Washington—Today the U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial […]
Category Archives: U.S. Treasury
OCC Issues Third and Fourth Quarter 2020 CRA Evaluation Schedule
News Release 2020-68 | May 27, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third quarter and fourth quarter 2020. The OCC encourages public comment on the national banks and federal savings associations scheduled to be […]
Treasury Sanctions Senior Nicaraguan Government Officials, Increasing Pressure on President Ortega’s Regime
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two senior Nicaraguan government officials, Julio Cesar Aviles Castillo and Ivan Adolfo Acosta Montalvan for supporting the corrupt Ortega regime. Since April 2018, the Ortega regime has cracked down on political opposition, leading to more than 300 deaths, 2,000 […]
Comptroller of the Currency Joseph Otting to Step Down, Brian P. Brooks to Become Acting Comptroller of the Currency on May 29, 2020
News Release 2020-66 | May 21, 2020 Share This Page: WASHINGTON—Comptroller of the Currency Joseph M. Otting today announced he will step down from office on May 29, 2020, and pursuant to 12 USC 4 as designated by Secretary of the Treasury Steven T. Mnuchin, First Deputy and Chief Operating Officer Brian P. Brooks will become […]
Brian P. Brooks to Become Acting Comptroller of the Currency
WASHINGTON – Comptroller of the Currency Joseph M. Otting today announced that he will step down from office on May 29, 2020. As designated by Secretary of the Treasury Steven T. Mnuchin and pursuant to 12 USC 4, First Deputy Comptroller and Chief Operating Officer Brian P. Brooks will become Acting Comptroller of the Currency. […]
Remarks by Assistant Secretary Patel at the Exchequer Club
As prepared for delivery: May 20, 2020 1:00 p.m. EST Washington, DC Introduction Good afternoon. It is my true pleasure to speak to this esteemed audience today. Thank you Jim for the introduction and for organizing this event. I would like to divide my remarks into three parts. First, nearly two months since the historic […]
Federal Agencies Share Principles for Offering Responsible Small-Dollar Loans
News Release 2020-65 | May 20, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The federal financial institution regulatory agencies today issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers’ short-term credit […]
Comptroller of the Currency Highlights Final Rule Strengthening and Modernizing the Community Reinvestment Act
WASHINGTON—Comptroller of the Currency Joseph M. Otting today issued the following statement on the finalization of a rule to strengthen and modernize Community Reinvestment Act (CRA) regulations. Today, the OCC took an important step forward to strengthen and modernize the regulatory framework implementing the CRA. By finalizing the rule to improve the regulatory framework, we […]
OCC Finalizes Rule to Strengthen and Modernize Community Reinvestment Act Regulations
News Release 2020-63 | May 20, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a final rule strengthening and modernizing the agency’s regulations under the Community Reinvestment Act (CRA). The final rule will increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant […]
Treasury Sanctions Iran’s Interior Minister and Senior Law Enforcement Officials in Connection with Serious Human Rights Abuses
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Iran’s Interior Minister for his role in serious human rights abuses against Iranians, as well as seven senior officials of Iran’s Law Enforcement Forces (LEF) and a provincial commander of Iran’s Islamic Revolutionary Guard Corps (IRGC). Today’s […]