Author: findCRA

OCC: CRA Evaluations Released for 39 National Banks and Federal Savings Associations

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of November 1, 2020 through November 30, 2020. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The…

HUD: $54.7 Million in Grants Awarded to Expand Development of New Rental Housing for Extremely Low-Income Persons with Disabilities

The U.S. Department of Housing and Urban Development today announced the award of over $54.7 million in capital advance and project rental assistance grants to 15 organizations, to expand the supply of affordable rental housing for extremely low-income persons with disabilities. The capital advance awards will support integrated affordable housing by providing funding for the…

SBA: Small Business Size Standard Revisions in Five Industrial Sectors Proposed

Change Aimed at Increasing Eligibility for Contracting and Loan Programs. Public Comments Due by Jan. 26, 2021 The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting…

FDIC: CRA Examination Schedule Issued for First and Second Quarter 2021

The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first quarter 2021 and second quarter 2021. 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. …

Federal Reserve: Board Announces Extension Through March 31, 2021 for Several of Its Lending Facilities

Facilities were generally scheduled to expire on or around December 31 The Federal Reserve Board on Monday announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31. By backstopping critical short-term funding markets, these facilities are supporting market functioning and enhancing…

OCC: CRA Evaluation Schedule Issued for First and Second Quarters 2021

The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first quarter and second quarter 2021. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA. Public comments should be submitted…

CFPB: No Action Letter Issued to Upstart Network, Inc. to Facilitate the Use of Artificial Intelligence in Loan Pricing and Underwriting

The Consumer Financial Protection Bureau (Bureau) granted a no-action letter (NAL) to Upstart Network, Inc. (Upstart), regarding its automated model for underwriting and pricing applicants for unsecured, closed-end loans. Issued under the updated NAL Policy from last year, NALs provide increased regulatory certainty that the Bureau will not bring a supervisory or enforcement action against…

FEMA: Additional Help Approved for Nine California Counties Due to Wildfires

Additional help has been approved for nine California counties ravaged by the September/October wildfires. The following assistance, approved Nov. 25, is added to the Oct. 16 presidential disaster declaration for the wildfire period Sept. 4 through Nov. 17, 2020: Del Norte County for Public Assistance, including direct federal assistance. Fresno, Madera, Mendocino, Napa, Shasta, Siskiyou,…

Census Bureau: Small Business Pulse Survey Phase 3 Weekly Data Released

The U.S. Census Bureau today released new data from the third phase of the Small Business Pulse Survey. Data collection began November 9, 2020. Results will be released weekly starting November 19, 2020, through January 14, 2021. No changes were made to the questionnaire for this phase. Data are available through the Small Business Pulse Survey Interactive…

EDA: $13.3 Million Invested to Improve Transportation Infrastructure in Chico, CA

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $13.3 million grant to the city of Chico, California, to make roadway improvements needed to increase access to an airport and three major job centers. The EDA grant is expected to create 620 jobs, retain 200 jobs,…