CDFI Fund: Application Demand for 2017 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 230 applications under the 2017 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program encourages economic development in low-income and distressed communities by making tax credit allocations available to Community…
FHFA: Results Announced of Fannie Mae and Freddie Mac Stress Tests
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress testsFannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Dodd-Frank Act requires certain financial institutions with more than $10 billion…
CFPB: Prototypes Unveiled of New “Know Before You Owe” Overdraft Disclosure
New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled new Know Before You Owe overdraft disclosure prototypes designed to improve the model form that banks and credit unions already provide to consumers weighing overdraft coverage. The Bureau is currently…
Federal Reserve: Now Available | Harvesting Opportunity: The Power of Regional Food Systems Investments to Transform Communities
We are pleased to announce the publication of Harvesting Opportunity: The Power of Regional Food System Investments to Transform Communities. The book, released by the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of St. Louis and the U.S. Department of Agriculture’s agencies of Rural Development and the Agricultural Marketing Service,…
HUD: $38 Million Available to Fight Housing Discrimination
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today it is making $38 million available to fight housing discrimination through the Department’s Fair Housing Initiatives Program (FHIP). The grants offered through three FHIP funding notices will support a variety of critical fair housing activities, including fair housing testing in the rental and…
SBA: White House Hosts Small Business Owners During American Dream Week
WASHINGTON – More than 100 small business owners from around the country voiced concerns about taxes, regulations and the need for a skilled workforce at a forum hosted by President Trump at the White House on Tuesday. “America is on the verge of a golden age for small business,” Trump said. “We are ending job-killing…
CFPB: Denied for a Bank Account? Here’s What You Should Know
You may have heard that we recently determined that JPMorgan Chase Bank, N.A. (Chase) violated the Fair Credit Reporting Act (FCRA) in connection with its furnishing of consumer deposit account information to specialty consumer reporting companies. Specialty consumer reporting companies collect information and provide reports about how consumers use their deposit accounts. These companies are…
ABA: “Take Your Lawmaker to Work” Program Kicks Off
Members of Congress invited to experience a ‘day in the life’ as a bank employee WASHINGTON — August marks the start of the American Bankers Association’s “Take Your Lawmaker to Work” program – an annual initiative that encourages bankers to host their elected policymakers at a local branch. Bankers across the country have invited members…
HUD: Additional $179 Million to Help States Recover from 2015 & 2016 Disasters
WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Ben Carson today announced an additional $178.5 million to help hard-hit areas in several states recover from severe flooding that occurred in 2015 and 2016. The grants announced today are provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program. Combined with CDBG-DR grants…