FDIC: Four Institutions Recognized for Financial Literacy
Organizations honored during America Saves Week As America Saves Week approaches, the Federal Deposit Insurance Corporation (FDIC) today is recognizing four institutions for their work to expand financial education and support healthy banking relationships. Read more: Money Smart News – Winter 2020. America Saves Week, which runs from February 24–29, is an annual ‘call to action’ to encourage…
EDA: $5.6 Million Invested to Provide Critical Infrastructure Needed to Prevent Flooding in Williamsport, PA Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $5.6 million grant to Lycoming County, Pennsylvania to prevent flooding by repairing a structurally unsound I-wall located within the Northeast levee in Williamsport. The EDA grant, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will…
EDA: $1.8 Million Invested to Establish Revolving Loan Fund to Assist Businesses in Disaster-Impacted Northern California
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to 3CORE, Inc. of Chico, California, to establish a Revolving Loan Fund (RLF) to create stronger and more economically resilient communities in wildfire-impacted Butte, Glenn, and Tehama counties. The EDA grant, to be matched…
ABA: 6 Ways to Make the Most of Your Tax Refund
Last year, more than 100 million Americans received an average tax refund of $2,869 deposited back in their bank accounts after filing their taxes. To kick off America Saves Week this year, the American Bankers Association is encouraging consumers to file their taxes as early as possible and offering specific tips to help taxpayers make…
Federal Banking Agencies to Host the 2020 National Interagency Community Reinvestment Conference in Denver, CO
The 2020 National Interagency Community Reinvestment Conference takes place in Denver from March 9 to 12. The conference is hosted by the three federal banking agencies, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, and the Federal Reserve Banks of…
FHFA: CFPB and FHFA Release Additional Data from the National Survey of Mortgage Originations for Public Use
Details Borrower’s Experiences Obtaining a Mortgage The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) today released additional loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data provide insights into borrowers’ experiences in getting a residential mortgage. The NSMO is a component of the National Mortgage…
CDFI Fund: FY 2020 CDFI Program and NACA Program Round Open for Applications
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing…
FDIC & OCC: 30-day Extension of Comment Period for Proposed Changes to CRA Regulations Announced
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the regulations implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA…
FEMA: Public Assistance Approved for Eight More Puerto Rico Municipalities
Fourteen municipalities are now eligible to be reimbursed by the federal government for debris removal and for emergency protective measures that were triggered by the 6.4 earthquake on Jan. 7. The municipalities of Adjuntas, Jayuya, Juana Díaz, Lajas, Las Marías, Mayagüez, Sabana Grande and Utuado were added Friday to the original six municipalities which were designated in the presidential…
EDA: Over $700,000 Invested to Support Tribal Disaster Recovery Efforts in Wisconsin
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $709,222 grant to the Bad River Band of Lake Superior Tribe of Chippewa Indians in Odanah, Wisconsin, to hire an Economic Recovery Coordinator to advance disaster recovery efforts in the region. The project is located near a Tax Cuts and Jobs Act designated Opportunity Zone….