Compliance, Employment Initiatives 17 Jan 2025 regulatory compliance, information collection, federal housing finance agency, diversity initiatives, minority inclusion

📊FHFA Seeks Comments on Diversity and Inclusion Data Collection

In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the Federal Housing Finance Agency (FHFA or the Agency) is seeking public comments concerning an information collection known as "Minority and Women Inclusion," which has been assigned control number 2590-0014 by the Office of Management and Budget (OMB). FHFA intends to submit the information collection to OMB for review and approval of a three-year extension of the control number, which is due to expire on March 31, 2025.

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Compliance, Regulatory 16 Jan 2025 administrative practice and procedure, reporting and recordkeeping requirements, inflation adjustment, penalties, flood insurance, business regulations, compliance requirements, civil money penalties, federal housing finance agency, government-sponsored enterprises

💼FHFA Final Rule on Civil Money Penalties and Inflation Adjustments

The Federal Housing Finance Agency (FHFA) is adopting this final rule amending its Rules of Practice and Procedure and other agency regulations to adjust each civil money penalty within its jurisdiction to account for inflation, pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.

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Compliance, Regulatory Updates 15 Jan 2025 regulation, financial institutions, asset cap, federal housing finance agency, community financial institutions

💼Annual Adjustments to Community Financial Institutions Asset Cap for 2025

The Federal Housing Finance Agency (FHFA) has adjusted the cap on average total assets that is used in determining whether a Federal Home Loan Bank (Bank) member qualifies as a "community financial institution" (CFI) to $1,500,000,000, based on the annual percentage increase in the Consumer Price Index for all urban consumers (CPI-U), as published by the Department of Labor (DOL). This change is effective as of January 1, 2025.

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