Federal Reserve: “A Guide to HMDA Reporting: Getting It Right!” Revised
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently developed a revised version of “A Guide to HMDA Reporting: Getting It Right!” (Guide). The updated Guide is for use in connection with Home Mortgage Disclosure Act (HMDA)1 data collected beginning on January 1, 2019 pursuant to the Consumer Financial Protection Bureau’s…
CDFI Fund: Update to NMTC Certification, Compliance Monitoring and Evaluation FAQs
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Frequently Asked Questions (FAQ) document for New Markets Tax Credit Program (NMTC Program) compliance on its website. This document supersedes the May 2017 publication of the FAQ document by adding, revising, or updating select questions from the earlier edition. Updates include: Information on how allocation…
HUD: Facebook Charged with Housing Discrimination over Company’s Targeted Advertising Practices
The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging Facebook with violating the Fair Housing Act by encouraging, enabling, and causing housing discrimination through the company’s advertising platform. Read HUD’s Charge against Facebook. Today’s action follows HUD’s investigation of a Secretary-initiated complaint filed on August 13, 2018. HUD alleges that Facebook…
FDIC: New Members of the Advisory Committee on Community Banking Announced
The Federal Deposit Insurance Corporation (FDIC) has announced the selection of six new members to its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section…
EDA: $2 Million Invested to Support Manufacturing Industry in Wichita, KA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to Wichita State University (WSU) of Wichita, Kansas, to purchase equipment needed to support regional manufacturing growth and training. According to grantee estimates, the project is expected to create 150 jobs. “The Trump Administration…
FDIC: Meeting of Advisory Committee on Community Banking Announced
The Federal Deposit Insurance Corporation (FDIC) today announced that it will hold a meeting of the Advisory Committee on Community Banking on Thursday, March 28. During the meeting, FDIC senior staff will discuss efforts regarding de novo institutions, community bank technical assistance efforts, the 2017 FDIC National Survey of Unbanked and Underbanked Households, and various…
CPFB: Enhancements to Advisory Committees Announced and Member Applications Now Open
Today the Consumer Financial Protection Bureau (Bureau) announced enhancements to its advisory committee charters. The enhancements are a result of CFPB Director Kathleen L. Kraninger’s engagement with current and former advisory committee members during her three-month listening tour. “I’ve seen firsthand how the Bureau benefits from the valuable input provided by committee members. I have…
OCC: Office of the Comptroller of the Currency Fines Citibank, N.A. $25 Million for Violating the Fair Housing Act
The Office of the Comptroller of the Currency (OCC) today assessed a $25 million civil money penalty against Citibank, N.A., for violations of the Fair Housing Act. The OCC found that the bank had certain control weaknesses related to its Relationship Loan Pricing (RLP) program designed to provide eligible mortgage loan customers either a credit…
SBA: Nation’s Top Small Businesses Honored by SBA Administrator
Winners to be formally recognized in Washington, D.C. on May 5-6 WToday, Administrator Linda McMahon, the head of the U.S. Small Business Administration, announced the 2019 Small Business Persons of the Year winners from the 50 states, the District of Columbia, Puerto Rico, and Guam. Each of the winners have been invited to attend ceremonies in Washington,…
EDA: $1 Million Invested to Expand Broadband Service in South Bend, IN
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to St. Joseph County, Indiana, to expand high-speed broadband infrastructure at the Indiana Enterprise Center (IEC). According to grantee estimates, the project is expected to create 230 jobs and spur $710 million in private…