CDFI Fund: Public Comments Requested on Changes to the New Markets Tax Credit Program Transaction Level Report
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is soliciting public comment on changes to the New Markets Tax Credit Program (NMTC Program) Transaction Level Report (TLR). Through this request for comment, the CDFI Fund seeks to address the remaining open Planned Corrective Actions recommended by the Government Accountability Office…
ABA: Association Offers Congressional Testimony on Strength of Banking Industry
FirstBank CEO Jim Reuter appears on behalf of ABA members before House Financial Services Subcommittee on Financial Institutions and Monetary Policy The American Bankers Association today provided testimony to the House Financial Services Subcommittee on Financial Institutions and Monetary Policy on the banking industry’s public policy priorities, new initiatives to foster innovation and competition in financial services,…
CFPB: New Guidance Issued to Protect Mortgage Borrowers from Pay-to-Play Digital Comparison-Shopping Platforms
Financial arrangements that influence or manipulate search results are illegal Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to protect Americans from double dealing on digital mortgage comparison-shopping platforms. Companies operating these digital platforms appear to shoppers as if they provide objective lender comparisons, but may illegally refer people to only those…
CDFI Fund: Virtual Public Meeting of CDFI Fund’s Advisory Board Scheduled for February 28th
The Community Development Financial Institutions Fund (CDFI Fund) is convening a meeting of the Community Development Advisory Board (the Advisory Board) from 2:00 to 4:00 p.m. Eastern Time on Tuesday, February 28, 2023. This meeting will be conducted virtually. The function of the Advisory Board is to advise the Director of the CDFI Fund on the policies…
FEMA: President Biden Approves Major Disaster Declaration for North Dakota
Today, FEMA announced federal emergency aid has been made available to the state of North Dakota to supplement state, tribal and local recovery efforts in areas affected by a severe winter storm, snowstorm and straight-line winds from Nov. 9-11, 2022. The President’s action makes federal funding available to state, tribal and eligible local governments and certain private nonprofit organizations…
FEMA: Mobile and Morgan Counties Added to Alabama Major Disaster Declaration
Mobile and Morgan counties are now eligible for FEMA assistance after the Jan. 12 severe storms, straight-line winds, and tornadoes in Alabama. Individuals and households in Mobile and Morgan counties can apply for FEMA Individual Assistance, which may include temporary housing assistance, basic home repairs and certain other uninsured disaster-related needs. These counties join Autauga, Coosa, Dallas, Elmore, Greene,…
FDIC: Update on Supervisory Approach Regarding Changes to HMDA’s Closed-End Mortgage Loan Volume Reporting Threshold
The Federal Deposit Insurance Corporation (FDIC) is issuing this Financial Institution Letter to inform supervised institutions of recent changes regarding the Home Mortgage Disclosure Act (HMDA) reporting threshold for closed-end mortgage loans and the FDIC’s supervisory approach for enforcing related requirements. For FDIC-supervised institutions that meet Regulation C’s coverage requirements, the threshold for reporting data…
FEMA: Alameda, Contra Costa, Mendocino and Ventura Counties Added to California Major Disaster Declaration
Alameda, Contra Costa, Mendocino and Ventura counties have been added to the major disaster declaration for California’s severe storms and flooding, meaning residents who had damage or losses from the storms that began Dec. 27, 2022, may now apply for FEMA disaster assistance. The declaration allows FEMA to provide direct support to individuals and households in…
HUD: Nearly $315 Million Awarded in Historic Grants to Address Unsheltered and Rural Homelessness
The first of its kind package of grants and vouchers follows progress of 100,000 people and families housed and 40,000 housing units added to development pipeline by House America communities oday, the U.S. Department of Housing and Urban Development (HUD) is announcing the first set of communities to receive grants and vouchers to address homelessness…