OCC: Research Solicited on Implications of Financial Technology for Banking
The Office of the Comptroller of the Currency (OCC) is soliciting academic-and policy-focused research on the impact of financial technology (fintech) entities and nonbanks on banking and the markets for lending, deposit-taking, and payment services through August 21, 2022. The OCC will invite authors of selected papers to present to OCC staff and invited guests…
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…
SBA: Funding Opportunity to Provide Entrepreneurship Training to Service-Disabled Veterans Announced
Today, the U.S. Small Business Administration announced a new funding opportunity for eligible non-profit organizations, state and local government agencies, private sector firms, and institutions of higher learning to provide entrepreneurship training to service-disabled veterans. The awarded organization(s) can use the funding to market, deliver, and scale existing service-disabled veteran entrepreneurs’ training programs for veterans, service-disabled veterans,…
CDFI Fund: Update on New CDFI Certification Application Process and Six-Month Blackout Period
CDFI Fund will pause acceptance of new CDFI Certification Applications and Target Market Modifications for six months to prepare for launch of the revised CDFI Certification Application and reporting requirements In May 2020, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) requested public comment on the application and reporting requirements for…
EDA: Nearly $70 Million in American Rescue Plan Funds Invested Last Week
Last week, the following grants were made under the American Rescue Plan Funds program and the CARES Act Recovery Assistance program: July 20, 2022 – U.S. Department of Commerce Invests $3.7 Million in American Rescue Plan Funds to Support Business Development in Vicksburg, Michigan July 20, 2022 – U.S. Department of Commerce Invests $1.8 Million in American…
Census Bureau: Schedule Released for Income, Poverty and Health Insurance Statistics and ACS Estimates for 2021
The U.S. Census Bureau’s schedule for the release of the 2021 Income, Poverty and Health Insurance statistics from the Current Population SurveyAnnual Social and Economic Supplement (CPS ASEC) and the American Community Survey (ACS) is as follows: Tuesday, Sept. 13, 2022 (no embargo): CPS ASEC will be released for calendar year 2021. National 2021 income statistics: Annual release of…
HUD: Updates Proposed to Manufactured Home Construction and Safety Standards
Proposed updates will expand the use of manufactured homes to address affordable housing supply and bring the “HUD Code” up to industry standards. The Department of Housing and Urban Development announced today its proposals for updating the Manufactured Home Construction and Safety Standards, commonly referred to as the “HUD Code.” The proposed updates were published…
OCC: Nominations Sought for Minority Depository Institutions Advisory Committee
The Office of the Comptroller of the Currency (OCC) is seeking nominations for members of its Minority Depository Institutions Advisory Committee (MDIAC). The MDIAC assists the OCC in assessing the needs and challenges facing minority depository institutions. The OCC is seeking nominations of individuals who are officers and/or directors of OCC-regulated minority depository institutions, or…
Federal Reserve: “Does Giving CRA Credit for Loan Purchases Increase Mortgage Credit in Low-to-Moderate Income Communities?” FEDS Notes Discussion
Finance and Economics Discussion Series (FEDS) Author: Kenneth P. Brevoort Abstract: Under the Community Reinvestment Act (CRA) banks can fulfill their affirmative obligation to meet local credit needs by lending in low-to-moderate-income (LMI) communities or by purchasing loans made by others. This paper evaluates whether giving CRA credit for purchases has had its intended effect…
Federal Reserve: “Strengthening the CRA: A Conversation with Representatives of Native Communities”
Speech delivered at National Native Coalition Virtual Series on the Community Reinvestment Act Notice of Proposed Rulemaking (via webcast) by Vice Chair Lael Brainard Good afternoon.1 I am happy to join you today for the National Native Coalition listening session to discuss the Community Reinvestment Act (CRA). I want to thank the National Congress of American…