OCC: Agencies Issue Principle for Climate-Related Financial Risk Management for Large Financial Institutions
Federal bank regulatory agencies today jointly finalized principles that provide a high-level framework for the safe and sound management of exposures to climate-related financial risks for large financial institutions. The principles are consistent with the risk management framework described in the agencies’ existing rules and guidance. The principles are intended for the largest financial institutions,…
OCC: Agencies Issue Final Rule to Strengthen and Modernize the Community Reinvestment Act
Federal bank regulatory agencies today jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, especially in…
HUD: ConnectHomeUSA Virtual Summit Announced to Bridge the Digital Divide for HUD-Assisted Families
A 3-day virtual summit for interested parties to promote digital inclusion for American families and ensure all HUD-Assisted families enroll in the Affordable Connectivity Program Today, the U.S. Department of Housing and Urban Development (HUD) announced that Secretary Marcia L. Fudge will provide remarks at the 2023 ConnectHomeUSA (CHUSA) Virtual Summit for CHUSA communities, Public…
SBA: National Veterans Small Business Week Announced
Events Nationwide Will Highlight Agency’s Efforts to Support Nearly 2 Million Veteran and Military Spouse-Owned Small Businesses Today, Administrator Isabel Guzman, the head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the SBA will celebrate the 10th annual National Veterans Small Business Week (NVSBW) from Oct….
EDA: 31 Tech Hubs Designated Across America
As part of the President’s Investing in America agenda, the U.S. Department of Commerce identified regional centers primed for technological innovation and job creation The Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today announced the designation of 31 Tech Hubs in regions across the country. This is the first phase…
CDFI Fund: CY 2023 Round of New Markets Tax Credit Program Opens
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2023 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…
CDFI Fund: FY 2024 Application Round Opens for Small Dollar Loan Program
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2024 funding round for the Small Dollar Loan Program (SDL Program) today. SDL Program funding is intended to expand consumer access to financial institutions by providing alternatives to high-cost small dollar lending. The SDL Program funding is…
SBA: Access to Capital Expanded for Underserved Small Businesses Through Mission-Based Lenders
SBA Introduces 143 New Community Advantage Small Business Lending Companies (SBLC) Across America This week at the Opportunity Finance Network (OFN) annual conference, Administrator Isabel Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, announced that the SBA has successfully made permanent its mission-lending Community…
HUD: $40 Million Announced to Hire New and Maintain Existing Service Coordinators for Residents of Public and Indian Housing
Notice of Funding Opportunity available for eligible entities to hire a program coordinator who links residents with training opportunities, job placement organizations, and local employers The U.S. Department of Housing and Urban Development (HUD) announced today that $40 million in funding is available through the Resident Opportunity and Self-Sufficiency (ROSS) Service Coordinator Program for Public…
HUD: More Than $100 Million Announced for Energy Efficiency and Climate Resilience Upgrades in 1,500 Low-Income Households
Funded by President Biden’s Investing in America agenda, this historic investment will expand clean energy in low-income communities, boost housing resilience and sustainability, and help tackle the climate crisis The U.S. Department of Housing and Urban Development (HUD) announced today it is awarding $103.4 million in new loans and grants to significantly renovate the homes…