HUD: First-Ever Funding Opportunity for Coordinated Approaches to Address Unsheltered Homeless, Including Resources for Rural Communities, Announced
HUD Package Includes $322 Million, Including $54.5 Million Set-Aside for Rural Communities, For Permanent Housing, Supportive Services, And Other Costs Package Also Provides $43 Million To Fund Approximately 4,000 New Incremental Housing Choice Vouchers The Biden Administration through the U.S. Department of Housing and Urban Development (HUD) today released a first-of-its-kind package of resources to…
FHFA: Sandra L. Thompson Sworn in as Director of the Federal Housing Finance Agency
In an Agency ceremony, Sandra L. Thompson was sworn in today to a five-year term as the third Senate-confirmed Director of the Federal Housing Finance Agency (FHFA). Thompson was appointed to head the Agency by President Joe Biden. FHFA, created by the Housing and Economic Recovery Act of 2008, is the regulator and conservator of Fannie Mae…
FDIC: Advisory Committee on Economic Inclusion to Meet Tuesday, June 28th
Five New Members also Announced The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Tuesday, June 28, to discuss the Notice of Proposed Rulemaking to modernize the Community Reinvestment Act, and issues of equity in residential property valuation and appraisal. The committee members will also discuss key challenges facing…
EDA: $2.6 Million Invested to Establish the Building Resilient Economies in Coal Communities Initiative
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.6 million grant to the National Association of Counties (NACo) to lead a coal-focused Community of Practice called the Building Resilient Economies in Coal Communities Initiative. The establishment of this multi-organizational, self-governing, knowledge-sharing community will empower…
CFPB: ANPR Issued and Review Initiated of Credit Card Company Penalty Policies
The Consumer Financial Protection Bureau (CFPB) is taking the first step toward addressing credit card company penalty policies costing consumers $12 billion each year, starting by looking at excessive late fees. In an Advance Notice of Proposed Rulemaking published today, the CFPB asks for information on the Federal Reserve Board of Governors’ 2010 immunity provision…
CDFI Fund: $336.4 Million in Capital Magnet Fund Awards Announced to Support Affordable Housing
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 59 organizations $336.4 million today for the development of affordable housing and community facilities serving low-income individuals, families, and communities. These awards were made through the fiscal year (FY) 2021 round of the Capital Magnet Fund, and will support financing for…
ABA: Farm Bank Lending Increased to $99.6 Billion in 2021
Farm banks held $14.6 billion in PPP loans, $43.8 billion in small and micro loans Agricultural lending by U.S. farm banks increased 5.5% in 2021 to $99.6 billion, according to the American Bankers Association’s annual Farm Bank Performance Report. The report attributed the change to a 7.5% increase in outstanding loans secured by farmland and…
HUD: $16 Million Rental Assistance Demonstration Conversion Transaction Closed with the Columbus Metropolitan Housing Authority
CMHA will use RAD to preserve 142 affordable rental homes and develop 8 new affordable rental homes at Post Oak Station II The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on Tuesday announced that it has closed a Rental Assistance Demonstration (RAD) transaction with the Columbus Metropolitan Housing Authority (CMHA) in…
FDIC: Board of Directors Amends Restoration Plan and Issues a Proposed Rule on Assessments, Revised Deposit Insurance Assessment Rates
The Federal Deposit Insurance Corporation (FDIC) Board of Directors (Board) today issued a notice of proposed rulemaking to increase deposit insurance assessment rates by 2 basis points for all insured depository institutions in order to increase the likelihood that the reserve ratio of the Deposit Insurance Fund (DIF) reaches the statutory minimum of 1.35 percent…
EDA: Last Week, Over $17 Million in American Rescue Plan Funds Invested
Last week, the following grants were made under the American Rescue Plan Funds program and the CARES Act Recovery Assistance program: June 21, 2022 – U.S. Department of Commerce Invests $3 Million in American Rescue Plan Funds to Support Manufacturing Expansion in Orange County, Indiana June 21, 2022 – U.S. Department of Commerce Invests $3.7 Million in…