EDA: $3 Million Invested in CARES Act Recovery Assistance to Aid Reopening of Tourism Economy in South Carolina
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to the South Carolina Department of Parks, Recreation and Tourism, Columbia, South Carolina, to support the implementation of the state’s Tourism Recovery Marketing Plan to assist its tourism industry’s economic…
OCC: Report Shows Decline in Mortgage Performance in Third Quarter 2020
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the third quarter of 2020. The OCC Mortgage Metrics Report, Third Quarter 2020 showed that 92.5 percent of mortgages included in the report were current and performing at the end of the quarter, compared…
Census Bureau: 2020 Demographic Analysis Estimates Released
Figures Estimate the Size of the Nation’s Population Independent of the 2020 Census The U.S. Census Bureau today released its 2020 Demographic Analysis, which provides a range of estimates — low, middle and high — for the nation’s population as of April 1, 2020. Instead of collecting responses from households like the 2020 Census, Demographic Analysis…
HUD: Grant to the Global Forum for Freedom and Justice Announced
U.S. Housing and Urban Development Secretary Ben Carson announced a $2.9 million dollar grant to the Global Forum for Freedom and Justice to conduct a feasibility study to determine the best location in Birmingham, Alabama to construct the “international gathering place focused on leadership, education, innovation and understanding, placed upon the sacred soil that gave…
FHFA: Report on Non-Performing Loan Sales Released
The Federal Housing Finance Agency (FHFA) today released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes sales information about NPLs sold through June 30, 2020 and reflects borrower outcomes on NPLs sold through December 31, 2019 and reported through…
FDIC: Final Rule on Brokered Deposits and Interest Rate Restrictions Approved
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to establish a new framework for analyzing whether deposits made through deposit arrangements qualify as brokered deposits, including those between insured depository institutions (IDIs) and third parties, such as financial technology companies. The final rule also amends the methodology for calculating…
EDA: $2.9 Million Invested to Support Establishment of the Global Forum for Freedom and Justice in Birmingham, AL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.9 million grant to the Global Forum for Freedom and Justice, Washington, D.C., to develop a feasibility study to determine where to establish the Global Forum for Freedom and Justice in Birmingham, Alabama. “The United States was…
CFPB: Report Released on Implementing the Dodd-Frank Act’s Small Business Lending Data Collection Requirement
The Consumer Financial Protection Bureau (Bureau) released a panel report today as part of its rulemaking process under Dodd-Frank Act Section 1071 governing the collection and reporting of small business lending data. A panel was convened pursuant to the Small Business Regulatory Enforcement Fairness Act, comprised of representatives of the Bureau, the Office of Advocacy…
FEMA: President Trump Approves Major Disaster Declaration for New Jersey
FEMA announced that federal disaster assistance has been made available to the state of New Jersey to supplement state and local recovery efforts in the areas affected by Tropical Storm Isaias on Aug. 4. The President’s action makes federal funding available to the state and local governments and certain private nonprofit organizations on a cost-sharing…
FFIEC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…