ABA: Consumer Delinquencies Mixed in Third Quarter of 2019
Consumer credit delinquencies were mixed in the third quarter of 2019, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories tracked by ABA…
HUD: Building HOME Online Training Series Launched
WASHINGTON – The U.S. Department of Housing and Urban Development today launched the new Building HOME online training series for the HOME Investment Partnerships (HOME) Program. Building HOME online training is an interactive, self-paced online training which guides grantees through 12 modules, providing a foundation of the regulatory requirements of the program and practical advice for implementing…
OCC: Request for Information Regarding CRA Proposed Rule
On January 9, 2020, the OCC and the Federal Deposit Insurance Corporation (the agencies) published a notice of proposed rulemaking that would amend their regulations implementing the Community Reinvestment Act (CRA). The OCC seeks public input with this request for information to assist in determining how the proposed rule might be revised to ensure that…
FEMA: Additional Counties Eligible for Public Assistance Funding in Mississippi
Chickasaw, Choctaw, and Oktibbeha counties are now eligible to apply for funding under FEMA’s Public Assistance Program to supplement state and local recovery efforts in areas that sustained damage from severe storms, straight-line winds, and flooding that occurred Oct. 26, 2019. The president’s Dec. 6, 2019 major disaster declaration for Mississippi included Alcorn, Covington, Itawamba,…
CFPB: No-Action Letter Issued to Facilitate Housing Counseling Services for Prospective Home Buyers
The Consumer Financial Protection Bureau (Bureau) granted a no-action letter (NAL) to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies (HCAs) certified by the U.S. Department of Housing and Urban Development (HUD). NALs provide increased regulatory certainty through a statement that the Bureau will not bring a supervisory or enforcement…
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…