OCC: FFIEC’s 2021 “A Guide to HMDA Reporting: Getting It Right!” Issued
Summary The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!”, which is designed to help banks comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR 1003). The…
FHFA: House Price Index Up 1.0 Percent in January; Up 12.0 Percent from Last Year
House prices rose nationwide in January, up 1.0 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 12.0 percent from January 2020 to January 2021. The previously reported 1.1 percent price change for December 2020 was revised upward to 1.2 percent. For the nine census divisions, seasonally…
CFPB: FTC and CFPB Issue Joint Statement on Preventing Illegal Evictions
Consumer Financial Protection Bureau Acting Director Dave Uejio and Federal Trade Commission Acting Chairwoman Rebecca Slaughter issued a joint statement regarding their agencies’ work to help stop illegal evictions and protect American consumers facing economic hardship due to COVID-19. CFPB Acting Director Dave Uejio and FTC Acting Chairwoman Rebecca Slaughter:“Staff at both agencies will be…
Agencies Seek Wide Range of Views on Financial Institutions’ Use of Artificial Intelligence
Five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI). The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations. The Federal Reserve Board, the Consumer Financial Protection Bureau (CFPB), the…
CDFI Fund: Public Data for NMTC Program for FYs 2003-2019 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released transaction level data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2019. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an annual report detailing…
FEMA: President Biden Announces Major Disaster Declaration for the Poarch Band of Creek Indians
FEMA announced that federal disaster assistance has been made available to the Poarch Band of Creek Indians to supplement the tribe’s efforts in the areas affected by the COVID-19 pandemic beginning on Jan. 20, 2020, and continuing. The President’s action makes federal funding available for crisis counseling for the Poarch Band of Creek Indians. Federal…
HUD: Report on Youth Homelessness Underscores Importance of American Rescue Plan
The U.S. Department of Housing and Urban Development (HUD) today released a report on coordinated community approaches to preventing and ending youth homelessness. The report, “Evaluation of the HUD Youth Homelessness Demonstration Program: Early Implementation Report,” underscores the importance of the American Rescue Plan to addressing homelessness, including for youth. The report found that funding…
OCC: Report Shows Decline in Mortgage Performance for Fourth Quarter 2020
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the fourth quarter of 2020. The OCC Mortgage Metrics Report, Fourth Quarter 2020 showed that 93.3 percent of mortgages included in the report were current and performing at the end of the quarter, compared…
ABA: New York Teen Named Grand Prize Winner of National “Lights, Camera, Save!” Video Contest
Leonardo Cross, an 18-year-old student at High School of Art and Design in New York is the national winner of the American Bankers Association Foundation’s Lights, Camera, Save! video contest. Lights, Camera, Save!, which launched in 2010, is a unique national competition that encourages teens ages 13 to 18 to use video to communicate the…
Census Bureau: New Report Examines Homeownership in the United States from 2005 to 2019
The U.S. Census Bureau today released a new report that examines trends in homeownership over the last 15 years. The report, Homeownership in the United States: 2005 to 2019, is based on statistics from the American Community Survey (ACS). The report presents trends in homeownership at the national, state and county levels. For the first time ever, these…