CFPB: New Final Rule Issued with Credit Reporting Protections to Aid Survivors of Human Trafficking

CFPB Helps Survivors Mitigate the Financial Consequences of Human Trafficking Today, the Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to […]

CDFI Fund: Apply Now for the Brand New CDFI Equitable Recovery Program

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2022 funding round for the CDFI Equitable Recovery Program (CDFI ERP) today. The program will provide approximately $1.73 billion in awards, which was included in the Consolidated Appropriations Act, 2021 (Pub. L. […]

FDIC: Advisory Committee on Economic Inclusion to Meet Tuesday, June 28th

Five New Members also Announced The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Tuesday, June 28, to discuss the Notice of Proposed Rulemaking to modernize the Community Reinvestment Act, and issues of equity in residential property valuation and appraisal. The committee members will […]

FHFA: Equitable Housing Finance Plans for Fannie Mae and Freddie Mac Announced

The Federal Housing Finance Agency (FHFA) today announced the release of Fannie Mae’s and Freddie Mac’s (the Enterprises) Equitable Housing Finance Plans for 2022-2024. These plans are designed to complement the initiatives outlined in FHFA’s Strategic Plan: Fiscal Years 2022–2026 that promote the Enterprises’ safety and soundness and foster housing finance markets […]

HUD: 20th Anniversary of National Homeownership Month Commemorated

President Biden issues Proclamation marking June as National Homeownership Month The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) mark June as National Homeownership Month following President Biden’s proclamation issued on Tuesday. This year’s Homeownership Month celebrates the 20th year of this opportunity to amplify […]

FEMA: Grants Awarded to Advance Equity and Provide Direct Support to Underserved Communities to Invest in Disaster Resilience

Agency Announces First Selections Awarded for Two Mitigation Grant Programs  FEMA is expediting mitigation grant selections and assistance to help states, local communities, tribes and territories enhance disaster resiliency sooner. The awards totaling $91.2 million are the first round of selected projects for the fiscal year 2021 Building Resilient Infrastructure and […]

SBA: Five New Women’s Business Centers Announced and to be Operated by Minority Serving Institutions

The latest SBA investment triples the number of Women’s Business Centers at HBCUs in support of women entrepreneurs Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced the selection of five new Women’s Business Centers (WBC) […]

OCC: Acting Comptroller Presents Bank Charter to Minority Depository Institution, Agility Bank, N.A. in Houston

Acting Comptroller of the Currency Michael J. Hsu today presented a full-service community national bank charter to Agility Bank, N.A. in Houston. The woman-owned and -led bank is the first new minority depository institution (MDI) national bank in 15 years. Typically, MDIs serve economically challenged communities traditionally underserved by the […]

FDIC: New Process Established for Minority Depository Institution Designation Announced

On June 15, 2021, the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved an updated Statement of Policy Regarding Minority Depository Institutions (Policy Statement), which details the framework by which the FDIC implements the goals set forth in Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 […]

FDIC: Hawaiian Banker Named to Minority Depository Institutions Subcommittee

The Federal Deposit Insurance Corporation (FDIC) today announced Russell Lau, the Chairman and Chief Executive Officer of Finance Factors, Ltd in Honolulu, is the newest member of the agency’s Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking. The FDIC’s MDI Subcommittee serves as a source of […]