FEMA: Coronavirus (COVID-19) Pandemic Eligible Emergency Protective Measures
Consistent with the President’s national emergency declaration for the coronavirus (COVID-19) pandemic on March 13, 2020, FEMA urges officials to, without delay, take appropriate actions that are necessary to protect public health and safety pursuant to public health guidance and conditions and capabilities in their jurisdictions. FEMA provides the following guidance on the types of emergency…
Federal Bank Regulatory Agencies Issue Interim Final Rule for Money Market Liquidity Facility
To support the flow of credit to households and businesses, the federal bank regulatory agencies today announced an interim final rule to ensure that financial institutions will be able to effectively use a liquidity facility recently launched by the Federal Reserve Board. The Board launched the Money Market Mutual Fund Liquidity Facility, or MMLF, yesterday…
HUD: Immediate Relief Provided for Homeowners Amid Nationwide Coronavirus Response
Suspends all foreclosure and evictions for the next 60 days U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson, in consultation with the Trump Administration and the Coronavirus Task Force, today authorized the Federal Housing Administration (FHA) to implement an immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next…
FHFA: Foreclosures and Evictions Suspended for Enterprise-Backed Mortgages
Today, to help borrowers who are at risk of losing their home, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency. The foreclosure and eviction suspension applies to homeowners with an Enterprise-backed single-family…
FDIC: Insured Bank Deposits Are Safe; Beware of Potential Scams Using the FDIC’s Name
In light of recent developments related to the coronavirus, the Federal Deposit Insurance Corporation (FDIC) is reminding Americans that FDIC-insured banks remain the safest place to keep their money. The FDIC is also warning consumers of recent scams where imposters are pretending to be agency representatives to perpetrate fraudulent schemes. Since 1933, no depositor has…
CFPB: Director Kraninger Statement on Joint HUD-FHFA Announcement on Foreclosure and Eviction Moratorium
Consumer Financial Protection Bureau Director Kathleen L. Kraninger made the following statement today after the U.S. Department of Housing and Urban Development and the Federal Housing Finance Agency announced a moratorium on foreclosures and evictions: “The actions taken today by HUD and FHFA are timely and an important step in providing assurance to consumers. I…
CDFI Fund: Bond Guarantee Program Application Period Opens for FY 2020
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in guarantee authority is available to Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2020. Through the CDFI Bond…
FEMA: President Trump Approves Major Disaster Declaration for South Carolina
FEMA announced that federal disaster assistance has been made available to the state of South Carolina to supplement state and local recovery efforts in the areas affected by severe storms, tornadoes, straight-line winds and flooding from Feb. 6 to 13, 2020.The President’s action makes federal funding available to the state and eligible local governments and…
SBA: Updated Criteria on States for Requesting Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19)
Today, as part of the Trump Administration’s aggressive, whole-of-government efforts to combat the Coronavirus outbreak (COVID-19) and minimize economic disruption to the nation’s 30 million small businesses, U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus (COVID-19). The relaxed criteria will have two immediate…