Featured Stories
SBA Relief Still Available to California Small Businesses and Private Nonprofits Affected by 2025 Late December Storms
WASHINGTON, Oct. 8 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:
* * *
SBA Relief Still Available to California Small Businesses and Private Nonprofits Affected by 2025 Late December Storms
*
WASHINGTON -- The U.S. Small Business Administration is reminding eligible small businesses and private nonprofit organizations in California of the Nov. 6 deadline to apply for low-interest federal disaster loans to offset economic losses caused by the storms occurring Dec. 16 - 26, 2025.
The disaster declaration covers the California counties
... Show Full Article
WASHINGTON, Oct. 8 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:
* * *
SBA Relief Still Available to California Small Businesses and Private Nonprofits Affected by 2025 Late December Storms
*
WASHINGTON -- The U.S. Small Business Administration is reminding eligible small businesses and private nonprofit organizations in California of the Nov. 6 deadline to apply for low-interest federal disaster loans to offset economic losses caused by the storms occurring Dec. 16 - 26, 2025.
The disaster declaration covers the California countiesof Alpine, Fresno, Inyo, Kern, Madera, Mono, San Luis Obispo, Santa Barbara, Tuolumne, and Ventura, as well as the Nevada counties of Douglas, Esmeralda, Lyon, and Mineral.
Under this declaration, SBA's Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, and private nonprofit organizations -- including faith-based organizations -- impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.
Economic Injury Disaster Loans are for working capital needs caused by the disaster and are available even if the small business or private nonprofit did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.
"SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery," said Chris Stallings, Associate Administrator of the Office of Disaster Recovery at SBA. "These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster."
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for private nonprofits with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA determines eligibility and sets loan amounts and terms based on each applicant's financial condition.
To apply online, visit sba.gov/disaster. Applicants may also call SBA's National Support Network Center at (866) SBA-HELP or email disastercustomerservice@sba.gov for more information on disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
Submit completed loan applications to the SBA no later than Nov. 6. However, after the deadline has passed, there is a 60-day grace period in which SBA will accept applications.
***
Original text here: https://www.sba.gov/article/2026/10/06/sba-relief-still-available-california-small-businesses-private-nonprofits-affected-2025-late
Federal Reserve Taps GSA to Lead HQ Renovations as Chairman Warsh Moves to Rein in Costs
WASHINGTON, Oct. 8 -- The General Services Administration issued the following news release:
* * *
The Federal Reserve Taps GSA to Lead HQ Renovations as Chairman Warsh Moves to Rein in Costs
Chairman Warsh Partners with GSA Following Explosive OIG Report Finding Federal Reserve Renovation Costs Rose from $1.3B to $2.4B Under Previous Chairman Powell's Leadership
-
WASHINGTON, D.C. -- Yesterday, Federal Reserve Board (the Fed) Chairman Kevin Warsh announced that the U.S. General Services Administration (GSA) will serve as Project Executive for the central bank's renovation of their headquarters
... Show Full Article
WASHINGTON, Oct. 8 -- The General Services Administration issued the following news release:
* * *
The Federal Reserve Taps GSA to Lead HQ Renovations as Chairman Warsh Moves to Rein in Costs
Chairman Warsh Partners with GSA Following Explosive OIG Report Finding Federal Reserve Renovation Costs Rose from $1.3B to $2.4B Under Previous Chairman Powell's Leadership
-
WASHINGTON, D.C. -- Yesterday, Federal Reserve Board (the Fed) Chairman Kevin Warsh announced that the U.S. General Services Administration (GSA) will serve as Project Executive for the central bank's renovation of their headquarterslocated in the Eccles and East Buildings. In a letter to Inspector General Horowitz [PDF - 798 KB], Warsh stated he was enlisting GSA to work with the Fed "in the task of finally bringing the renovations to a speedy and successful completion."
"GSA fully supports Chairman Kevin Warsh's efforts to bring greater accountability, cost discipline, and effective project management to major renovation work across Federal Reserve facilities," said GSA Administrator Edward C. Forst. "As the federal government's primary real estate and building management agency, GSA will work closely with the Chairman and bring its expertise in construction, project management, and federal real estate to get these projects back on track. Together, we will focus on delivering better value for taxpayers and ensuring the Federal Reserve's facilities are positioned to better serve the American people."
The move follows a highly critical report by the Office of Inspector General (OIG), which found serious mismanagement of the Federal Reserve's renovation of the Eccles and East Buildings under former Federal Reserve Chairman Jerome Powell. According to the OIG, project costs ballooned from an initial estimate of $1.3 billion in 2020 to $2.4 billion by December 2024 during Chairman Powell's tenure, with uncertainty remaining over how much further costs have climbed since. The report also found that the Federal Reserve failed to establish a guaranteed maximum price for the project.
Exclusive Coverage by Fox News here (https://www.foxbusiness.com/economy/feds-warsh-cracks-down-renovation-taps-gsa-lead).
* * *
About GSA: GSA provides centralized procurement and shared services for the federal government, managing approximately 360 million rentable square feet, overseeing over $126 billion in products and services via federal contracts, and delivering technology services to millions of people across dozens of federal agencies. GSA's mission is to deliver exceptional customer experience and value in real estate, acquisition, and technology. To address nearly $50 billion in delinquent maintenance, GSA is leading a coalition of every cabinet agency and many federal leaders urgently advocating for full Federal Buildings Fund access and raising the prospectus threshold from $3.96 million to $75 million. For more information, visit GSA.gov and follow @USGSA.
* * *
Original text here: https://www.gsa.gov/about-gsa/newsroom/news-releases/the-federal-reserve-taps-gsa-to-lead-hq-renovations-as-chairman-warsh-moves-to-r-10012026
Smithsonian Books To Publish the Definitive Book on Groundbreaking Jeweler Art Smith
WASHINGTON, Oct. 7 -- The Smithsonian Institution issued the following news release:
* * *
Smithsonian Books To Publish the Definitive Book on Groundbreaking Jeweler Art Smith
Available Tuesday, Oct. 6
October 6, 2026
Smithsonian Books, in association with the Smithsonian's National Museum of African American History and Culture (NMAAHC), will release Bodyworks: The Jewelry of Art Smith to commemorate one of the most innovative 20th-century American jewelers. Art Smith (1917-1982) regarded the human body as its own design element.
His bold and fluid designs redefined modernist jewelry and
... Show Full Article
WASHINGTON, Oct. 7 -- The Smithsonian Institution issued the following news release:
* * *
Smithsonian Books To Publish the Definitive Book on Groundbreaking Jeweler Art Smith
Available Tuesday, Oct. 6
October 6, 2026
Smithsonian Books, in association with the Smithsonian's National Museum of African American History and Culture (NMAAHC), will release Bodyworks: The Jewelry of Art Smith to commemorate one of the most innovative 20th-century American jewelers. Art Smith (1917-1982) regarded the human body as its own design element.
His bold and fluid designs redefined modernist jewelry andled him to create custom pieces for such high-profile individuals as First Lady Eleanor Roosevelt and jazz pianist Duke Ellington.
The book features 160 archival images and photos that highlight Smith's life, career and the intricate details of his jewelry, including newly commissioned photography of his work, unpublished design sketches and personal and family photographs.
Essays from Smithsonian curator Joanne Hyppolite and art historian Toni Greenbaum explore his practice and his legacy, revealing an artist influenced by jazz, dance, visual art, pan-African regalia and postwar scientific discoveries. Bodyworks draws on two untapped archival collections held by NMAAHC, which includes biographical materials, and more than 60 jewelry pieces from the museum's holdings, along with those of other museums and private collections.
Smith was already a pioneer in his field as a Black, gay jeweler, but his work that moved to its own rhythm made him a trailblazer who continues to inspire artists. Bodyworks is a stunning, well-researched tribute to one of the jewelry world's finest craftsmen.
* * *
About the Authors
Joanne Hyppolite is the assistant director for culture at NMAAHC, the only national museum devoted exclusively to the documentation of African American life, history and culture. She is the curator of "Cultural Expressions," a permanent exhibition that showcases Smith's work. Under her direction, the museum has acquired two major archival collections on Smith.
Toni Greenbaum is an art historian specializing in 20th- and 21st-century jewelry and metalwork. She has written extensively on modernist jewelry, including Messengers of Modernism: American Studio Jewelry 1940-1960, considered the standard text on the subject.
* * *
About the Book
Title: Bodyworks: The Jewelry of Art Smith
On-Sale Date: 10/6/26
Price: $50.00 US / $66.00 CAN
Pages: 176
ISBN: 9781588348234
Available wherever books are sold.
Smithsonian Books
* * *
Original text here: https://www.si.edu/newsdesk/releases/smithsonian-books-publish-definitive-book-groundbreaking-jeweler-art-smith
SSA Missed Opportunities to Inform Disabled Beneficiaries of Their Potential Eligibility for Higher Retirement Benefits
WOODLAWN, Maryland, Oct. 7 (TNSbrep) -- The Social Security Administration Office of the Inspector General issued the following news release:
* * *
SSA Missed Opportunities to Inform Disabled Beneficiaries of Their Potential Eligibility for Higher Retirement Benefits
October 06, 2026
The Social Security Administration's (SSA) Office of the Inspector General (OIG) released an audit report, Follow-up on Disabled Beneficiaries Who Are Eligible for Higher Retirement Insurance Benefits. The audit examined whether SSA properly notified certain disabled beneficiaries--specifically those whose disability
... Show Full Article
WOODLAWN, Maryland, Oct. 7 (TNSbrep) -- The Social Security Administration Office of the Inspector General issued the following news release:
* * *
SSA Missed Opportunities to Inform Disabled Beneficiaries of Their Potential Eligibility for Higher Retirement Benefits
October 06, 2026
The Social Security Administration's (SSA) Office of the Inspector General (OIG) released an audit report, Follow-up on Disabled Beneficiaries Who Are Eligible for Higher Retirement Insurance Benefits. The audit examined whether SSA properly notified certain disabled beneficiaries--specifically those whose disabilitybenefits the Social Security Act requires SSA to reduce because they also received workers' compensation or public disability benefits--about their potential eligibility for higher retirement benefits.
This issue was first identified in a 2015 OIG audit, which found that SSA needed to improve its controls to ensure it informed disabled beneficiaries of their eligibility for higher retirement benefits and documented reasons when beneficiaries chose not to file. SSA agreed to take corrective action and later automated portions of its process to notify beneficiaries. However, this follow-up audit found that notification and documentation deficiencies persisted.
Based on the results of sample, OIG estimated SSA:
* did not notify 8,726 beneficiaries of their option to file for higher retirement benefits; and
* notified 3,659 beneficiaries but did not appropriately document their decisions not to file or reasons they did not file.
OIG estimated these beneficiaries could have been entitled to about $84 million in additional benefits; however, statutory restrictions prevent SSA employees from taking actions to issue the payments.
Auditors also determined SSA may be able to pay an estimated $41 million to an additional 4,785 beneficiaries who previously filed for retirement benefits but were not paid the correct, higher amount.
The report concludes that, while SSA has taken steps in recent years to automate its notification processes, gaps remain-- particularly in documenting decisions, ensuring correct payments when beneficiaries elect the higher benefit, and following up with non responders.
"Ensuring disabled beneficiaries are fully informed of their filing options--and accurately paid when they elect higher retirement benefits--is essential to delivering the customer service the public deserves," said Michelle L. Anderson, Assistant Inspector General for Audit as First Assistant. "These disabled beneficiaries depend on SSA to provide timely information that supports sound retirement decisions. Our findings show there is still work to be done to strengthen these processes and help safeguard beneficiaries' financial well-being."
The OIG made four recommendations aimed at improving notification, documentation, and payment accuracy, SSA agreed to implement all recommendations. These include correcting beneficiary records, refining processes to identify and address similar cases, improving controls over employee actions, and clarifying policy guidance--particularly related to how SSA follows up with beneficiaries who do not respond.
Read the full report here (https://oig.ssa.gov/~assets/audits/full/012320.pdf).
* * *
Original text here: https://oig.ssa.gov/news-releases/2026-10-06-ssa-missed-opportunities-to-inform-disabled-beneficiaries-of-their-potential-eligibility-for-higher-retirement-benefits/
Report Finds SSA Can Improve Accuracy of Child's Insurance Benefit Disability Determinations
WOODLAWN, Maryland, Oct. 7 (TNSbrep) -- The Social Security Administration Office of the Inspector General issued the following news release:
* * *
Report Finds SSA Can Improve Accuracy of Child's Insurance Benefit Disability Determinations
October 06, 2026
The Social Security Administration (SSA) did not consistently follow required policy when denying and later approving certain child's insurance benefit claims, according to a new report issued by the Office of the Inspector General (OIG). The audit examined whether SSA correctly denied initial claims for child's insurance benefits after
... Show Full Article
WOODLAWN, Maryland, Oct. 7 (TNSbrep) -- The Social Security Administration Office of the Inspector General issued the following news release:
* * *
Report Finds SSA Can Improve Accuracy of Child's Insurance Benefit Disability Determinations
October 06, 2026
The Social Security Administration (SSA) did not consistently follow required policy when denying and later approving certain child's insurance benefit claims, according to a new report issued by the Office of the Inspector General (OIG). The audit examined whether SSA correctly denied initial claims for child's insurance benefits afterfinding the claimants were not disabled and whether it properly paid benefits when those claims were later approved.
OIG reviewed a statistically valid sample of 100 claims from a population of 5,237 child's insurance benefit claims filed between January 2023 and November 2025. All sampled claims had been initially denied after SSA determined the claimants were not disabled but were later approved.
The audit found that SSA correctly denied--and subsequently approved and paid--49 of the 100 reviewed claims. However, for the remaining 51 claims, SSA employees did not correctly deny the claims, process required documentation, and/or compute payments after approval.
Based on the sample, OIG estimated:
* SSA employees incorrectly denied an estimated 600 claims by not following policy.
* In an estimated 450 claims, SSA employees did not document required steps before denying claims for missing forms or evidence.
* After claims were later approved, SSA employees did not correctly determine entitlement dates or compute payments for an estimated 1,100 claimants, resulting in underpayments of approximately $1.2 million.
The review also found instances in which employees should have adopted prior disability determinations instead of forwarding claims for new determinations, contributing to significant delays for some applicants.
The OIG recommended SSA:
1. Correct entitlement dates or benefit payments for identified claimants, and
2. Address the underlying factors contributing to policy non-compliance in determining whether to adopt prior disability determinations.
SSA agreed to implement both recommendations.
"These findings highlight opportunities for the Agency to strengthen its processes and ensure claimants receive timely and accurate decisions," said Michelle L. Anderson, Assistant Inspector General for Audit as First Assistant. "When employees do not follow policies, claimants can face unnecessary delays and financial hardship. We appreciate SSA's agreement with our recommendations and look forward to its corrective actions to better serve the public."
Read the full report here (https://oig.ssa.gov/~assets/audits/full/052610.pdf).
* * *
Original text here: https://oig.ssa.gov/news-releases/2026-10-06-report-finds-ssa-can-improve-accuracy-of-child%E2%80%99s-insurance-benefit-disability-determinations/
Federal Housing Finance Agency Issues Letter to Senate, House Committees Chairmen, Ranking Members
WASHINGTON, Oct. 7 (TNSletter) -- The Federal Housing Finance Agency issued the following letter to Senate Banking, Housing and Urban Affairs, Senate Homeland Security and Governmental Affairs, House Financial Services and House Oversight and Government Reform committee leaders:
* * *
Here is the text of the letter:
September 30, 2026
The Honorable Rand Paul
Chairman
Committee on Homeland Security and Governmental Affairs
United States Senate
Washington, D.C. 20510
-
The Honorable Gary Peters
Ranking Member
Committee on Homeland Security and Governmental Affairs
United States Senate
Washington,
... Show Full Article
WASHINGTON, Oct. 7 (TNSletter) -- The Federal Housing Finance Agency issued the following letter to Senate Banking, Housing and Urban Affairs, Senate Homeland Security and Governmental Affairs, House Financial Services and House Oversight and Government Reform committee leaders:
* * *
Here is the text of the letter:
September 30, 2026
The Honorable Rand Paul
Chairman
Committee on Homeland Security and Governmental Affairs
United States Senate
Washington, D.C. 20510
-
The Honorable Gary Peters
Ranking Member
Committee on Homeland Security and Governmental Affairs
United States Senate
Washington,D.C. 20510
-
The Honorable James Comer
Chairman
Committee on Oversight and Government Reform
U.S. House of Representatives
Washington, D.C. 20515
-
The Honorable Robert Garcia
Ranking Member
Committee on Oversight and Government Reform
U.S. House of Representatives
Washington, D.C. 20515
-
The Honorable Tim Scott
Chairman
Senate Committee on Banking, Housing, and Urban Affairs
United States Senate
Washington, D.C. 20510
-
The Honorable Elizabeth Warren
Ranking Member
Senate Committee on Banking, Housing, and Urban Affairs
United States Senate
Washington, D.C. 20510
-
The Honorable French Hill
Chairman
U.S. House Committee on Financial Services
U.S. House of Representatives
Washington, D.C. 20515
-
The Honorable Maxine Waters
Ranking Member
U.S. House Committee on Financial Services
U.S. House of Representatives
Washington, D.C. 20515
-
Dear Chairmen and Ranking Members:
I am the Acting Principal Deputy Inspector General, Performing the Duties of the Inspector General, for the Federal Housing Finance Agency (FHFA or Agency), Office of Inspector General (OIG). Consistent with the provisions of Sections 604(C)(3) and 604(g)(3)(E) of the IG Act, I am writing to advise each of your Committees that the level of Fiscal Year (FY) 2027 funding FHFA has allocated to OIG for operations is insufficient to support the effective execution of oversight and investigative duties of our office. In my judgment, this constitutes an unreasonable refusal to provide necessary resources to an Inspector General.
With respect to budget for an Inspector General's office, Section 604(g)(E) requires that the budget the President submits to Congress include any comments of an "affected" Inspector General if the Inspector General concludes that proposed funding level would "substantially inhibit" the Inspector General from performing the duties of the office. On April 2, 2026, the President submitted his proposed FY 2027 budget to Congress; that budget included an estimated funding level for OIG of $55 million, an amount sufficient to fund the effective execution of our duties. Consequently, OIG did not provide a statement for inclusion in the budget regarding its sufficiency. On August 31, 2026, however, the Agency advised me for the first time that it had decided to dramatically reduce the funding level set forth in the President's budget. By this letter, I am providing the comments I would have provided if the President's FY 2027 budget had included funding at the level that FHFA ultimately allocated to OIG.
I have carefully reviewed the budgetary requirements of our office and concluded that FHFA's allocated funding level for OIG operations in FY 2027, a total of $20 million, will substantially inhibit our ability to conduct independent, objective, and effective audits, reviews, and assessments of the Agency's programs and operations and criminal investigations. Funding at $20 million represents a 63.6% reduction from the FY 2027 Budget submitted by the President to Congress; a $61.3% reduction from our FY 2026 operating budget, and a 60% reduction from the final funding request we submitted to FHFA for our FY 2027 budget. We will be forced to reduce staffing by approximately 70-80% in FY 2027, which will result in the discontinuance of essentially all criminal investigations conducted by our Office of Investigations. Simply stated, funding at the $20 million level will eliminate our capacity to effectively conduct criminal investigation of mortgage, bank, and other fraud schemes involving the entities FHFA regulates - the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), U.S. Financial Technology, LLC (U.S. FinTech), and the 11 Federal Home Loan Banks (FHLBs) (hereafter, the "regulated entities").
Background
Neither FHFA nor OIG are funded through the appropriations process. Instead, pursuant to the Housing and Economic Recovery Act of 2008 (HERA), FHFA and OIG are funded through assessments collected from the regulated entities.1 Since the establishment of OIG in FY 2011, OIG has provided FHFA with an annual request for funding for inclusion in the assessments levied on the regulated entities. Prior to FY 2027, without exception, FHFA included OIG's requested amount in the assessments and timely transferred OIG's share of the assessments to fund our operations.2
OIG's process for determining the appropriate level of funding for operations, which differs from the budget methodology of most other OIGs, has also remained consistent since our inception, as has Congressional and Office of Management and Budget (OMB) concurrence with that methodology.3 OIG's budget determination process directly derives from the unique mission and authorities of FHFA. Fannie Mae and Freddie Mac (collectively, the Government Sponsored Entities or GSEs) have a combined asset total exceeding $7.8 trillion and OIG is the primary law enforcement entity responsible for ensuring that mortgage fraud in this market is investigated and prosecuted. Moreover, FHFA functions as both the regulator and, since September of 2008, the conservator of the GSEs. FHFA's conservatorship authority over the GSEs is essentially unlimited. That is, it has complete control of their assets and exercises all the powers of their shareholders, directors, and officers. The conservatorship authority is unique among all federal regulatory agencies.
Taking into account FHFA's distinct and extensive conservatorship authority, and the enormous risks to the U.S. financial system inherent in the operations of the regulated entities, OIG's benchmark for staffing and funding is not, as is the case with most federal OIGs, based on a ratio to the staffing and budget of the parent establishment, FHFA. Since its inception, OIG's formula for budgeting and staffing has taken into consideration the operational budgets and staffing of FHFA, plus the GSEs, and 11 FHLBs as the potential victims of mortgage fraud. (See Attachment A, OIG email dated August 21, 2021, detailing the OIG's budget formulation process for the Government Accountability Office). Historically, we applied a budget formulation of approximately 1% of the combined operating budgets and staffing of those entities, together with FHFA. As the regulated entities have recovered from the financial crisis, and have extensively expanded in recent years, the actual ratio of OIG's budget to that benchmark has fallen substantially below 1% without having a significant adverse effect on our operational capacity.
The resulting funding levels that OIG has requested and received since 2011 reflect consistency in our operations, has fostered effective oversight, and has supported the investigative capacity necessary to detect, deter, and prosecute fraud in the GSE and FHLBs' share of the massive mortgage marketplace. These levels were:
* FY 2012 through 2015: $48 million
* FY 2016 through 2022: $49.9 million
* FY 2023: $55 million
* FY 2024: $57 million
* FY 2025: $58.5 million
* FY 2026: $51.7 million
OIG's Budget Formula is Essential to Ensuring Criminal Investigative Capacity
A budget formulation model that takes into account the operations of the regulated entities is the means by which OIG has been able to maintain the audit capacity necessary to fulfil our statutory obligations while also supporting a national criminal mortgage fraud enforcement program - a capacity which distinguishes FHFA-OIG from other OIGs whose parent agencies approximate the size and funding of FHFA. OIG has maintained a highly trained and skilled cadre of financial crimes special agents (series 1811) and analysts to detect, investigate, and refer for prosecution mortgage fraud and other crimes involving the regulated entities. We also have maintained a small but highly qualified cadre of investigative counsel with extensive federal prosecution experience who serve as Special Assistant United States Attorneys (SAUSAs) to prosecute cases developed by our agents and partner agencies. In recent years, our special agent cadre has numbered around 40 agents, who are primarily deployed to field offices across the country, complemented by three SAUSAs. Our criminal enforcement program has been highly effective, resulting in more than 1,270 convictions and nearly $75 billion in monetary results since 2011.
If OIG had utilized a traditional OIG-to-parent-establishment ratio for budget formulation, it would have been unable to establish and sustain this criminal investigative capacity; instead, our investigative capacity would have been limited to 2-3 personnel focused exclusively on misconduct within the Agency, such as time-card fraud. As our budget history reflects, that is not the structure Congress and the Executive branch intended for FHFA-OIG. Moreover, until August 31, 2026, when I first received notice from FHFA that the Agency was reducing OIG's FY 2027 funding to $20 million, I had no reason to expect such a sudden and dramatic budget reduction.
FHFA's Response to OIG's FY 2027 Budget Request
The funding request OIG originally submitted to FHFA for FY 2027 was directly benchmarked to the President's budget and was specifically formulated to enhance our criminal enforcement and fraud detection capacity, strengthening our ability to support the President's key national priority of "combating the rampant and pervasive problem of fraud in the United States." (President's Fiscal Year 2027 Topline at page 3, issued April 3, 2026). Per established protocol, OIG submitted its original request for funding to FHFA on July 31, 2026. That original request was for $57.6 million.4
FHFA provided no indication it was not accepting that funding request until August 31, 2026, a full month later. On August 31, 2026, I received a letter from the FHFA General Counsel advising me that FHFA planned to allocate "no more than $20 million for [OIG's] FY 2027 budget. That figure is not an approved amount, an entitlement, or a floor. Instead, it is a maximum planning ceiling."
Following receipt of the General Counsel's letter, I engaged in extensive dialogue with him regarding the level of funding that I had determined, in my capacity as the senior agency official performing the duties of the Inspector General, was the minimum required for OIG to effectively carry out the oversight and investigative duties of the office.
The dialogue included my submission of a letter to the General Counsel on September 11, 2026, responding to the concerns set forth in the August 31st letter and with an accompanying, detailed budget justification. In my letter and the corresponding budget justification submission, I reduced our FY 2027 funding request to $49.9 million, the level of funding OIG had received from FY 2016 to 2022 and a reduction of 3.5% from our FY 2026 funding.5
On September 21, 2026, I engaged in another discussion with the FHFA General Counsel in which he indicated that my September 11th letter and budget justification had not changed FHFA's position on reducing OIG's funding. As a follow up to that discussion, on September 23, 2026, I emailed the General Counsel reiterating that our reduced funding request of $49.9 million was the level of funding I had determined was necessary to support the effective execution of OIG's duties, emphasizing the negative effects that would result from funding of $20 million, and explaining OIG's budget methodology (as outlined above). Shortly thereafter, the General Counsel requested documentation regarding OIG's budget methodology. On September 25, 2026, I provided the requested documentation to the General Counsel via an email in which I also advised him that I had no reason to believe that OMB no longer supported OIG's budget methodology. On the evening September 25th, the General Counsel responded to my email, advising me that FHFA did not consider OIG's budget methodology to be valid or applicable to the FY 2027 budget process.
Effect of Funding Cut on OIG Operations
As of the writing of this letter, FHFA's funding decision is final. On September 29, 2026, OIG received from FHFA a $10 million allocation to fund operations for the first six months of FY 2027. At current expenditure rates, which OIG has not had sufficient time to adjust, OIG will exhaust this funding in approximately three months. We are currently evaluating all means to reduce non-personnel costs, including termination of all non-essential contracts, closing of all field offices, reducing our leased headquarters space (which we occupy pursuant to lease agreement with FHFA), and a ban on travel, including travel to conduct criminal investigations.
These measures are a stopgap, not a solution. We have begun the process of implementing a reduction-in-force, compliant with recently issued Office of Personnel regulations and will very likely implement rolling furloughs as soon as permissible by regulation. As noted, I anticipate we will ultimately be forced to reduce our staffing by approximately 70-80%, retaining only those personnel who are essential to conducting statutorily required audits and investigations, with minimum administrative infrastructure, focused on meeting information security requirements.
Consequently, we will be forced to cease supporting ongoing criminal investigations as soon as feasible after consultation with the Department of Justice and the more than 30 U.S. Attorney's Offices in which we have ongoing investigations, and we will have to cease our efforts to directly support DOJ's National Fraud Enforcement Division. We will not open new criminal matters. Because the financial resources to support a national criminal enforcement program far exceed the level of funding FHFA has allocated, we will terminate that program and reduce our Office of Investigations to the minimum amount of personnel necessary to conduct investigations limited to the conduct of FHFA personnel, which historically have been exclusively administrative in nature, and maintain our statutorily required hotline.
We will also have to eliminate our Office of Evaluations, which has conducted the qualitative reviews that serve as the primary means of providing policy guidance to the Agency. We will reduce our staffing in the Office of Audits to the most sustainable level necessary to conduct statutorily required audits while attempting to maintain discretionary, qualitative audits to assist FHFA in addressing the Management and Performance Challenges we have identified in the upcoming fiscal year.
Conclusion
I deeply regret that our efforts to reach a reasonable outcome with the Agency have not been successful. I am extraordinarily proud of the work our personnel have accomplished and am saddened that the actions I must take will result in the dismissal of many outstanding public servants.
I welcome the opportunity to further discuss these matters with each of you.
Thank you for your time and consideration.
Sincerely,
James Hodge, Acting Principal Deputy Inspector General
Performing the Duties of the Inspector General
FHFA-OIG
* * *
Original text and footnotes here: https://www.banking.senate.gov/imo/media/doc/FHFA-OIG%20Funding%20Notification%20Letter%20to%20Congress%2009.30.26.pdf
News Release here: https://www.banking.senate.gov/newsroom/minority/all-banking-committee-democrats-call-on-bill-pulte-to-reverse-illegal-decision-to-eliminate-fhfa-watchdog
Amtrak Celebrates Completion of Accessibility Improvements at Hamlet and Rocky Mount Stations
WASHINGTON, Oct. 7 -- Amtrak (National Railroad Passenger Corp.) issued the following news:
* * *
Amtrak Celebrates Completion of Accessibility Improvements at Hamlet and Rocky Mount Stations
*
Over $10 million invested in North Carolina station accessibility improvements
HAMLET AND ROCKY MOUNT, N.C., Oct. 7, 2026 - Amtrak joined federal, state and local officials this week to celebrate the completion of accessibility improvement projects at its stations in Hamlet and Rocky Mount, marking more than $10 million in investments to improve accessibility, safety and the customer experience for
... Show Full Article
WASHINGTON, Oct. 7 -- Amtrak (National Railroad Passenger Corp.) issued the following news:
* * *
Amtrak Celebrates Completion of Accessibility Improvements at Hamlet and Rocky Mount Stations
*
Over $10 million invested in North Carolina station accessibility improvements
HAMLET AND ROCKY MOUNT, N.C., Oct. 7, 2026 - Amtrak joined federal, state and local officials this week to celebrate the completion of accessibility improvement projects at its stations in Hamlet and Rocky Mount, marking more than $10 million in investments to improve accessibility, safety and the customer experience forrail travelers in North Carolina.
"These investments demonstrate Amtrak's commitment to providing safe, accessible and convenient rail travel for all customers," said Amtrak Vice President of Accessibility, Stations & Facilities Dr. David Handera. "Stations like Hamlet and Rocky Mount are important community assets, and these enhancements will help ensure they continue serving residents and visitors for many years to come."
At Hamlet Station, Amtrak completed approximately $3.2 million in improvements, including construction of two 200-foot accessible boarding platforms, accessible pathways and walkways, safety barriers, LED platform lighting, detectable warning systems, and new signage.
At Rocky Mount Station, Amtrak completed approximately $7.3 million in improvements, including construction of an 840-foot accessible boarding platform, accessible pathways connecting the station, public right-of-way and parking areas, LED platform lighting, detectable warning systems, and new signage.
Together, these projects improve accessibility for customers of all abilities and support better travel experiences. The improvements were made possible through strong collaboration among Amtrak, the North Carolina Department of Transportation, the Federal Railroad Administration, local officials, and community partners.
These efforts support Amtrak's broader efforts to modernize stations and create a more seamless travel experience for customers nationwide. Amtrak continues to advance station accessibility projects across the country as part of its long-term commitment to achieving a fully accessible national passenger rail network.
REACTIONS
Jason Orthner, NCDOT Rail Division Director
"Continued investments in stations like Hamlet and Rocky Mount make it safer and easier for passengers of all abilities to access rail service and continue their journeys These improvements strengthen the passenger experience today while supporting the continued growth and future of intercity passenger rail across North Carolina."
Hamlet Mayor, Amy Guinn
"Amtrak's recent substantial investment in our historic train depot demonstrates their continued commitment to rural communities. Enabling passengers of all abilities to access travel enhances the experience and ensures everyone can enjoy the freedom of travel by rail. The City of Hamlet greatly appreciates the collaboration of all the departments working together to accomplish these improvements."
Rocky Mount Mayor, Sandy Roberson
"As much as any place in North Carolina, Rocky Mount is a railroad town. We are grateful to Amtrak in partnership with the NC Department of Transportation and the Federal Railroad Administration for the improvements that will make our historic train station more accessible, more welcoming, and more convenient for everyone who uses it."
***
Original text here: https://media.amtrak.com/2026/10/amtrak-celebrates-completion-of-accessibility-improvements-at-hamlet-and-rocky-mount-stations/
