CFPB: Research Finds Payday Borrowers Continue to Pay Significant Rollover Fees Despite State-Level Protections and Payment Plans
Research suggests deceptive industry practices drive cycles of costly reborrowing A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit payday lending. Instead of using…
CDFI Fund: $26 Million in BEA Funds Awarded to Banks that Increased Investments in Severely Distressed Communities
Recipients Collectively Increased Lending and Services to Nation’s Most Distressed Areas by over $1.1 billion The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today $26 million in awards to 158 FDIC-insured banks, through the fiscal year (FY) 2021 round of the Bank Enterprise Award Program (BEA Program), for increasing…
OCC: FFIEC’s 2022 “A Guide to HMDA Reporting: Getting It Right!” Released
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2022 guide). The 2022 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR…
OCC: Virtual Minority Depository Institutions Advisory Council Meeting Scheduled for April 26th
The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, April 26, 2022. The meeting is open to the public and will begin at 1:00 p.m. Eastern Daylight Time (EDT). The MDIAC advises the OCC on steps…
HUD: Additional $3.3 Million in American Rescue Plan Funds Made Available to Fight Housing Discrimination Related to the Coronavirus Pandemic
The U.S. Department of Housing and Urban Development (HUD) announced on Tuesday that it is making an additional $3,285,353 in American Rescue Plan (ARP) funding available to help HUD’s Fair Housing Initiatives Program (FHIP) agencies combat housing discrimination related to the COVID-19 pandemic. Organizations that qualify for the funding, which is being awarded through FHIP’s…
HUD: National Fair Housing Month 2022 Commemorated
Today, the U.S. Department of Housing and Urban Development (HUD) kicked off Fair Housing Month 2022. This year’s Fair Housing Month theme, Fair Housing: More Than Just Words, underscores the Biden-Harris Administration’s commitment and progress toward advancing equity in housing and securing equal access to housing opportunities for all. “The Fair Housing Act recognized what generations…
SBA: Registration Opened for National Small Business Week Virtual Summit “Building a Better America Through Entrepreneurship”
Today, the U.S. Small Business Administration (SBA) announced that registration for its 2022 National Small Business WeekVirtual Summit, “Building a Better America Through Entrepreneurship,” is now open. This year’s National Small Business Week (NSBW), held May 1-7, 2022, will acknowledge small businesses from across the country for their resilience, ingenuity, and creativity. It will also recognize SBA partners for…
FEMA: “Before, During, and After” Podcast Relaunched with New Focus and Format
FEMA Administrator Deanne Criswell announced that FEMA is relaunching the agency’s podcast, “Before, During & After” across multiple platforms today. The podcast will offer a new format with information and insights tailored to the nation’s emergency management community. The first of the relaunched episodes is a one-on-one interview with Administrator Criswell, setting the stage with a…