CFPB: New Way Launched for the Public to Petition Agency for Action
Reforms Will Help the Public to Exercise their Constitutional Rights The Consumer Financial Protection Bureau (CFPB) today made it easier for the public to meaningfully engage with the agency and request regulatory changes. Starting today, members of the public can submit petitions for rulemaking directly to the CFPB. The petitions will be posted on public dockets…
FEMA: President Biden Approves Major Disaster Declaration for Hawaii
FEMA announced that federal disaster assistance has been made available to the state of Hawaii to supplement state and local recovery efforts in the areas affected by severe storms, flooding and landslides during the period of Dec. 5-10, 2021. Federal funding is available to eligible state and local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair…
OCC: Project REACh Efforts Launched in Detroit
Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch Detroit REACh. The Office of the Comptroller of the Currency (OCC) launched Project REACh, the Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, business, and technology to identify…
Census Bureau: Small Business Pulse Survey Phase 8 Begun
The U.S. Census Bureau today announced the beginning of data collection for Phase 8 of the Small Business Pulse Survey (SBPS). This experimental survey was designed and launched in April 2020 to measure the effect of changing business conditions during the coronavirus pandemic. It has also proven valuable in measuring the impact of other major events such…
HUD: FHA Removes Temporary COVID-19 Underwriting Mitigants for Multifamily Transactions
Resilient portfolio performance allows return to Multifamily Accelerated Processing Guide standard requirements for reserves, escrows, and cash-out refinance transactions The Federal Housing Administration (FHA) announced on Monday at the Mortgage Bankers Association Commercial/Multifamily Finance Convention & Expo that it is removing temporary COVID-19 underwriting mitigants for multifamily transactions insured under Section 223(f) of the National Housing Act,…
OCC: Acting Comptroller Discusses CRA Modernization
Acting Comptroller of the Currency Michael J. Hsu today discussed the history of the Community Reinvestment Act (CRA) with the National Community Reinvestment Coalition. His remarks highlighted how a modernized CRA can help address persistent disparities and gaps in wealth and economic opportunities in minority, rural, and other vulnerable communities. Related Links Remarks (PDF) Acting Comptroller…
CDFI Fund: FY 2022 CDFI Program and NACA Program Application Round Opened
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2022 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) today. The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing…
EDA: $800,000 Invested in American Rescue Plan Funds to Plan Redevelopment of Former Coal Power Plant Site in Springfield, MO
Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding an $800,000 grant to the city of Springfield, Missouri, to conduct planning efforts for the redevelopment of the Lake Springfield area. This grant is funded by the American Rescue Plan and EDA’s $300 million Coal Communities Commitment. This grant…
FHFA: Input Requested on Strategic Plan for Fiscal Years 2022-2026
Public input to be received during 30-day period The Federal Housing Finance Agency (FHFA) today requests input on its Draft Strategic Plan, which outlines the Agency’s priorities for the coming years as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises). The Strategic Plan contains…
ABA: Foundation Launches 2022 Financial Education Campaigns and Unveils New Free Resources for Banks
The American Bankers Association Foundation today launched its 2022 financial education campaigns, calling on America’s banks and their more than two million employees across the nation to participate in these important and effective industry-wide efforts to promote consumer financial readiness. This year, the ABA Foundation will offer four specific initiatives that encourage banker volunteers to…