EDA: $3 Million in CARES Act Recovery Assistance to Capitalize Revolving Loan Fund to Serve Small Businesses in 17-County Region of Kentucky
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to Community Ventures Corporation, Lexington, Kentucky, to provide critical gap financing to small businesses economically impacted by the coronavirus pandemic in the Bluegrass Region of Kentucky. This EDA grant will…
EDA: $2 Million in CARES Act Recovery Assistance Invested to Establish Revolving Loan Fund to Assist Small Businesses in Berwyn, IL
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million CARES Act Recovery Assistance grant to the Berwyn Development Corporation, Berwyn, Illinois, to capitalize a Revolving Loan Fund that will provide critical gap financing to small businesses in the Chicago suburb. This EDA grant, to…
EDA: $1.8 Million in CARES Act Recovery Assistance Invested to Capitalize Revolving Loan Fund to Serve Businesses in Yellowstone County, MT
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million CARES Act Recovery Assistance grant to Big Sky Economic Development Corporation, Billings, Montana, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to businesses adversely affected by the coronavirus…
EDA: $1.7 Million in CARES Act Recovery Assistance to Capitalize Revolving Loan Fund to Serve Businesses in Northern Montana
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million CARES Act Recovery Assistance grant to Bear Paw Development Corporation of Northern Montana, Havre, Montana, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to coronavirus-impacted small businesses in…
CFPB: Delay of Effective Date for Recent Debt Collection Rules Proposed
The Consumer Financial Protection Bureau today proposed extending the effective date of two recent debt collection rules to give affected parties more time to comply due to the ongoing COVID-19 pandemic. The CFPB issued a Notice of Proposed Rulemaking (NPRM) to delay by 60 days the effective date of two final rules issued under the…
CFPB: Mortgage Servicing Changes Proposed to Prevent Wave of COVID-19 Foreclosures
Millions of homeowners expected to exit forbearance in the coming months The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire. Due to the COVID-19 pandemic and ensuing economic crisis, millions of families nationwide have suffered the loss of…
CFPB: New Compliance Bulletin Warns Mortgage Servicers: Unprepared is Unacceptable
Servicers Should Gear Up for Expected Surge in Homeowners Needing Assistance The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. Millions of homeowners currently in forbearance will need help from their servicers when the pandemic-related federal emergency mortgage protections…
CFPB: Series of Policy Statements Rescinded to Ensure Industry Complies with Consumer Protection Laws
The Consumer Financial Protection Bureau (CFPB) today announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards. The seven rescissions, effective April 1, provide guidance to financial institutions on complying with their legal and regulatory…
CFPB: 2020 HMDA Data on Mortgage Lending Now Available
Today, the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2020 were published on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,400 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect privacy. “HMDA data can help determine whether financial institutions are serving…
CDFI Fund: Pre-Application Webinar for FY 2021 Small Dollar Loan Program Round Scheduled for April 13th
The Community Development Financial Institutions Fund (CDFI Fund) staff will hold an informational pre-application webinar for the Small Dollar Loan Program on Tuesday, April 13, 2021. Topics covered will include setting up your critical SAM.gov and Grants.gov accounts, adjusting your organizational profile in the Awards Management Information System (AMIS), and other ways your organization can prepare…