CFPB: Violations of Federal Law by Student Loan Services and University-Owned Lenders Found
Blanket withholding of academic transcripts to pressure borrowers to pay cited as unlawful Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of Supervisory Highlights on recent examination findings covering the practices of student loan servicers, and schools that lend to students directly. The exams found that these schools had improper blanket policies of withholding…
HUD: Disaster Assistance Announced for Puerto Rico
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance, including a new package of waivers offering regulatory and administrative relief, to supplement Commonwealth and local recovery efforts in areas of Puerto Rico affected by Hurricane Fiona beginning on September 17, 2022, and continuing. As Puerto Rico endures…
HUD and Census Bureau: New Residential Sales Report for August 2022 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for August 2022: New Home Sales Sales of new single‐family houses in August 2022 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly by the U.S. Census Bureau…
HUD: Over $125 Million Awarded to Protect Families from Lead and Other Home Health and Safety Hazards
Funding to make low-income families’ homes safer and healthier The U.S. Department of Housing and Urban Development (HUD) today awarded over $125 million to 26 state and local government agencies to protect children and families from lead-based paint hazards and additional home health hazards. HUD is providing these grants through its Lead Hazard Reduction Grant…
FHFA: New Rule Proposed to Help Enterprises Better Serve Colonias
Amendments will remove barriers to Enterprise Duty to Serve activities in high-needs rural regions The Federal Housing Finance Agency (FHFA) today proposed to amend the Agency’s Duty to Serve (DTS) Underserved Markets regulation to facilitate Fannie Mae and Freddie Mac’s (the Enterprises) activities related to serving colonias. “FHFA is committed to promoting affordability, equity, and…
ABA: ABA Sues CFPB for Abuse of Statutory Authority
The American Bankers Association today joined the U.S. Chamber of Commerce, Longview Chamber of Commerce, Texas Bankers Association, Independent Bankers Association of Texas, Texas Association of Business and the Consumer Bankers Association in filing a lawsuit against the Consumer Financial Protection Bureau and Rohit Chopra in his official capacity as director of the CFPB. The litigation challenges…
EDA: $53 Million in American Rescue Plan Funds and CARES Act Recovery Assistance Invested Last Week
Last week, the following grants were made under the American Rescue Plan Funds and CARES Act Recovery Assistance programs: September 28, 2022 – U.S. Department of Commerce Invests $1.2 Million in American Rescue Plan Funds to Boost Tourism by Making Recreational Infrastructure Improvements in Portland, Oregon September 27, 2022 – U.S. Department of Commerce Invests $5 Million…
EDA: $915,900 Invested to Support Food Business Growth in Farmington, NM
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $915,900 grant to San Juan College, Farmington, New Mexico, to renovate and repurpose a city building to support the Harvest Food Hub and Kitchen. This grant will provide commercial kitchen space, training, and technical assistance for food entrepreneurs and businesses, supporting economic…
EDA: $1.1 Million Invested for Infrastructure Improvements to Establish an Industrial Park and Support Business Development in Watertown, SD
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the city of Watertown, South Dakota, for construction, water, and roadway infrastructure improvements to establish a new industrial park. This infrastructure and industrial park will create new opportunities for businesses to establish and…
EDA: $1.5 Million Invested for Water Infrastructure Improvements to Support Bioprocessing Business Growth in Blair, NE
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Blair, Nebraska, for waterline expansion to support bioprocessing business growth. This grant will provide increased water capacity to the city’s biocampus, allowing for businesses to expand operations, create additional jobs, and…