SBA: New York Director Announces Small Business Week Awardees
New York – The results are in. Businesses from across the New York SBA District – the five boroughs of New York City, Long Island, and seven down-state counties of the Mid and Lower Hudson – submitted applications to the 2017 National Small Business Week Awards. Judges selected nine winners in various categories, ranging from…
OCC: Newsletter Focuses on Innovative Partnerships to Preserve Affordable Housing
WASHINGTON — The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Development Investments newsletter entitled “Preserving Affordable Housing: Innovative Partnerships.” This issue describes the role of national banks and federal savings associations in preserving America’s affordable rental housing and presents examples of how financial institutions and nonprofit organizations…
ABA: Survey Shows Regulatory Burden Continues to Restrict Mortgage Lending
WASHINGTON — Ninety-five percent of respondents to the American Bankers Association’s 24th annual Real Estate Lending Surveydescribed regulation as having a negative impact on business production and consumer credit availability. The survey, released today at ABA’s Real Estate Lending Conference in Orlando, revealed that 91 percent of the typical bank’s mortgage loans made last year…
ABA: Foundation Celebrates April as Financial Literacy Month
WASHINGTON — Eighty-eight percent of adults overwhelmingly agree that personal finance skills should be taught in schools, according to a new survey from Morning Consult. Despite such strong support, as of 2016, only 17 states require high school students to take a course in personal finance. In an effort to fill that gap, the ABA…
FHFA: Report Details Progress on the 2016 Scorecard for Fannie Mae and Freddie Mac
Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2016 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. The Progress Report details efforts made to address borrower impediments to credit access while transitioning from crisis…
FHFA: Index Shows Mortgage Rates Increased in February
Washington, D.C. – Nationally, interest rates on conventional purchase-money mortgages increased from January to February, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.27 percent for loans closed in late February, up 5 basis points from 4.22…
FDIC: FIL-13-2017 | FDIC Releases Report on Its Youth Savings Pilot and Launches New Network to Support Youth Savings Collaborations
Printable Format: FIL-13-2017 – PDF (PDF Help) Summary: The FDIC released a report on its Youth Savings Pilot program, which identifies promising approaches to combining financial education with the opening of safe, low-cost savings accounts for school-aged children. The report from the FDIC’s two-year Youth Savings Pilot is based on the experiences of 21 diverse…
FDIC: Report Released on FDIC Youth Savings Pilot Program
The Federal Deposit Insurance Corporation (FDIC) today released a report on its Youth Savings Pilot program at a meeting of its Community Banking Advisory Committee. The pilot program identifies promising approaches to combining financial education with the opening of safe, low-cost savings accounts for school-aged children. Financial education and school-based savings programs introduce young people…
SBA: Funding Awarded to Organizations Offering Entrepreneurship Training to Women Veterans and Military Spouses
WASHINGTON – The U.S. Small Business Administration this week announced the awarding of $300,000 in Women Veteran Entrepreneurship Training Program grants to three organizations offering small business development resources to women veterans and military spouses. The funding opportunity, offered by SBA’s Office of Veterans Business Development, supports each organization’s entrepreneurial training programs for women who are…