CDFI Fund: Update to NMTC Certification, Compliance, and Monitoring FAQs
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Frequently Asked Questions (FAQ) document for New Markets Tax Credit compliance on its website. This document supersedes the December 2015 publications of the FAQ document by adding, revising, or updating select questions from the earlier edition. The major updates includes: Revised guidance regarding restrictions on…
ABA: New Report Examiners Banks’ Use of Social Media
66 percent plan to increase spending on social media resources this year WASHINGTON – Three out of four bankers believe social media is important to their banks and 66 percent plan to increase spending on social media resources this year, according to a new report released today by the American Bankers Association. “The State of…
ABA: Foundation Launches Social Media Contest for Lights, Camera, Save! Finalists
Cast your vote for ‘Savers’ Choice’ by Feb. 8 WASHINGTON — The American Bankers Association Foundation is hosting a social media contest to allow viewers nationwide to vote for their favorite Lights, Camera, Save! video entry. Lights, Camera, Save! is an annual video contest that encourages teen participants to produce a short film that communicates…
CFPB: Debt Relief Attorneys Sued for Collecting Illegal Fees from Struggling Consumers
WASHINGTON, D.C. – The Consumer Financial Protection Bureau today took action against a ring of law firms and attorneys who collaborated to charge illegal fees to consumers seeking debt relief. In a complaint filed in federal court, the CFPB alleges that Howard Law, P.C., the Williamson Law Firm, LLC, and Williamson & Howard, LLP, as well as…
OCC: Supporting Earned Income Tax Credit Awareness Day
WASHINGTON — Comptroller of the Currency Thomas J. Curry issued the following statement recognizing Earned Income Tax Credit (EITC) Awareness Day. The Office of the Comptroller of the Currency (OCC) is pleased to support Earned Income Tax Credit Awareness Day, a nationwide effort to educate the public about a valuable tax benefit for working families…
CDFI Fund: Register for FY 2017 CDFI Bond Guarantee Program Workshop
The CDFI Fund and the Office of the Comptroller of the Currency will co-sponsor one (1) two-day workshop for potential applicants pertaining to the CDFI Bond Guarantee Program’s fiscal year (FY) 2017 Qualified Issuer and Guarantee Application requirements. Specifically, the workshops will review the CDFI Bond Guarantee Program’s structure and include in-depth discussions on the…
SBA: New Initiative Announced with GIIRS Rating System for Private Funds and Companies
SBA Administrator Maria Contreras-Sweet today announced a new initiative with Global Impact Investing Rating System (GIIRS), an innovative rating system that evaluates the operational and business model impact of private funds and companies. Under the terms of the understanding, OII will use GIIRS ratings as one factor to rate and authenticate the influx of Impact…
FHFA: Public Input Requested on Duty to Serve Program
Washington, D.C. – The Federal Housing Finance Agency (FHFA) is requesting public input on chattel loan pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) and the proposed Evaluation Guidance under the final rule on Duty to Serve Underserved Markets. FHFA issued a final rule on Dec. 13, 2016 to implement the Duty to…
CDFI Fund: 2017 Update Bond Guarantee Program Applicants Application Workshop and Deadlines
To prepare potential applicants for the fiscal year (FY) 2017 round of the CDFI Bond Guarantee Program, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has announced that it will conduct one (1) two-day workshop for potential applicants on February 22 & 23, 2017 at the Office of the Comptroller…
HUD: $10 Million in “Sweat Equity” Grants Announced
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro today awarded $10 million in “sweat equity” grants to four non-profit self-help housing organizations through HUD’s Self-Help Homeownership Opportunity Program (SHOP). This funding will create at least 539 affordable homes and significantly lower their purchase price for low-income buyers, who will contribute…