Federal Reserve: New Members of Community Advisory Council Announced
The Federal Reserve Board on Thursday announced five new members of its Community Advisory Council (CAC). The CAC is composed of a diverse group of experts and representatives of consumer, workforce, and community development organizations and interests, including from such fields as affordable housing, economic development, labor, small business, and asset and wealth building. CAC…
Federal Reserve: Members of Community Depository Institutions Advisory Council for 2021 Announced
The Federal Reserve Board on Thursday, December 17 announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2021. CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions,…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strenghening CRA Regulations
At the Consumer Bankers Association Community Reinvestment Act Committee Meeting Good afternoon and thank you for inviting me to take part in the Consumer Bankers Association’s (CBA’s) Community Reinvestment Act (CRA) Committee meeting. The CRA officers and teams at your institutions play an important role in identifying community priorities and building partnerships with stakeholders to…
EDA: $8 Million Invested in CARES Act Recovery Assistance to Establish Revolving Loan Fund in Colorado
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding an $8 million CARES Act Recovery Assistance grant to Colorado Lending Source, LTD, Denver, Colorado, to establish a Revolving Loan Fund (RLF) that will provide critical loans to small businesses and entrepreneurs adversely affected by the coronavirus pandemic…
EDA: $500,000 Invested in CARES Act Recovery Assistance to Support Small Businesses Statewide in Louisiana
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to the Good Work Network, New Orleans, Louisiana, to create a statewide virtual business training center that will provide resources for small- and minority-owned businesses. The project, to be matched with $135,000 in local funds, is expected to create 80…
CDFI Fund: Revised ACR Guidance Information Now Available
The Community Development Financial Institutions Fund (CDFI Fund) has released updated information for Certified Community Development Financial Institutions (CDFIs) regarding the Annual Certification and Data Collection Report (ACR). The ACR, which must be completed by all Certified CDFIs on annual basis, allows the CDFI Fund to assess CDFIs’ compliance with Certification guidelines and collect data…
HUD: FHA Achieves Full FHA Catalyst Digitial Claim Submission Capabilities for Single Family Forward Mortgages
Latest FHA Catalyst: Claims Module expansion eliminates paper submission processes for all forward mortgage claim types Today, the Federal Housing Administration (FHA) implemented additional functionality in its FHA Catalyst: Claims Module, achieving full, digital submission capabilities for all FHA Single Family Title II forward mortgage claim types and the elimination of manual, labor intensive paper-based…
Census Bureau: More Resources Released on COVID-19 Interactive Data
The U.S. Census Bureau has released an updated version of the interactive data hub on its COVID-19 resource page. The resource page is designed to help federal agencies, businesses and communities make decisions related to the COVID-19 pandemic. Version 2.0 of the interactive data hub includes new Census Bureau data, Community Resilience Estimates, and phase 3 results from the Small…
Census Bureau: Household Pulse Survey Phase 3 Biweekly Data Released
The U.S. Census Bureau today released new data from the third phase of the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the…
HUD: Nearly $5 Million Awarded for Revitalization Plans in Eleven Neighborhoods
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today awarded nearly $5 million to eleven communities to help create plans to redevelop severely distressed HUD assisted housing and revitalize neighborhoods. Funded through HUD’s Choice Neighborhoods program, these grants will help local leaders craft comprehensive, homegrown plans to revitalize and transform these neighborhoods. “Today’s…