HUD: Disaster Assistance Announced for Vermont Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of Vermont affected by a severe storm and flooding from July 29 to July 30, 2021. On September 29, President Biden issued a major disaster declaration for the counties of Bennington and Windham. The President’s…
EDA: 50 Recipients of “Build to Scale” Program Announced
Grantee Projects Fuel Innovation and Tech-Based Economic Development to Enhance American Competitiveness on the Global Stage Today, U.S. Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo announced that 50 organizations — including nonprofits, institutions of higher education, state government agencies, and other entrepreneurship-focused organizations — from 26 states will receive grants totaling $36.5…
CDFI Fund: Treasury Guarantees $100 Million in CDFI Bond Funding
Treasury Guarantees $100 Million in CDFI Bond Funding The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the approval of a $100 million guarantee under the fiscal year 2021 round of the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued to Bank of America…
FEMA: President Biden Approves Major Disaster Declaration for Vermont
FEMA announced that federal disaster assistance has been made available to the state of Vermont to supplement state and local recovery efforts in the areas affected by a severe storm and flooding from July 29-30, 2021. Federal funding is available to the state, eligible local governments and certain private nonprofit organizations on a cost-sharing basis…
CFPB: Report Finds Declines in Credit Card Debt, New Applications and Increase in Digitial Engagement in 2020
The Consumer Financial Protection Bureau released its fifth biennial report to Congress today on the consumer credit card market, finding that the market’s growth over the last few years reversed course in 2020. In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability. From…
ABA: Association Testifies on the Future of Banking
FirstBank CEO Jim Reuter offers industry perspective to House Financial Services Subcommittee The American Bankers Association testified today before the House Financial Services subcommittee on Consumer Protection and Financial Institutions, offering the industry’s perspective on the future of banking and how consolidation, nonbank competition and technology are re-shaping the industry. Jim Reuter, president and CEO of Denver-based…
FEMA: Disaster Assistance Approved for McKenzie County, ND
FEMA has approved disaster assistance for McKenzie County. The county was added to the disaster declaration approved by President Biden on Sept. 1 making aid available to eight counties for severe storms and flooding occurring from June 7-11, 2021. FEMA’s Public Assistance program provides aid to state, tribal and local governments as well as certain…
Census Bureau: New Community Resilience Data Equity Estimates Released
The U.S. Census Bureau today released the CRE for Equity data tool. In an easy-to-use dashboard, this new tool pulls together existing data to measure social vulnerability and equity gaps at the community level while providing context about the varying needs of different communities. To measure these concepts, in the summer of 2020, the Census Bureau launched…
FHFA: House Price Index Up 1.4 Percent in July 2021; Up 19.2 Percent from Last Year
House prices rose nationwide in July, up 1.4 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 19.2 percent from July 2020 to July 2021. The previously reported 1.6 percent price change for June 2021 was revised upward to 1.7 percent. For the nine census divisions, seasonally adjusted…
OCC: Report Shows Improvement in Mortgage Performance in Second Quarter 2021
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the second quarter of 2021. The OCC Mortgage Metrics Report, Second Quarter 2021 showed that 95.0 percent of mortgages included in the report were current and performing at the end of the second quarter…