EDA: $21 Million Invested to Accelerate Entrepreneurship Across the Nation
U.S. Secretary of Commerce Wilbur Ross today announced that 40 organizations — including nonprofits, institutions of higher education, and entrepreneurship-focused organizations — from 28 states and two territories will receive $21 million to create and expand cluster-focused entrepreneurship and technology transfer programs, and early-stage seed fund support under the Economic Development Administration’s (EDA) 2018 Regional…
CFPB: 2017 Fair Lending Report Promotes Fair, Equitable and Nondiscriminatory Access to Credit
Access to credit is a key to economic mobility and prosperity for consumers and small businesses alike. Our annual Fair Lending Report to Congress highlights how in 2017 we continued to focus on promoting fair, equitable, and nondiscriminatory access to credit in mortgage lending, continued fair lending supervision of servicing and small business lending, and…
OCC: New Report Discusses Key Risks for Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported credit, operational, compliance, and interest rate risks are key themes for the federal banking system in its Semiannual Risk Perspective for Fall 2018. Highlights from the report include: Credit quality remains strong, but the OCC is monitoring the origination quality of new loans, the…
FEMA: President Trump Approves Major Disaster Declaration for the Tohono O’odham Nation
The Federal Emergency Management Agency announced today that federal disaster assistance has been made available for the Tohono O’odham Nation to supplement tribal recovery efforts in the areas affected by severe storms and flooding from October 1 to October 3, 2018. Federal funding is available to the Tohono O’odham Nation and certain private nonprofit organizations…
FEMA: President Trump Signs Emergency Declaration for Alaska
The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that federal emergency aid has been made available to the state of Alaska to supplement state, tribal and local response efforts due to the emergency conditions in the area affected by an earthquake on November 30, 2018. The President’s action authorizes FEMA…
FDIC: CRA Examination Schedules for First Quarter 2019 and Second Quarter 2019 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first quarter of 2019 and second quarter of 2019. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of…
FHFA: Index Shows Mortgage Rates Increased in October 2018
Nationally, interest rates on conventional purchase-money mortgages increased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.75 percent for loans closed in late October, up 13 basis points from 4.62 percent in September….
OCC: First and Second Quarter 2019 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 first and second quarters of 2019. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA, and suggests that comments be…
HUD and Census Bureau: New Residential Sales Report for October 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for October 2018: New Home Sales Sales of new single-family houses in October 2018 were at a seasonally adjusted annual rate of 544,000. This is 8.9 percent (±13.7 percent)* below the revised September…