CFPB: New Online Resource Helps Communities Prevent and Respond to Elder Fraud
The Consumer Financial Protection Bureau (Bureau) today released an online resource to help communities form networks to increase their capacity to prevent and respond to elder financial abuse. The Elder Fraud Prevention and Response Networks Development Guide (Networks Development Guide) offers planning tools, templates, and exercises to help communities create a collaborative network to fight…
SBA and Treasury: New and Revised Guidance Regarding the Paycheck Protection Program Announced
The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past…
HUD: Statement on Google’s Efforts to Improve Fair Lending Compliance
The U.S. Department of Housing and Urban Development (HUD) today announced that HUD has worked with Google to improve Google’s online advertising policies to better align them with requirements of the Fair Housing Act, where applicable. The Fair Housing Act is administered by HUD and prohibits discrimination in the sale, rental and financing of most…
FHFA: COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers Extended Through July
The Federal Housing Finance Agency (FHFA) is extending several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac (the Enterprises) designed to help borrowers during the COVID-19 national emergency. Flexibilities extended until at least July 31st include: Alternative appraisals on purchase and rate term refinance loans; Alternative methods for verifying employment before loan…
EDA: $600,00 Invested to Establish Revolving Loan Fund to Serve Businesses in Northern Montana
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $600,000 grant to the Bear Paw Development Corporation of Northern Montana, Havre, Montana, to capitalize a Revolving Loan Fund that will provide businesses in Northern Montana with the financing they need to meet working capital needs and address potential debt restructuring. This…
CDFI Fund: Application Demand for FY 2020 Round of CDFI Program and NACA Program Released
The fiscal year (FY) 2020 application round for the Community Development Financial Institutions Fund’s (CDFI Fund) Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) closed on April 30, 2020. 588 organizations from across the country requested a total of $535.4 million in awards. Specifically:* 337 organizations requested $337.9 million…
FDIC: Annual Report Issued on Efforts to Preserve and Promote Minority Depository Institutions
The Federal Deposit Insurance Corporation (FDIC) today released a report submitted to Congress that chronicles the efforts the agency made to preserve and promote Minority Depository Institutions (MDIs) in 2019. This report provides a summary profile of MDIs as of the end of 2019; a description of the FDIC’s MDI program; and detailed information on…
HUD: Remaining $2.96 Billion in CAREs Act Funding Provided for Homeless Populations Amid Coronavirus Recovery
$4 Billion total in Emergency Solutions Grants (ESG) targeted toward communities with high homeless populations or individuals at risk of becoming homeless U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced the allocation of $2.96 billion in Emergency Solutions Grants (ESG) funding to support homeless Americans and individuals at risk of…
HUD: Celebrating National Homeownership Month 2020
President Trump issues Proclamation establishing June as National Homeownership Month This week, the U.S. Department of Housing and Urban Development (HUD) marks the beginning of Homeownership Month 2020 – a time of year when HUD, the Federal Housing Administration (FHA) and others recognize the importance of homeownership and its impact upon the lives of American…
HUD: New Grants Announced for Foster Youth to Independence Program
Nine States to Receive Nearly $100,000 in Vouchers, Brining Total to Over 600 Vouchers Since Inception U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced nearly $100,000 in the most recent round of grants for HUD’s Foster Youth to Independence (FYI) Initiative. Since the initiative was launched in June of 2019,…