CDFI Fund: FY 2016 Funding Round of BEA Program Opens
Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2016 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 February 24, 2017 publication of the…
CFPB: Using alternative data to evaluate creditworthiness
Without credit, it is nearly impossible to buy a home or start a business. People face barriers to accessing credit or have to pay more for credit for several reasons. Some people have negative items, such as a record of late payments, on their credit report. Other people have trouble documenting their income. Still others…
CFPB: Bureau Explores Impact of Alternative Data on Credit Access for Consumers Who Are Credit Invisible
CFPB Seeks Public Feedback on Benefits, Risks of Using Unconventional Sources to Extend Affordable Credit to Consumers Lacking Credit History WASHINGTON, D.C. – The Consumer Financial Protection Bureau today launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score….
ABA: 6 Ways to Use Your Tax Refund Wisely
Average U.S. taxpayer receives nearly $3,000 refund WASHINGTON — According to the Internal Revenue Service, the nation’s taxpayers received an average tax refund of nearly $3,000 in 2016 and will receive a similar amount this year. With more than 70 percent of tax payers receiving a refund this year, the American Bankers Association has highlighted…
HUD: New Residential Construction Activity in January Released
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the Census Bureau jointly announced the following new residential construction statistics for January 2017: BUILDING PERMITS Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,285,000. This is 4.6 percent (±2.0 percent) above the revised…
SBA: Linda McMahon Confirmed by Senate as SBA Administrator
WASHINGTON – The U.S. Senate confirmed on Tuesday President Donald Trump’s nomination of Linda E. McMahon as the 25th Administrator of the U.S. Small Business Administration. “Small businesses are the engine of our national economy,” McMahon said upon her confirmation. “I will work to revitalize a spirit of entrepreneurship in America. Small businesses want to…
FHFA: Refinance Volume Continued to Slow in Fourth Quarter
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today reported that 13,220 borrowers refinanced their mortgages through the Home Affordable Refinance Program (HARP) from October through December. FHFA’s fourth quarter Refinance Report also shows that total refinance volume fell in December, as mortgage interest rates increased. Total HARP refinances now stand at 3,447,671 since…
FDIC: Joins the Money Smart Alliance Program Made Easier
Printable Format: FIL-8-2017 – PDF (PDF Help) Summary: The FDIC’s Money Smart Alliance program is a network of financial institutions, nonprofits, and governmental organizations that use the FDIC’s financial education curriculum to provide training to consumers, small businesses, and others. Qualified organizations can join the alliance or renew their membership on the program’s recently enhanced website that also…
HUD: Disaster Assistance Announced for Louisiana Tornado Victims
WASHINGTON – U.S. Housing and Urban Development today announced HUD will speed federal disaster assistance to the State of Louisiana and provide support to homeowners and low-income renters forced from their homes due to severe storms, tornadoes, and straight-line winds. This week, President Trump issued a disaster declaration for Livingston and Orleans parishes. The President’s…
CDFI Fund: Registration Open for FY 2017 CDFI Program and NACA Program In-Person Application Workshops
Registration is now open to attend in-person application workshops for the fiscal year (FY) 2017 application round of the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The Community Development Financial Institutions Fund (CDFI Fund) is still tentatively planning to open the FY 2017 application round for the…