FEMA: President Biden Approves Major Disaster Declaration for the Hoopa Valley Tribe
FEMA announced that federal disaster assistance has been made available to the Hoopa Valley Tribe to supplement tribal recovery efforts in the areas affected by the severe winter storms and mudslides Feb. 14 to March 5, 2023. Public Assistance federal funding is available to the tribal government and certain private nonprofit organizations on a cost-sharing…
HUD: $15 Million Awarded to Help Low-Income Seniors Age in Place
Grants will fund health and safety repairs in homes of low-income elderly homeowners The U.S. Department of Housing and Urban Development (HUD) today awarded almost $15 million to 13 nonprofit organizations, in addition to a state government to assist in undertaking comprehensive programs that make safety and functional home modifications and limited repairs to meet…
FDIC: Supervisory Guidance Issued on Charging Overdraft Fees for Authorize Positive, Settle Negative Transactions
The FDIC is issuing supervisory guidance to its supervised institutions to ensure that supervised institutions are aware of the consumer compliance risks associated with assessing overdraft fees on a transaction that was authorized against a positive balance but settled against a negative balance (APSN). Statement of Applicability: The contents of, and material referenced in, this FIL…
EDA: $4 Million Invested to Support Climate-Ready Future on Fort Mojave Reservation
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $4 million grant to the Fort Mojave Aha Macav Power Service, Mojave, Arizona, to develop a new source of clean and renewable energy for the Fort Mojave Reservation through the construction of a 2.3 megawatt solar power system….
OCC: Guidance Issued on Overdraft Protection Programs
The Office of the Comptroller of the Currency (OCC) today issued guidance to address the risks associated with bank overdraft protection programs. The guidance provides background information on overdraft protection programs and identifies certain practices that may result in heightened risk exposure. These practices include assessing overdraft fees on “authorize positive, settle negative” transactions and…
CFPB: Guidance Issued to Protect Homeowners from Illegal Collection Tactics on Zombie Mortgages
It is illegal for debt collectors to sue or threaten to sue to collect debts past the statute of limitations Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. The advisory opinion…
Interagency Statement on Completing the LIBOR Transition Issued
Sunset of LIBOR as reference rate for many financial products may pose risks to borrowers Today, the Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies, along with state bank and state credit union regulators, in issuing a statement that the use of United States Dollar LIBOR (USD LIBOR) panels will end…
HUD and Census Bureau: New Residential Sales Report for March 2023 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for March 2023: New Home SalesSales of new single‐family houses in March 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau…
HUD: $5 Million Announced to Help End Youth and Family Homelessness
The U.S. Department of Housing and Urban Development (HUD) announced that it will make available $5 million for new Family Unification Program (FUP) voucher assistance for youth and families who lack safe and adequate housing. This funding opportunity will help strengthen coordination among public housing authorities (PHAs), public child welfare agencies (PCWAs), and Continuums of…
HUD: Public Comments Sought on Potential Changes to Regulation Requiring Accessibilty and Prohibiting Discrimination on the Basis of Disability in HUD-Assisted Programs
Today, the U.S. Department of Housing and Urban Development (HUD) published an Advance Notice of Proposed Rulemaking (ANPRM) in the Federal Register. HUD is considering revising the Section 504 of the Rehabilitation Act of 1973 (Section 504) implementing regulation at 24 C.F.R. part 8 and requests public comment to assist HUD in considering potential revisions. Section 504…