HUD: Joint Effort Launched with Puerto Rico to Modernize Energy Grid
2022 Actions Include Taking Ongoing Projects to Construction Phase, Investments in Grid Reliability, a Roadmap for 100% Clean, Affordable and Reliable Power Across Puerto Rico The U.S. Department of Housing and Urban Development (HUD) today joined the Departments of Energy (DOE) and Homeland Security (DHS) and the Commonwealth of Puerto Rico to launch a new…
FDIC: #GetBanked Campaign Expanded to Los Angeles, Dallas and Detroit
Public awareness push to promote financial inclusion among the unbanked As part of its ongoing work to expand financial inclusion to unbanked individuals and families, the Federal Deposit Insurance Corporation (FDIC) today announced it will expand its #GetBanked public awareness campaign into the Los Angeles, Dallas, and Detroit metropolitan areas. The FDIC’s #GetBanked campaign is focused on…
OCC: New Bulletin Addresses Processes for Considering Input from State Banking Commissioners Regarding Performance Under State Community Reinvestment Laws
This bulletin addresses the Office of the Comptroller of the Currency’s (OCC) processes for considering input from state banking commissioners regarding national banks’ performance under state community reinvestment laws, including implementation of community reinvestment-related provisions of the Riegle–Neal Interstate Banking and Branching Efficiency Act (Riegle–Neal Act). (Note that the Riegle–Neal Act does not apply to…
HUD: Access to More Than $2 Billion in Federal Funds Opened for Disaster Recovery and Mitigation
The Department of Housing and Urban Development (HUD) today issued the Allocations for Community Development Block Grant Disaster Recovery and Implementation of the CDBG-DR Consolidated Waivers and Alternative Requirements Notice [“2020 CDBG-DR Notice”], a critical step taken by the department to open access to more than $2 billion in federal funds to help communities equitably recover and…
SBA: Updated Guidance Announced Regarding Deadline for Targeted EIDL Advance Program Reevaluations
Submissions for Targeted Advance Reevaluation Requests Due by Feb. 15 Today, the U.S. Small Business Administration (SBA) announced updated guidance for those small businesses that have already applied for the Targeted EIDL Advance program, received a decline, and are interested in applying for reevaluation. Specifically, the following updated guidance is being provided: Current Targeted EIDL Advance applicants: Those…
CFPB: New Report Reviews Financial Issues Facing People and Families in Contact with the Criminal Justice System
Report Finds Products and Services Rife with Burdensome Fees and Lack of Choice The Consumer Financial Protection Bureau (CFPB) today published a review of the financial issues facing people and families who come in contact with the criminal justice system. The report, “Justice-Involved Individuals and the Consumer Financial Marketplace,” describes an ecosystem rife with burdensome fees and…
CDFI Fund: Application Demand for FY 2021 Round of BEA Program Released
Over $1.1 Billion in Increased Investments, Lending and Services in Highly Distressed Communities and to CDFIs The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2021 round of its Bank Enterprise Award Program (BEA Program). A total of 161 applications were…
ABA: Banks Encouraged to Host 12th Annual Lights, Camera, Save! Teen Video Contest
Popular national competition promotes financial education The American Bankers Association Foundation is urging banks across the country to participate in its upcoming Lights, Camera, Save! video competition that runs from Feb. 21 to March 31. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management. The…
SBA: New Tribal Consultation Policy Signed Committing to Continued Equitable Access for Indian Country Businesses
Today, Administrator Isabella Casillas Guzman head of the U.S. Small Business Administration (SBA), and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet signed the Agency’s Tribal Consultation Policy of 2022. The Agreement, which directs the SBA’s coordination with Tribal governments, also recognizes the Federal Government’s unique relationship with Native American governments and its responsibility to…