ABA: Report Shows Credit Card Market Expanded in Fourth Quarter 2018
Credit card use continued to expand in the fourth quarter of 2018, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Compared to the previous quarter, purchase volumes increased for super-prime (+2.7 percent) and prime accounts (+1.4 percent), but declined modestly for subprime accounts (-0.9 percent). On an annual basis, purchase volumes…
FEMA: President Trump Approves Major Disaster Declaration for Sac & Fox Tribe of the Mississippi in Iowa
FEMA announced that federal disaster assistance has been made available to the Sac & Fox Tribe of the Mississippi in Iowa to supplement the Tribe’s efforts in the areas affected by severe storms and flooding from March 13 – April 1. Federal funding is also available to the Sac & Fox Tribe of the Mississippi…
HUD: National Association of Home Builders to Co-Host HUD Innovative Housing Showcase
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced the National Association of Home Builders (NAHB) will co-host the Department’s inaugural “Innovative Housing Showcase.” The Innovative Housing Showcase will be held on the National Mall June 1-5, 2019, to educate policy makers and the broader public on the new housing innovations…
CDFI Fund: FY 2019 Funding Round of BEA Program Now Open
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2019 application round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s website in anticipation of the publication of the FY 2019 Notice of Funds…
FHFA: New Report Details Progress on the 2018 Scorecard for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) issued a Scorecard Progress Report today summarizing the 2018 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. Interested parties are invited to provide input on this Report. Feedback can be submitted via FHFA.gov, or to the…
EDA: $1.6 Million Invested to Protect Manufacturers from Future Flood Events in Harrison, AK
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 city of Harrison, Arkansas, to limit the impact of future flood events on local manufacturing facilities by widening Goblin Drive. According to grantee estimates, the project is expected to create 150 jobs,…
EDA: $1.6 Million Invested to Support Critical Infrastructure Improvements in Brunson, SC
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 Lowcountry Regional Water System in South Carolina, to help rehabilitate the Town of Brunson’s sewer system. The grant will be matched with $726,000 in local funds. “Antiquated infrastructure has stunted economic growth in…
EDA: Investment Made to Help Protect Businesses from Flooding in Lake City, SC
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing in critical water infrastructure upgrades needed to protect local businesses from future flood events in Lake City, South Carolina, an investment which will be matched with $449,632 in local funds. This investment will support a Tax Cuts and…
CDFI Fund: Reminders and Updates for FY 2019 CDFI Program and NACA Program Round Applicants
As a reminder for fiscal year (FY) 2019 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) applicants, the deadline for online submission of the SF-424 through Grants.gov for this year’s CDFI Program and NACA Program funding rounds is May 3, 2019 at 11:59 p.m. ET. The deadline for online submission…
FEMA: President Trump Approves Major Disaster Declaration for Mississippi
FEMA announced that federal disaster assistance has been made available to the state of Mississippi to supplement state and local recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes and flooding from Feb. 22 – March 29, 2019. Federal funding is available to the state and eligible local governments and certain private…