SBA: New Actions and Resources Announced to Advance Clean Energy Economy
SBA Removes Cap on Loans for Clean Energy Projects Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced that the agency has removed its 504 Loan Program’s cap on lending for clean energy projects as part of broader…
EDA: $2.6 Invested for Water Infrastructure Improvements to Support Healthcare and Workforce Development in Terrebonne Parish, LA
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.6 million grant to Terrebonne Parish Consolidated Government in Houma, Louisiana, for water infrastructure improvements to support healthcare and workforce development in the region. This grant will design and construct a new water line to service the new…
EDA: $2.3 Million Invested for Roadway Infrastructure Improvements to Support Economic Growth in Ruidoso, NM
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.3 million grant to the Village of Ruidoso, New Mexico, for roadway infrastructure improvements needed to support business and economic growth. This grant will design the restructure of the U.S. Highway 70 and NM Highway 48 intersection to…
EDA: $637,147 Invested to Support Disaster Resiliency and Economic Growth in San Jose, CA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $637,147 grant to San Jose State University Research Foundation in San Jose, California, to strengthen the Moss Landing Marine Laboratory site against sea level rise and natural disasters, and to spearhead development of a working waterfront to serve as a commercial asset…
OCC: Third and Fourth Quarter 2024 CRA Evaluation Schedule Issued
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 and fourth quarters of 2024. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the…
CFPB: Inquiry Launched into Junk Fees in Mortgage Closing Costs
Rising fees are draining down payments, pushing homeownership out of reach The Consumer Financial Protection Bureau (CFPB) today launched a public inquiry into junk fees that are increasing mortgage closing costs. The CFPB wants to understand why closing costs are increasing, who is benefiting, and how costs for borrowers and lenders could be lowered. According to a CFPB…
CDFI Fund: Application Demand for FY 2024 Round of the Capital Magnet Fund Released
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the application data for the fiscal year (FY) 2024 round of its Capital Magnet Fund (CMF) program. This is the ninth round of funding for the CMF program. A total of 136 organizations submitted applications requesting more than $1.06 billion…
HUD: $150 Million Made Available for Affordable Housing in Tribal Communities
Funding focuses on the construction of new homes, housing rehabilitation, and support for low-income families across Indian Country. Today, the U.S. Department of Housing and Urban Development (HUD) announced the availability of $150 million in funding. This funding is designated for affordable housing projects benefiting low-income families in American Indian and Alaska Native communities through…
FHFA: Enhancements Announced to Flex Modification for Borrowers Facing Financial Hardship
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will enhance their Flex Modification policies to allow more borrowers facing longer-term hardships to achieve meaningful payment reductions. The updated Flex Modification policies will promote sustainable homeownership and the safety and soundness of the Enterprises. “The Enterprises have completed over half a million modifications through their Flex Modification offerings since…
OCC: Project REACh 2.0 Launched
The Office of the Comptroller of the Currency (OCC) today announced the launch of REACh 2.0 at its Project REACh Financial Inclusion Summit. Project REACh, the Roundtable for Economic Access and Change, brings together leaders from the banking industry, national civil rights organizations, business, and technology to identify and reduce barriers that prevent full, equal,…