OCC: Third and Fourth Quarter 2020 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third quarter and fourth quarter 2020. 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: New Study Highlights Challenges Retirees Face to Meet Expenses in Early Years of Retirement
The Consumer Financial Protection Bureau (Bureau) today released a first of its kind study examining the financial resources and expenses of retirees during the first five years of retirement among Americans who retired between 1992 and 2014. Given that a growing number of retirees are not experiencing the expected gradual reduction in spending after they…
CDFI Fund: New Native CDFI Resource Bank Now Available
A new Resource Bank for the CDFI Fund’s “Building Native CDFIs’ Sustainability and Impact II (BNCSI II)” Capacity Building Initiative training is now available on the CDFI Fund’s website. For more than ten years, the CDFI Fund has used targeted training and technical assistance to build the capacity of the Native CDFI industry. To meet the…
Census Bureau: 2018 Rental Housing Finance Survey Summary Tables Now Available
New summary tables from the 2018 Rental Housing Finance Survey (RHFS) are now available in the RHFS table creator. The RHFS provides measures of financial, mortgage and property characteristics of residential properties with at least one housing unit for rent in the United States. It is the only data source that provides a comprehensive picture of…
FHFA: U.S. House Prices Rise 1.7 Percent in First Quarter 2020; Up 5.7 Percent from Last Year
U.S. house prices rose in the first quarter of 2020, up 1.7 percent according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 5.7 percent from the first quarter of 2019 to the first quarter of 2020. FHFA’s seasonally adjusted monthly index for March was up 0.1 percent from February. “Home price growth in the first…
EDA: $2 Million Invested to Protect Businesses from Flooding in Wells, NV
oday, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Wells, Nevada, to make critical water infrastructure improvements needed to maintain commercial and industrial operations during significant flood events. The EDA grant, to be matched with more than $270,000 in…
EDA: $1 Million Invested to Establish Revolving Loan Fund for Businesses in Opportunity Zones in Southeast New Hampshire
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to the Rockingham Economic Development Corporation (REDC) of Raymond, New Hampshire, to establish a Revolving Loan Fund (RLF) to provide critical gap financing to businesses and entrepreneurs in the REDC service area. The EDA…
ABA: Consumer, Banking Groups Applaud Bill to Exempt Economic Impact Payments from Garnishment
Consumer groups and banking industry organizations joined together today to support bipartisan legislation that would prevent Economic Impact Payments from being subject to garnishment. The following statement was issued today by the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, The Clearing House, National Consumer Law Center (on behalf of its low income clients),…
FEMA: President Trump Approves Major Disaster Declaration for Alabama due to Severe Storms and Flooding
FEMA announced that federal disaster assistance has been made available to the state of Alabama to supplement state, tribal and local recovery efforts in the areas affected by severe storms and flooding from Feb. 5 to March 6, 2020. Federal funding also is available to state, tribal and eligible local governments and certain private nonprofit…
OCC: Comptroller Otting Stepping Down on May 29th; Brian Brooks Named Acting Comptroller of the Currency
Comptroller of the Currency Joseph M. Otting today announced he will step down from office on May 29, 2020, and pursuant to 12 USC 4 as designated by Secretary of the Treasury Steven T. Mnuchin, First Deputy and Chief Operating Officer Brian P. Brooks will become Acting Comptroller of the Currency. “It has been my…