Interagency CRA Frequently Asked Questions Related to COVID-19 Pandemic Issued
Summary The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) today published a new version of frequently asked questions (FAQ) to assist financial institutions and examiners with determining Community Reinvestment Act (CRA) consideration for activities undertaken in response…
FEMA: President Biden Approves Major Disaster Declaration for Idaho
FEMA announced federal disaster assistance has been made available to the state of Idaho to supplement state, tribal and local recovery efforts in areas affected by straight-line winds on Jan. 13, 2021. The President’s action makes federal funding available to state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for…
Federal Reserve: Supervisory Guidance Issued to Clarify Definitions for Minority Depository Institutions
The Federal Reserve on Friday clarified guidance as it relates to definitions for minority depository institutions (MDIs), expanded the MDI definition to include women-owned financial institutions, and highlighted resources available to MDIs through its Partnership for Progress (PFP) program. The Federal Reserve System supports an inclusive financial system and understands the challenges inherent in providing…
FEMA: President Biden Approves Major Disaster Declaration for North Carolina
FEMA announced that federal disaster assistance has been made available to the state of North Carolina to supplement state and local recovery efforts in the areas affected by Tropical Storm Eta from Nov. 12- 15, 2020. The President’s action makes federal funding available to the state and local governments and certain private nonprofit organizations on…
Census Bureau: Small Business Pulse Survey Phase 4 Weekly Data Released
The U.S. Census Bureau today released new data from the fourth phase of the Small Business Pulse Survey (SBPS). Data collection began Feb. 15. Results will be released weekly Feb. 25 to April 22. The SBPS includes questions on topics such as location closings, changes in employment, disruptions in the supply chain, the use of federal assistance initiatives such…
FHFA: COVID-19 Multifamily Forbearance Extended Through June 30, 2021
Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through June 30, 2021, subject to the continued tenant protections FHFA has imposed during the pandemic. The programs were set to expire March 31, 2021. “COVID-19 continues to…
EDA: $5.5 Million in CARES Act Recovery Assistance Invested to Support Industrial, Tourism, and Manufacturing Growth and Resiliency Efforts in Tennessee
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $5.5 million in CARES Act Recovery Assistance grants to help the state of Tennessee prevent, prepare for, and respond to coronavirus. “The Economic Development Administration is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the…
EDA: $3 Million in CARES Act Recovery Assistance Invested to Support Coronavirus Pandemic Economic Recovery and Resiliency Efforts in Morganfield, KY
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to Union County Fiscal Court, Morganfield, Kentucky, to make sanitary sewer infrastructure improvements needed to support business and job growth and to build economic resiliency in the face of the coronavirus pandemic. This EDA grant,…
EDA: $2 Million in CARES Act Recovery Assistance Invested to Support Workforce Growth and Business Capital Assistance Efforts in Kansas
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $2 million in CARES Act Recovery Assistance grants to help the state of Kansas prevent, prepare for, and respond to coronavirus. “The Economic Development Administration is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the…