ABA: Statement on OCC’s CRA Final Rule
“The modernization of CRA’s outdated rules is long overdue, and we are very grateful to Comptroller Otting and the OCC staff for their commitment to this important effort. Stakeholders on all sides have acknowledged that the current CRA regime has failed to keep pace with the evolution of banking and community needs. We appreciate that…
Census Bureau: ABS Release Provides Data on Minority- and Women-Owned Businesses
The U.S. Census Bureau today released new estimates showing 1.1 million employer firms were owned by women and 1.0 million by minorities. According to the 2018 Annual Business Survey (ABS), covering year 2017, 5.6% (322,076) of all U.S. businesses were Hispanic-owned and 6.1% (351,237) were owned by veterans. Additional statistics released include: In 2017, the sector with…
Census Bureau: New Report on Housing Readiness for Aging Population Released
The U.S. Census Bureau has released a new population report on the readiness of housing to meet the needs of the nation’s aging population. The report – Old Housing, New Needs: Is America’s Housing Ready for an Aging Population? – uses data from the 2011 American Housing Survey (AHS) to provide national-level estimates of housing units with aging-accessible features,…
HUD and Census Bureau: Residential Construction Activity Report for April 2020
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for April 2020. Building Permits Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,074,000. This is 20.8 percent (±0.9 percent) below the revised…
FHFA: Refinance and Home Purchase Eligiblity for Borrowers in Forbearance Announced
Agency also extends the Enterprises’ ability to buy loans in forbearance Today, to support borrowers and mortgage servicers, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance…
EDA: $2.5 Million Invested to Support Manufacturing Workforce Training Opportunities in St. Cloud, MN
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.5 million grant to St. Cloud Technical & Community College, St. Cloud, Minnesota, to build a new Advanced Manufacturing Training Lab. The lab will provide the necessary training to workers to meet the demand of regional manufacturers….
EDA: $2 Million Invested to Construct Resilient Water Infrastructure and Support Manufacturing in South Carolina
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Powdersville Water District in Easley, South Carolina, to make water infrastructure improvements needed to serve a major advanced manufacturing exporter of power tools and other businesses in the region. The EDA grant,…
HUD: More than $75 Million in Fourth Wave of CAREs Act Funding Allocated to Assist People Living with Disabilities
Fourth wave of relief funds provides additional housing choice vouchers to public housing authorities Today, the U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced nearly $77 million in a fourth wave of CARES Act funding, supporting up to 8,300 additional vouchers. Provided through HUD’s Section 811 Mainstream Housing Choice Voucher Program, this…
EDA: $562,000 Invested to Install New Boat Moorings to Boost U.S. Virgin Islands Tourism Industry
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $562,000 grant to the Virgin Islands Professional Charter Association of Saint Thomas, U.S.V.I., to support the tourism sector by installing moorings in the bays of the U.S. Virgin Islands as part of the recovery effort following Hurricanes Irma and Maria. The EDA…
EDA: $800,000 Invested to Establish Revolving Loan Fund to Serve Small Businesses in Seven Disaster-Impacted South Dakota Counties
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $800,000 grant to the West River Foundation for Economic and Community Development in Sturgis, South Dakota, to establish a Revolving Loan Fund (RLF) to assist small businesses impacted by natural disasters in Bennett, Butte, Custer, Fall River, Meade, Pennington, and Perkins counties….