CRA Newswire

HUD: “Worst Case Housing Needs” Increased in 2015

8.3 million households paid more than half their income for rent or lived in substandard housing WASHINGTON – The number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015, according to a new report released today by the U.S….

FHFA: Deputy Director of Division of Federal Home Loan Bank Regulation Announced

Washington, D.C. – Federal Housing Finance Agency (FHFA) Director Melvin L. Watt today announced the appointment of Andre D. Galeano to the position of Deputy Director of the Division of Federal Home Loan Bank Regulation. Galeano will oversee the regulation and supervision of the 11 Federal Home Loan Banks (FHLBanks). Galeano succeeds Fred Graham, who announced…

CDFI Fund: Update for Capital Magnet Fund Applicants | AMIS Application Now Available

The Application for the fiscal year (FY) 2017 round of the Capital Magnet Fund is now available in the Community Development Financial Institutions Fund’s (CDFI Fund) Awards Management Information System (AMIS). In order to be able to complete their FY 2017 Application in AMIS, applicants must have submitted a valid SF-424 through Grants.gov by July…

CDFI Fund: Application Demand for 2017 Round of NMTC Program Released

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 230 applications under the 2017 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program encourages economic development in low-income and distressed communities by making tax credit allocations available to Community…

FHFA: Results Announced of Fannie Mae and Freddie Mac Stress Tests

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress testsFannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).  The Dodd-Frank Act requires certain financial institutions with more than $10 billion…

FDIC: List of Banks Examined for CRA Compliance Issued

The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2017. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit…

CFPB: Prototypes Unveiled of New “Know Before You Owe” Overdraft Disclosure

New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled new Know Before You Owe overdraft disclosure prototypes designed to improve the model form that banks and credit unions already provide to consumers weighing overdraft coverage. The Bureau is currently…

Federal Reserve: Now Available | Harvesting Opportunity: The Power of Regional Food Systems Investments to Transform Communities

We are pleased to announce the publication of Harvesting Opportunity: The Power of Regional Food System Investments to Transform Communities. The book, released by the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of St. Louis and the U.S. Department of Agriculture’s agencies of Rural Development and the Agricultural Marketing Service,…

HUD: $38 Million Available to Fight Housing Discrimination

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today it is making $38 million available to fight housing discrimination through the Department’s Fair Housing Initiatives Program (FHIP). The grants offered through three FHIP funding notices will support a variety of critical fair housing activities, including fair housing testing in the rental and…

SBA: White House Hosts Small Business Owners During American Dream Week

WASHINGTON – More than 100 small business owners from around the country voiced concerns about taxes, regulations and the need for a skilled workforce at a forum hosted by President Trump at the White House on Tuesday. “America is on the verge of a golden age for small business,” Trump said. “We are ending job-killing…