ABA: ABA Sues CFPB Over New Regulation Restricting Credit Card Late Fees
The American Bankers Association today joined the U.S. Chamber of Commerce, Fort Worth Chamber of Commerce, Longview Chamber of Commerce, Consumer Bankers Association, and Texas Association of Business in filing a lawsuit in the U.S. District Court for the Northern District of Texas against the Consumer Financial Protection Bureau (CFPB) that challenges the CFPB’s new rule limiting…
HUD: $10 Million Made Available to Support New Homebuyers and Bridge Wealth Gap
First of its kind Notice of Funding Opportunity will support housing counseling services for prospective homebuyers in underserved communities. The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling has announced that $10 million in grant funding is available to eligible HUD-approved housing counseling agencies. These agencies will use the funding to prepare and…
EDA: $2.7 Million Invested for Roadway and Wastewater Improvements to Support Business Growth in Floyd, VA
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.7 million grant to the Economic Development Authority of Floyd County, Virginia, for roadway and wastewater infrastructure improvements to support business growth. This grant will provide the infrastructure needed to support Phase 2 development of the Floyd Regional…
EDA: $2 Million Invested to Support Business Development and Job Growth in Newport, AR
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Newport, Arkansas, to support business growth and job creation in the region. This grant will support a building renovation project to create 14,500 square feet of new office space. This EDA…
CFPB: New Final Rule Bans Excessive Credit Card Late Fees, Lowers Typical Fee from $32 to $8
Final rule closes 2010 loophole exploited by credit card giants The Consumer Financial Protection Bureau (CFPB) finalized a rule today to cut excessive credit card late fees by closing a loophole exploited by large card issuers. The rule will curb fees that cost American families more than $14 billion a year. The CFPB estimates that…
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 Dec. 18-19, 2023. Public assistance federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing…
SBA: Enhanced Lender Match Platform Launched
Stakeholders Applaud Improved Online Tool That Will Simplify Access to Capital for Small Businesses Today, Administrator Isabel Casillas Guzman announced the next generation of the SBA’s Lender Match tool for small businesses to connect to capital through SBA’s network of approved banks and private lenders. The enhanced Lender Match will provide Americans seeking funding to start and grow their businesses…
FDIC: CRA Examination Schedule Issued for Second and Third Quarters 2024
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter 2024 and third quarter 2024. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter….