CDFI Fund: FY 2020 CDFI Program and NACA Program Round Open for Applications
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing…
FDIC & OCC: 30-day Extension of Comment Period for Proposed Changes to CRA Regulations Announced
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the regulations implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA…
FEMA: Public Assistance Approved for Eight More Puerto Rico Municipalities
Fourteen municipalities are now eligible to be reimbursed by the federal government for debris removal and for emergency protective measures that were triggered by the 6.4 earthquake on Jan. 7. The municipalities of Adjuntas, Jayuya, Juana Díaz, Lajas, Las Marías, Mayagüez, Sabana Grande and Utuado were added Friday to the original six municipalities which were designated in the presidential…
EDA: Over $700,000 Invested to Support Tribal Disaster Recovery Efforts in Wisconsin
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $709,222 grant to the Bad River Band of Lake Superior Tribe of Chippewa Indians in Odanah, Wisconsin, to hire an Economic Recovery Coordinator to advance disaster recovery efforts in the region. The project is located near a Tax Cuts and Jobs Act designated Opportunity Zone….
OCC: FDIC & OCC Announce 30-day Extension of Comment Period for Proposed Changes to CRA Rules
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the rules implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA…
HUD: $655 Million Announced to Help Tribes Support More Affordable Housing
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced more than $655 million in Indian Housing Block Grants (IHBG) to Native American Tribes in 38 States. Funding is distributed to eligible Tribes and their tribally designated housing entities (TDHEs) to carry out a range of affordable housing activities in their communities….
FHFA: Fannie Mae and Freddie Mac Publish Joint Enterprise Credit Score Solicitation
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) have published a Joint Credit Score Solicitation. “The publication of the solicitation is the first step in the process of evaluating new credit score models,” said FHFA Director Mark Calabria. “FHFA will ensure that the Enterprises validate and approve credit score…
HUD: $20 Million Awarded to Help Public Housing Residents Secure Higher Paying Jobs
Housing Authorities in nine communities will receive funding under Jobs Plus U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today visited Carmelitos Public Housing Development and announced a $20 million investment to nine public housing agencies (PHA) to help public housing families increase their earned income and become self-sufficient. See chart below…
FDIC: Farmers and Merchants Bank Assumes All of the Deposits of Ericson State Bank, Ericson, NE
Ericson State Bank in Ericson, Nebraska, was closed today by the Nebraska Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Farmers and Merchants Bank in Milford, Nebraska, to assume all of the deposits of Ericson…
HUD: New Report Explores Problem of “Credit Invisibility” Among HUD-Assisted Households
First-of-its-kind study examines reporting rent payments to credit reporting agencies Landlords and property management groups regularly use credit checks to make determinations about renting to potential tenants and many employers incorporate credit checks in hiring decisions. A low credit score or credit invisibility can thusly limit housing choice and employment opportunity for low-income families. A…