SBA: Over $1 Million Invested to Expand Support for Veteran Entrepreneurs
Organizations to Provide Critical Training and Counseling for Startups and Existing Small Businesses Today, the U.S. Small Business Administration (SBA) announced over $1 million in new funding to provide critical training and counseling to aspiring and existing veteran small business owners as a Veterans Business Outreach Center (VBOC). The new funding opportunity will make awards of up to $400,000 to…
HUD: $10 Million Awarded to Public Housing Agencies to Protect Residents
Grants provided through Capital Fund Emergency Safety and Security Program will support crime prevention, smoke detectors, fire alarms and other security measures. To help keep residents safe in their homes, today, the U.S. Department of Housing and Urban Development (HUD) announced that it will award $10 million to 65 Public Housing Agencies (PHAs) in 32…
FDIC: Final Revised Rule Approved to Strengthen Resolution Planning for Large Banks
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to strengthen resolution planning for insured depository institutions (IDIs) with at least $50 billion in total assets. After careful consideration of comments received, the FDIC issued a final rule that incorporates several changes from the agency’s proposed rule published in September…
FHFA: Input Requested on Application Process for Federal Home Loan Bank Affordable Housing Program
The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on opportunities to improve the Federal Home Loan Banks’ (FHLBanks) processes for members and project sponsors to apply for Affordable Housing Program (AHP) funding. “FHFA’s efforts to streamline the AHP application process should improve the FHLBanks’ ability to provide much needed funding…
OCC: Final Rule on Automated Valuation Models Approved
The Office of the Comptroller of the Currency today approved a final rule to implement quality control standards for automated valuation models used by mortgage originators and secondary market issuers in valuing residential real estate collateral securing mortgage loans. The rulemaking supports Acting Comptroller of the Currency Michael J. Hsu’s priority to reduce inequality and…
CDFI Fund: Submission Deadlines Extended for Revised CDFI Certification Application
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has extended the application deadlines for when currently Certified Community Development Financial Institutions (CDFIs) must reapply for CDFI Certification using the revised version of the CDFI Certification Application. In December 2023, the CDFI Fund released the final revised CDFI Certification Application. Non-certified organizations that wish…
ABA: Foundation Launches “Unlocking Homeownership” Education Campaign
The ABA Foundation today launched a new campaign, Unlocking Homeownership, which seeks to respond to the nation’s housing challenges by making it even easier for banks of all sizes to promote homeownership education and counseling. The campaign is part of the ABA Foundation’s celebration of June as American Housing Month. In partnership with NeighborWorks®America and Rebuilding…
FEMA: President Biden Approves Major Disaster Declaration for New Mexico
FEMA announced that federal disaster assistance is available to the state of New Mexico to supplement recovery efforts in the areas affected by the South Fork Fire and Salt Fire beginning on June 17, 2024 and continuing. The President’s action makes federal funding available to affected individuals in the Mescalero Apache Tribe and Lincoln County. Assistance…
FEMA: President Biden Approves Major Disaster Declaration for Florida
FEMA announced that federal disaster assistance is available to the state of Florida to supplement recovery efforts in the areas affected by the severe storms, straight-line winds and tornadoes on May 10, 2024. The President’s action makes federal funding available to affected individuals in Leon County. Assistance can include grants for temporary housing and home…
FEMA: President Biden Approves Major Disaster Declaration for Hawaii
FEMA announced that federal disaster assistance is available to the state of Hawaii to supplement recovery efforts in the areas affected by the severe storms, flooding and landslides from April 11-14, 2024. Public assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency…