CRA Newswire

CFPB: Membership Announced for Taskforce on Federal Consumer Financial Law

The Consumer Financial Protection Bureau (CFPB) today announced four members who will serve on the Taskforce on Federal Consumer Financial Law. The Taskforce on Federal Consumer Financial Law will examine the existing legal and regulatory environment facing consumers and financial services providers and report to Director Kraninger its recommendations for ways to improve and strengthen…

FHFA: Nearly 4.4 Million Homeowners Helped Since Conservatorship

The Federal Housing Finance Agency (FHFA) today released its third quarter 2019 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 26,475 foreclosure prevention actions in the third quarter of 2019, bringing the total number of foreclosure prevention actions to 4,381,036 since September 2008.   The report also shows that 37 percent of loan modifications…

EDA: $3 Million Invested to Equip Biotech Incubator in Irvine, CA

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to The Beall Family Foundation of Newport Beach, California to provide scientific lab equipment for use at the University Lab Partners biotech incubator facility in Irvine. The EDA grant, to be matched with $3…

EDA: $740,000 Invested to Support Natural Disaster Recovery and Resiliency Efforts in Wisconsin

Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $740,000 grant to the Mississippi River Regional Planning Commission (MRRPC) of La Crosse, Wisconsin, to support the creation of an economic recovery and resiliency plan to mitigate future flooding and storm-related impacts in the villages of Ontario, Readstown, Viola, and La Farge….

EDA: $7.4 Million Invested to Support Workforce Training and Emergency Management Efforts in Disaster-Impacted Areas of California

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $7.4 million in the state of California to support disaster-related workforce training and emergency management efforts. The EDA grants will be matched with $1.075 million in local investment. “Ensuring that communities have the trained workforce and adequate planning…

Federal Reserve: Gov. Brainard Gives Speech on Strengthening the CRA by Staying True to Its Core Purpose

By: Governor Lael Brainard At the Urban Institute, Washington, D.C. Good morning. I am pleased to be here at the Urban Institute to discuss how to strengthen the Community Reinvestment Act (CRA), which is a key priority for the Federal Reserve. The CRA plays a vital role in bringing banks together with community members, small…

FEMA: President Trump Signs Emergency Declaration for Puerto Rico

FEMA announced that federal emergency aid has been made available to the Commonwealth of Puerto Rico to supplement Commonwealth and local response efforts to the emergency conditions in the area affected by earthquakes beginning on Dec. 28, 2019, and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts which have the purpose…

HUD: 2019 Annual Homeless Assessment Report Released

Homelessness Increase in California Offsets Combined Decrease in All other States;Continued Declines Noted Among Veterans and Families with Children Today, the U.S. Department of Housing and Urban Development (HUD) released its 2019 Annual Homeless Assessment Report to Congress. The report certified last month by HUD Secretary Ben Carson, found that 567,715 persons experienced homelessness on a single night…

HUD: Improved Fair Housing Proposed Rule Issued

The U.S. Housing and Urban Development (HUD) today published its proposed Affirmatively Furthering Fair Housing (AFFH) rule, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community. Read HUD’s proposed rule. “HUD’s commitment to Fair Housing remains as steadfast as ever before, and this improved rule reaffirms our mission…

FDIC: List of Banks Examined for CRA Compliance Issued

The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in October 2019. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit…