The OCC yesterday released an updated version of its Bank Accounting Advisory Series that provides accounting guidance for accountants at financial institutions. The update, among other things, includes recent answers to frequently asked questions from banks and examiners about troubled debt restructurings, other real estate owned and pushdown accounting.
The Trump administration recognizes the important role that CDFI Fund plays in expanding access to capital, and CDFIs are a key component in promoting Main Street business development, Treasury Secretary Scott Bessent said in a statement.
MetroCity Bankshares has agreed to buy First IC Corp. in Georgia. Planters Holding has agreed to buy BSJ Bancshares in Louisiana.
Industrial production increased 0.7% in February from the previous month, the Federal Reserve reported. The February figure was up 1.4% from a year prior.
Housing starts increased by 11.2% in February from the month prior to a seasonally adjusted annual rate of 1.5 million, the Commerce Department reported. The rate was 2.9% below the February 2024 level.
FHFA Director Bill Pulte has named himself chairman of the Fannie Mae and Freddie Mac boards. Both boards also removed several members and made new appointments.
ABA joined other plaintiffs in filing a motion for summary judgment in a lawsuit challenging an Illinois law restricting interchange fees, pointing to the court’s previous finding that the plaintiffs were likely to succeed on their argument that...
