HUD: Council on Foundations and HUD Announce Winners of 2022 Secretary’s Award for Public-Philanthropic Partnerships
This week, the U.S. Department of Housing and Urban Development (HUD) and the Council on Foundations (COF) announced the winners of the 2022 Secretary’s Award for Public-Philanthropic Partnerships.The Secretary’s Award for Public-Philanthropic Partnerships recognizes excellence in partnerships that have both transformed the relationships between the public and philanthropic sectors and led to measurable benefits in…
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 credit reporting companies that identifies…
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. 116-260), to Certified Community Development…
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 also discuss key challenges facing…
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 that provide equitable access to…
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 the benefits of homeownership and…
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 Communities (BRIC) and Flood Mitigation Assistance (FMA) grant…
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) operated by established Minority Serving…
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 banking industry and other businesses….
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 (FIRREA). The Policy Statementdescribes the FDIC’s…