SBA: Treasury and SBA Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program

 Today, the U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs).  CDFIs work to expand economic opportunity in low-income communities […]

FHFA: Fannie Mae and Freddie Mac Announce New LIBOR Transition Resources

Joint Enterprise LIBOR Transition Playbook and Frequently Asked Questions Now Online Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) have launched new websites that provide key resources for lenders and investors as the Enterprises transition away from the London Interbank Offered Rate […]

CDFI Fund: CDFI Fund Opens FY 2020 Capital Magnet Fund Funding Round

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened today the fiscal year (FY) 2020 funding round for the Capital Magnet Fund.  Through the Capital Magnet Fund, the CDFI Fund competitively awards funds to CDFIs and qualified non-profit housing organizations. These awards can be used […]

Interagency Joint FAQs on CRA Consideration for Activities in Response to the Coronaviurs

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued the attached Frequently Asked Questions (FAQ) on CRA consideration for activities in response to the Coronavirus Disease (referred to as COVID-19). This FAQ provides additional […]

EDA: $4.8 Million Invested to Establish Small Business Center in North Carolina Opportunity Zone

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.8 million grant to the town of Fair Bluff, North Carolina, to construct the Town of Fair Bluff Small Business Center. The EDA grant, to be located in a Tax Cuts and Jobs […]

EDA: $1.8 Million Invested to Improve Infrastructure in McCreary County, KY Opportunity Zone

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to the McCreary County Water District of Whitley City, Kentucky, to upgrade existing sewer infrastructure to accommodate business growth, including the expansion of a local manufacturer. The EDA grant, […]

CFPB: New Study Highlights Challenges Retirees Face to Meet Expenses in Early Years of Retirement

The Consumer Financial Protection Bureau (Bureau) today released a first of its kind study examining the financial resources and expenses of retirees during the first five years of retirement among Americans who retired between 1992 and 2014. Given that a growing number of retirees are not experiencing the expected gradual […]

CDFI Fund: New Native CDFI Resource Bank Now Available

A new Resource Bank for the CDFI Fund’s “Building Native CDFIs’ Sustainability and Impact II (BNCSI II)” Capacity Building Initiative training is now available on the CDFI Fund’s website. For more than ten years, the CDFI Fund has used targeted training and technical assistance to build the capacity of the Native […]