FHFA: Evaluation Criteria Strengthened for Duty To Serve Program
The Federal Housing Finance Agency (FHFA) today announced it is strengthening the evaluation criteria of the Duty to Serve (DTS) Underserved Markets program through the Evaluation Guidance for Fannie Mae and Freddie Mac (the Enterprises). The updated guidance will ensure the Enterprises’ DTS programs have a significant impact in underserved communities. See the updated Evaluation…
CDFI Fund: Important Reminders for FY 2020 CDFI Program and NACA Program Round Applicants
As a reminder for fiscal year (FY) 2020 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) applicants, the deadline for online submission of the SF-424 through Grants.gov for this year’s CDFI Program and NACA Program funding rounds is March 23, 2020 at 11:59 PM ET. Applicants must also have created…
Agencies Encourage Financial Institutions to Meet Financial Needs of Customers and Members Affected by Coronavirus
Federal financial institution regulators and state regulators today encouraged financial institutions to meet the financial needs of customers and members affected by the coronavirus. The agencies recognize the potential impact of the coronavirus on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision….
Census Bureau: 2020 Census Invitations Arrive March 12-20
Ninety-five percent or about 143 million households in the country will receive an initial invitation to respond to the 2020 Census in their mailboxes between March 12 and 20. The U.S. Census Bureau released informational copies today of the invitations, the enclosed materials, and the subsequent reminders households will receive. These materials can help the…
Federal Reserve: CRA Analytics Data Tables Published
The Federal Reserve Board on Friday released a series of Community Reinvestment Act (CRA) Analytics Data Tables. This data resource is intended to provide insight into the historical relationship between bank lending activity and regulatory assessments. The tables combine Home Mortgage Disclosure Act (HMDA) data, CRA small business and small farm loan data, and manually…
OCC: Comptroller Tours Memphis to Discuss Community Reinvestment
Comptroller of the Currency Joseph Otting and Operation HOPE Founder, Chairman, and Chief Executive Officer John Hope Bryant today led a community tour of Memphis to highlight successful examples of and opportunities for financing community reinvestment, economic revitalization, and financial empowerment. The community tour brought together more than 60 bankers and community leaders, including Memphis…
CFPB: Key Steps to Prevent Consumer Harm Announced Including Proposed Whistleblower Award Program
The Consumer Financial Protection Bureau (Bureau) today announced three steps to advance its strategy on one of its key priorities: preventing consumer harm. The Bureau is: Implementing an advisory opinion program to provide clear guidance to assist companies in better understanding their legal and regulatory obligations through advisory opinions; Amending and reissuing its responsible business…
FEMA: President Trump Approves Major Disaster Declaration for Tennessee
FEMA announced that federal disaster assistance has been made available to the state of Tennessee to supplement state and local recovery efforts in the areas affected by severe storms, tornadoes, straight-line winds and flooding on March 3, 2020. The President’s action makes federal funding available to affected individuals in Davidson, Putnam and Wilson counties. Assistance…
HUD: Additional $1.1 Million Announced to Public Housing Authorities to Assist Young People Aging Out of Foster Care
Funding supports youth aging out of foster care to avoid homelessness Today, U.S. Housing and Urban Development (HUD) Secretary Ben Carson announced an additional $1.1 million in funding for HUD’s new Foster Youth to Independence (FYI) Initiative. Ten housing authorities will receive this funding, continuing HUD’s efforts to assist young adults transitioning out of foster care…
EDA: $1.5 Million Invested to Make Critical Roadway Improvements Needed to Support Business Growth in Springdale, AR
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Springdale, Arkansas, to support business growth by improving roadway infrastructure needed to ease the movement of commercial traffic. The EDA grant, to be matched with $1 million in local funds,…