FHFA: Notice of Proposed Rulemaking Issued on Enterprise Resolution Plans
Proposed rule would require Enterprises to submit “living will” resolution plans The Federal Housing Finance Agency (FHFA) today announced that it is seeking comment on a notice of proposed rulemaking that would require Fannie Mae and Freddie Mac (the Enterprises) to develop credible resolution plans, also known as living wills. These resolution plans would facilitate…
FEMA: President Trump Approves Major Disaster Declaration for Oklahoma
FEMA announced today that federal disaster assistance has been made available to the state of Oklahoma to supplement state, tribal and local recovery efforts in the areas affected by severe winter storms from Oct. 26-29, 2020. Federal funding also is available to state, tribal and eligible local governments and certain private nonprofit organizations on a…
HUD: FHA Extends Options for Single Family Borrowers Financially Impacted by COVID-19
Extensions ensure borrowers can continue to seek assistance and avoid eviction and foreclosure while maintaining temporary policy flexibilities for lenders and servicers Today, the Federal Housing Administration (FHA) announced it is extending the foreclosure and eviction moratorium for single family FHA-insured mortgages for an additional two months, through February 28, 2021. The FHA is also extending through…
FDIC: New Application Programming Interface and Modernized Version of BankFind Released
The Federal Deposit Insurance Corporation (FDIC) today announced the release of two bank data tools—the Application Programming Interface (API) for financial data and a modernized version of BankFind. These tools make it simpler for the public to connect with the FDIC by offering easy-to-use interfaces, interactive maps, a sleek mobile-ready experience and modern data delivery options. …
CFPB: Advisory Opinion Issued to Help Expand Fair, Equitable and Nondiscriminatory Access to Credit
Today, the Consumer Financial Protection Bureau (Bureau) issued an advisory opinion to address regulatory uncertainty regarding Regulation B, which implements the Equal Credit Opportunity Act (ECOA), as it applies to certain aspects of special purpose credit programs (SPCPs). The ECOA and Regulation B prohibit discrimination on certain prohibited bases in any aspect of a credit…
HUD: Opportunity Zone Radio Tour Kicks Off to Commemorate Three Years of Revitalizations in Forgotten Communities
Task Force members to join Secretary Carson in Radio Tour commemorating three years of revitalization success White House Opportunity and Revitalization Council Chairman and U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced a nationwide radio tour to mark the three-year anniversary of the enactment of President Trump’s historic Tax Cuts,…
HUD: $78 Million Awarded to Help Families Reach Self-Sufficiency
Federal funding to support education and employment among HUD-assisted families Today, U.S. Housing and Urban Development (HUD) Secretary Ben Carson awarded approximately $78 million to hundreds of public housing authorities across the country to help residents of public housing and voucher-assisted housing increase their earned income and reduce their dependency on public assistance and rental…
EDA: $1.7 Million in CARES Act Recovery Assistance Invested to Boost Kansas State University Efforts for Coronavirus Pandemic
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million CARES Act Recovery Assistance grant to Kansas State University, Manhattan, Kansas, to modernize and retool the University’s Technology Development Institute in response to adverse economic impacts caused by the coronavirus pandemic. The EDA grant, to…
EDA: $1.1 Million in CARES Act Recovery Assistance Invested to Capitalize Revloing Loan Fund in Del Norte County, CA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million CARES Act Recovery Assistance grant to the Arcata Economic Development Corporation, Eureka, California, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to small businesses and entrepreneurs adversely affected…
CFPB: Final Rule Issued on Consumer Disclosures Related to Debt Collection
The Consumer Financial Protection Bureau (Bureau) issued today a final rule to implement Fair Debt Collection Practices Act (FDCPA) requirements regarding certain disclosures for consumers. The rule requires debt collectors to provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers…