FDIC: Supervisory Guidance Issued on Multiple Re-Presentment NSF Fees
Summary: The FDIC is issuing guidance to FDIC-supervised institutions to address certain consumer compliance risks associated with assessing multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. Additionally, the FDIC is sharing its supervisory approach when a violation of law is identified, as well as expectations for full corrective action. …
ABA: Report Shows Credit Card Market Continued to Normalize in First Quarter 2022
Consumers continued to manage their credit well in the first quarter of 2022, a sign of continued U.S. consumer strength during that period, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor released today. The report also found that credit card credit outstanding as a share of disposable income remained well below…
Census Bureau: Household Pulse Survey Phase 3.5 Monthly Data Released
The U.S. Census Bureau today released new data from phase 3.5 of the experimental Household Pulse Survey (HPS). Phase 3.5 includes new questions on timing of positive coronavirus test, use of coronavirus treatments, the experience of long-COVID symptoms, amount of monthly rent and changes in monthly rent, children’s mental health and difficulty with self-care and communicating. Questions…
Census Bureau: Public Invited to Provide Input on Designing the 2030 Census
Feedback Is Critical for Informing Plans for the Next Decennial Headcount The U.S. Census Bureau has formally invited the public to share their input and ideas for an improved 2030 Census. The invitation comes in the form of a Federal Register Notice published today. The notice marks the start of a 90-day response window. The…
FHFA: Updated Minimum Financial Eligibility Requirements for Enterprise Seller/Services and Ginnie Mae Issuers Announced
Today, the Federal Housing Finance Agency (FHFA) and Government National Mortgage Association (Ginnie Mae) issued a joint announcement of their updated minimum financial eligibility requirements for seller/servicers and issuers. Prompted by the changing nature of the U.S. housing finance system, these enhanced eligibility requirements reflect Ginnie Mae’s and FHFA’s shared goals to promote confidence in…
CDFI Fund: CDFI Equitable Recovery Program Supplemental FAQs Webinar Scheduled for August 25th
The CDFI Fund will be conducting a live CDFI ERP Supplemental FAQs webinar to inform Applicants about the FY 2022 CDFI Equitable Recovery Program (CDFI ERP) Application. This webinar will be held to discuss updates to the Application FAQs, available new materials, and to take any additional questions. The CDFI ERP Supplemental FAQ’s are available now on…
EDA: $3.5 Million Invested for Wastewater System Upgrades to Support Diversified Business Growth in Londonderry Township, PA
oday, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $3.5 million grant to the Derry Township Municipal Authority, Hershey, Pennsylvania, to boost business and job growth in the region by upgrading the Southwest Wastewater Treatment Plant in Londonderry Township. This project will help attract new businesses to…
EDA: $1.8 Million Invested to Help Establish New STEM Education Training Facility in Woodbine, IA
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to IGNITE Pathways, Woodbine, Iowa, to provide equipment for a state-of-the-art STEM career and technical educational training facility. This EDA project supports the launch of IGNITE Pathways Technical School, which will serve as a…
EDA: Over $54 Million in American Rescue Plan Funds Invested Last Week
Last week, the following grants were made under the American Rescue Plan Funds program: August 16, 2022 – U.S. Department of Commerce Invests $6.4 Million in American Rescue Plan Funds to Develop a New Business Facility in Duffield, Virginia August 16, 2022 – U.S. Department of Commerce Invests $4.5 Million in American Rescue Plan Funds for Wastewater…
HUD: $34 Million Loan Guarantee Awarded to Cincinnati, OH for Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) today announced a $34 million loan guarantee for Cincinnati, Ohio for the Affordable Housing Loan Fund Project to spur the creation of more affordable housing. This upfront source of financing, awarded through HUD’s Section 108 Loan Guarantee Program (Section 108) program, is the lynchpin of the…