutions Advisory Council for 2020| site |



    (January 14, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2020. The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions, and credit unions serving on local advisory councils at the 12 Federal Reserve Banks. One member of each of the Reserve Bank councils serves on the CDIAC, which meets twice a year with the Federal Reserve Board in Washington. Further information on the CDIAC, including records from past meetings, can be found here. Dorothy A. Savarese, chair and chie...
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  • U.S. Secretary of Education Betsy DeVos Announces Proposed Rule Regarding Equal Treatment of Faith-Based Education Institutions, Provides Updated School Prayer Guidance

    U.S. Secretary of Education Betsy DeVos Announces Proposed Rule Regarding Equal Treatment of Faith-Based Education Institutions, Provides Updated School Prayer Guidance| site |



    (January 16, 2020) - - The U.S. Department of Education published (today) the following information:

    Washington — Today, U.S. Secretary of Education Betsy DeVos announced that the Department of Education is taking several concrete actions to protect religious liberty and ensure the Department is acting in accordance with the First Amendment. The Department announced a proposed rule ensuring the equal treatment and constitutional rights of religious organizations and faith-based institutions, as well as First Amendment freedoms owed to students on campus. As directed by Congress, the agency will also release updated guidance regarding constitutionally protected prayer in schools. "Our actions today will protect the constitutional rights of students, teachers, and faith-b
    ...
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  • U.S. Education Secretary DeVos Proposes Expanded Access to TEACH Grants, Religious Liberty Protections for Faith-Based Institutions

    U.S. Education Secretary DeVos Proposes Expanded Access to TEACH Grants, Religious Liberty Protections for Faith-Based Institutions | site |



    (December 10, 2019) - - Today, the U.S. Department of Education published the following information:

    WASHINGTON—U.S. Secretary of Education Betsy DeVos proposed a new rule, open for public comment today, that would expand access to Teacher Education Assistance for College Higher Education (TEACH) Grants and ensure religious liberty is protected for faith-based higher education institutions and their students. The proposed regulations are the result of historic consensus the Department reached during negotiated rulemaking earlier this year. Secretary DeVos said regarding the proposed TEACH Grants update, "This proposed rule ensures educators who received TEACH Grants and who are meeting their service requirements do not have their grants converted to loans improperly or as a result of confusing bureaucratic paperwork.
    ...
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  • Federal Reserve Board Finalizes New Supervisory Rating System for Large Financial Institutions

    Federal Reserve Board Finalizes New Supervisory Rating System for Large Financial Institutions



    (November 2, 2018) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday finalized a new supervisory rating system for large financial institutions that is aligned with the core areas most important to supporting a large firm's safety and soundness and U.S. financial stability. The Board's post-crisis supervisory program for large financial institutions focuses on capital, liquidity, and the effectiveness of its governance and controls. In each of those areas, supervisors will use the new rating system to assign a confidential rating to the firms. The new rating system will apply to all domestic bank holding companies and non-insurance, non-commercial savings and loan holding companies with $100 billion or more...
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  • Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Florence

    Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Florence



    Joint Release by:

    Board of Governors of the Federal Reserve System
    Conference of State Bank Supervisors
    Federal Deposit Insurance Corporation
    National Credit Union Administration
    Office of the Comptroller of the Currency



    September 14, 2018 The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators recognize the serious impact of Hurricane Florence on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision
    ...
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  • Federal Reserve Board Announces Members of its Community Depository Institutions Advisory Council for 2019

    Federal Reserve Board Announces Members of its Community Depository Institutions Advisory Council for 2019





    (September 7, 2018) - - he Federal Reserve Board on Friday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president and vice president of the council for 2019.

    The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions, and credit unions serving on local advisory councils at the 12 Federal Reserve Banks. One member of each of the Reserve Bank councils serves on the CDIAC, which meets twice a year with the Federal Reserve Board in Washington. Further information on the CDIAC can be found here: http://www.federalreserve.gov/aboutthefed/cdiac.htm. Christopher
    ...
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  • U. S. State Department Announces Top Fulbright U.S. Students and Scholars Producing Institutions

    U.S. State Department Announces Top Fulbright U.S. Students and Scholars Producing Institutions




    February 22, 2017


    Washington, DC - - (February 21, 2017) - - The U.S. State Department has highlighted the top Fulbright U.S. Students and Scholars producing institutions.

    Topping the list for sending the most U.S. Students abroad on the Fulbright Program are:
    • Brown University (RI)
    • Villanova University (PA)
    • Smith College (MA)


    The institutions sending the most Fulbright U.S. Scholars are:
    • The University of South Florida
    • California Polytechnic State University
    • United States Naval Academy (MD)
    • Fort Lewis College (CO)


    Fulbright Students are recent college graduates, graduate students, and early career professionals.

    Fulbright Scholars are faculty, researchers, administrators, and established professionals. The rankings are compiled by the State Department’s Bureau of Educatio
    ...
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  • Staff Reporter 1
    FDIC says FDIC-Insured Institutions Reported Improved Profitability in Third Quarter 2020
    by Staff Reporter 1
    Federal Deposit Insurance Corporation says FDIC-Insured Institutions Reported Improved Profitability in Third Quarter 2020 | site |
    • Quarterly Net Income Improved, Primarily Because of Lower Provision Expense
    • Net Interest Margin Fell to a Record Low
    • Loan and Lease Balances Declined, Driven by Reduced Commercial and Industrial Lending Activity
    • Noncurrent Loan Balances Increased Modestly
    • Community Banks Reported a 10 Percent Increase in Net Income Year Over Year



    “The banking industry exhibited operational resiliency in the third quarter, with improvements in profitability despite continued headwinds and economic uncertainties resulting from the effects of the COVID-19 pandemic.”

    — FDIC Chairman Jelena McWilliams




    (Information contained in Federal Deposit Insurance Corporation press release: December 1, 2020)

    Washington - - The Federal Deposit Insurance Corporation (FDIC) today reported results from commercial...
    12-02-2020, 06:09 AM
  • Staff Reporter 1
    Article says U.S. Department of Education Uncovers Vast Underreporting of Foreign Gifts and Contracts by Higher Education Institutions
    by Staff Reporter 1
    Article says U.S. Department of Education Uncovers Vast Underreporting of Foreign Gifts and Contracts by Higher Education Institutions| site |



    Article says Investigations launched at the direction of Secretary DeVos reveal threats to academic freedom and national security



    (October 20, 2020) - - Today, October 20, 2020, the U.S. Department of Education published the following information: WASHINGTON – U.S. Secretary of Education Betsy DeVos unveiled a report today detailing the massive failure of many colleges and universities to disclose more than $6.5 billion in funding and resources from foreign sources including China, Russia, Saudi Arabia, the United Arab Emirates, and Qatar. Section 117 of the Higher Education Act requires institutions of higher education to transparently report foreign gifts and contracts, yet over the course of the last year, the Department has uncovered billions in unreported financial ties. “The threat...
    10-22-2020, 01:57 AM
  • Staff Reporter 1
    FDIC Proposes to Update Policy Statement on Minority Depository Institutions
    by Staff Reporter 1
    FDIC Proposes to Update Policy Statement on Minority Depository Institutions | site |




    (August 21, 2020) - - Today. August 21, 2020, the Federal Deposit Insurance Corporation published the following information:

    WASHINGTON—The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a new proposed Statement of Policy to enhance the agency’s efforts to encourage and preserve Minority Depository Institutions (MDIs). The proposed revisions would update, strengthen, and clarify the FDIC’s policies and procedures related to the agency’s existing MDI framework. The FDIC seeks public comment on the proposal over a 60-day period.

    Specifically, the proposed revisions describe the initiatives the FDIC has taken and will take to promote the preservation of MDIs and enhance communication between the FDIC and these minority-owned and managed institutions. The proposed Statement of Policy would also define
    ...
    08-31-2020, 03:47 PM
  • Staff Reporter 1
    Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19
    by Staff Reporter 1
    Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19 | site |




    Board of Governors of the Federal Reserve System

    Conference of State Bank Supervisors

    Consumer Financial Protection Bureau

    Federal Deposit Insurance Corporation

    National Credit Union Administration

    Office of the Comptroller of the Currency





    (March 22, 2020) - - Today (March 22, 2020), the Board of Governors of the Federal Reserve System published the following information: The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The agencies encourage financial institutions to work with borrowers, will not cri...
    03-23-2020, 12:09 PM
  • Staff Reporter 1
    Wells Fargo to Invest in African American Minority Depository Institutions
    by Staff Reporter 1
    Wells Fargo to Invest in African American Minority Depository Institutions | site | (March 14, 2020) - - On March 10, 2020 Wells Fargo (a financial institution) published the following information: SAN FRANCISCO--Wells Fargo today announced that it is seeking to invest up to $50 million in African American Minority Depository Institutions (MDIs). These investments are part of Wells Fargo’s commitment to supporting economic growth in African American communities where MDIs, often community based banks, provide mortgage credit, small business lending, and other banking services. Wells Fargo commends Congresswoman Joyce Beatty and Congressman Gregory Meeks for recently sponsoring legislation to enhance MDIs and these investments in African American MDIs will support the spirit of that legislation. “Our industry is stronger when we work together, shepherding resources for underserved individuals and small businesses to create economic opportunities that will strengthen the long-...
    03-14-2020, 06:36 AM

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