FFIEC: Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2018 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community…
Census Bureau: New 2017 Annual Business Survey Announced
The Annual Business Survey (ABS) is a new joint project between the U.S. Census Bureau and the National Science Foundation’s National Center for Science and Engineering Statistics. The ABS is a new survey that replaces three existing surveys: the five-year Survey of Business Owners (SBO) for employer businesses, the Annual Survey of Entrepreneurs (ASE), and the Business Research and Development and…
CDFI Fund: CDFI 2018 Certification Reports Due by July 31st
Are you the Authorized Representative of a currently certified CDFI? If so, don’t forget that in order to maintain your organization’s certification status you must complete and submit the Annual Certification and Data Collection Report (ACR) for Report Year 2018. All Authorized Representatives for certified CDFIs should have received an e-mail notification from the CDFI…
CDFI Fund: New CDFI Application Acceptance Paused for 90 Days Beginning August 1st
New CDFI Certification Applications cannot be submitted August 1, 2018 through October 31, 2018 Beginning August 1, 2018, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will pause acceptance of new applications for certification as a Community Development Financial Institution (CDFI). This “blackout” period will be implemented for a period…
FHFA: Proposed Rule Issued on Enterprise Capital Requirements for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) is seeking comments on a proposed regulation on capital requirements for Fannie Mae and Freddie Mac (the Enterprises). The proposed rule would implement a new framework for risk-based capital requirements and a revised minimum leverage capital requirement for the Enterprises. FHFA suspended regulatory capital requirements after placing the Enterprises…
HUD: Historic Agreement Reached with New York City Housing Authority to Improve Health and Living Conditions
U.S. Housing and Urban Development (HUD) Secretary Ben Carson today announced a historic agreement with the nation’s largest public housing authority to correct dangerous lead-based paint and other health and safety hazards. HUD, the Justice Department, and the U.S. Environmental Protection Agency (EPA) reached a Consent Decree with New York City and the New York…
ABA: Foundation Released Bank Guide for Preventing Elder Financial Abuse
Resource available in advance of World Elder Abuse Awareness Day on June 15 Seniors lose approximately $2.9 billion annually to financial abuse – and with baby boomers retiring every day, along with an estimated $12 trillion in wealth transfers expected to take place between generations, that number could continue to grow. In response, America’s banks…
CDFI Fund: Application Period for FY 2018 CDFI Bond Guarantee Program Re-Opened
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today re-opened the fiscal year (FY) 2018 application period for the CDFI Bond Guarantee Program. Recognizing the Consolidated Appropriations Act, 2018, has extended the CDFI Bond Guarantee Program statutory authority until December 31, 2018, the CDFI Fund has decided to amend the…
HUD: Secretary Carson Kicks Off Envision Center Demonstration in Detroit
Centralized hubs to help HUD-assisted households become self-sufficient U.S. Housing and Urban Development (HUD) Secretary Ben Carson traveled to his hometown of Detroit today to announce the first round of ‘EnVision Center’ designations in 17 communities around the nation. One of Secretary Carson’s signature initiatives, EnVision Centers will offer HUD-assisted families access to support services…
FDIC: Newly Formed Money Smart Advance Team Will Get Early Access to & Training on Updated Money Smart for Adults
FIL-32-2018 Summary: The FDIC has formed the new Money Smart Advance Team (MSAT). Banks that engage in financial education activities, or plan to do so, and who join the MSAT will get an early look at the updated instructor-led Money Smart for Adults curriculum, scheduled for release in September, and other benefits. Statement of Applicability…