EDA: $1.2 Million Invested to Aid Redevelopment of Historic Rail Yards in Albuquerque, NM
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to the city of Albuquerque, New Mexico, to provide infrastructure improvements needed to aid the redevelopment of the city’s historic Rail Yards. The EDA grant, to be located near two Tax Cuts and Jobs Act designated Opportunity…
EDA: $2 Million Invested to Support Business Incubation and Workforce Training Efforts in Billings, MT Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to Big Sky Economic Development Authority of Billings, Montana, to renovate an existing building to house the Rock 31 Connect Build Grow business incubator. The EDA grant, to be located in a Tax Cuts and…
EDA: $1.6 Million Invested to Establish Business Revolving Loan Fund in Youngstown, OH
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the Mahoning Valley Economic Development Corporation (MVEDC) of Youngstown, Ohio, to establish a new Revolving Loan Fund (RLF) in support of small businesses and entrepreneurs. The EDA grant, to be located near a Tax…
CFPB: Federal Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting
Five Federal financial regulatory agencies today issued a joint statement on the use of alternative data in underwriting by banks, credit unions, and non-bank financial firms. The statement from the Federal Reserve Board (Federal Reserve), the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency…
FHFA: Report Released on Non-Performing Loan Sales through June 2019
The Federal Housing Finance Agency (FHFA) today released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through June 30,2019 and reflects borrower outcomes on NPLs sold through December 31, 2018 and reported through June 30, 2019. …
FDIC: CRA Examination Schedules for First and Second Quarter 2020 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first and second quarter 2020. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The Community…
HUD: Request Issued for Information on Eliminating Regulatory Barriers to Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) today published a Request for Information (RFI) seeking public comment on Federal, State, local, and Tribal laws, regulations, land use requirements, and administrative practices that artificially raise the costs of affordable housing development and contribute to shortages in America’s housing supply. This RFI is a request…
SBA: Final Rule Issued to Expand HUBZone Opportunities to Small Businesses and Revitalize Communities
The U.S. Small Business Administration today issued a final rule that will implement changes to the Historically Underutilized Business Zone (HUBZone) program that will make the program more attractive to small businesses and encourage them to invest in HUBZone communities and hire HUBZone residents. The new rule changes will also make it easier for federal contracting officers to identify…
SBA: Celebrating Small Business Saturday in Communities across America
U.S. Small Business Administration Acting Administrator Chris Pilkerton is encouraging Americans to support local communities by shopping at small businesses on Saturday, November 30. Celebrated each year on the Saturday after Thanksgiving, Small Business Saturday allows consumers to make a tremendous impact in their neighborhoods by supporting local small businesses. Last year, an estimated 104 million…