Rep. Velázquez introduces bill to increase transparency of SBA loan program
U.S. Rep. Nydia Velázquez (D-NY) introduced legislation this week that’s designed to create a clearer picture of risk and fraud in the Small Business Administration’s (SBA) flagship lending program. The 7(a) Program is the SBA's primary lending program intended to operate at zero-subsidy, costing American taxpayers no money, a status that has historically been a bipartisan priority for members of the Committee. However, an investigation into the program by Democrats on the House Committe...
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Hometown Financial acquires New Hampshire bank, converts to public stock
Massachusetts-based Hometown Financial Group is acquiring Primary Bank, a publicly-traded commercial bank based in Bedfo...Read More »
Banking associations urge more clarity on Clarity Act
The American Bankers Association along with the Independent Community Bankers of America and 76 state banking associatio...Read More »
Genesco wins ISS backing as activist proxy fight heads toward shareholder vote
Genesco Inc. has secured the support of a major independent proxy advisory firm as it battles activist investors seeking...Read More »
ROAD to Housing act becomes law
The bipartisan, bicameral housing package called the 21st Century ROAD to Housing Act became law over the weekend. Th...Read More »
Fed appoints new leadership to its five task forces
The Federal Reserve appointed the new leaders of its task forces and established objectives for those groups to advance ...Read More »
Sen. Warren raises regulatory concerns about potential large bank acquisitions
U.S. Sen. Elizabeth Warren (D-MA) raised regulatory concerns about Citigroup’s potential acquisition plans. In late...Read More »
Federal Reserve seeks comments on proposal to amend AML programs for banks
The Federal Reserve Board is seeking feedback on a proposal to amend its requirements for banks to maintain anti-money l...Read More »
PNC Bank to add more nearly 100 branches in Florida
PNC Bank is realigning its Florida markets, as it plans to add nearly 100 new branches statewide by 2030. It is part ...Read More »
Ways and Means committee passes bill to allow IRS to use AI to catch fraud
A bill that encourages the Internal Revenue Service (IRS) to use AI tools to detect tax fraud was passed by the House Wa...Read More »
Education Freedom Tax Credits to boost school choice
The new Education Freedom Tax Credit will make taxpayers eligible for a credit up to $1,700 for qualified contributions ...Read More »
