CDFI Fund: Application Demand for FY 2022 Round of CDFI Program and NACA Program Released
The fiscal year (FY) 2022 application round for the Community Development Financial Institutions Fund’s (CDFI Fund) Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) closed on April 12, 2022. In total, 719 organizations from across the country requested a combined level of $577.9 million in awards, which is…
HUD: Disaster Assistance Announced for Kansas Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of Kansas affected by severe winter storms and straight-line winds from March 17 to March 22, 2022. On May 25, President Biden issued a major disaster declaration for the counties of…
HUD: $147 Million Awarded to Tribal Communities for Affordable Housing and Community Development
The U.S. Department of Housing and Urban Development (HUD) on Thursday announced 83 awards totaling $147 million for affordable housing and community development projects that primarily benefit people with low and moderate incomes in American Indian and Alaska Native communities. “Every person deserves a fair shot to get ahead-one that includes access to safe, affordable…
FHFA: Final Rule Announced Introducing New Public Disclosure Requirements to the Enterprise Regulatory Capital Framework
The Federal Housing Finance Agency (FHFA) today published a final rule that amends the Enterprise Regulatory Capital Framework (ERCF) by introducing new public disclosure requirements for Fannie Mae and Freddie Mac (the Enterprises). The requirements include quarterly quantitative and annual qualitative disclosures related to risk management, corporate governance, capital structure, and capital requirements and buffers…
EDA: National Advisory Council on Innovation and Entrepreneurship Reestablished
32 Leaders in Technology, Innovation, Workforce Development, and Academia Appointed to Council Today, U.S. Secretary of Commerce Gina M. Raimondo announced the appointment of 32 leaders and experts to the National Advisory Council on Innovation & Entrepreneurship (NACIE). NACIE will be charged with developing a National Entrepreneurship Strategy that strengthens America’s ability to compete and win as…
CFPB: Agency Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
Companies relying on complex algorithms must provide specific and accurate explanations for denying applications Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models…
FEMA: President Biden Approves Major Disaster Declaration for Kansas
FEMA announced that federal disaster assistance has been made available to the state of Kansas to supplement state, tribal and local recovery efforts in the areas affected by severe winter storms and straight-line winds from March 17-22, 2022. Federal funding is available to the state, eligible local and tribal governments and certain private nonprofit organizations…
OCC: Third and Fourth Quarter 2022 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 2022. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
HUD and Census Bureau: New Residential Sales Report for April 2022 Issued
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 April 2022: New Home Sales Sales of new single‐family houses in April 2022 were at a seasonally adjusted annual rate of 591,000, according to estimates released jointly today by the U.S. Census…
EDA: $1.9 Million Invested to Support Business Expansion in Ben Hill County, GA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.9 million grant to Ben Hill County, Georgia, for road construction and drainage improvements. This project will support the expansion of a local plastic resin manufacturer and help attract new businesses, supporting job creation and private…