CFPB: Study Finds Consumers in Lower-Income Areas are More Likely to Become Credit Visible Due to Negative Records
Consumers In Higher-Income Areas More Likely Than Those in Lower-Income Areas to Establish Credit with a Credit Card or Co-Borrower WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a study on the transition to credit visibility that found that the way consumers establish credit history can differ greatly based on economic background….
Federal Reserve: Is The Rent Too High? Aggregate Implications of Local Land-Use Regulation
June 2017 Is the Rent Too High? Aggregate Implications of Local Land-Use Regulation (PDF) Devin Bunten Abstract: Highly productive U.S. cities are characterized by high housing prices, low housing stock growth, and restrictive land-use regulations (e.g., San Francisco). While new residents would benefit from housing stock growth in cities with highly productive firms, existing residents…
HUD: Trump Administration Proposes 2018 HUD Budget
WASHINGTON – The Trump Administration today announced the proposed 2018 Budget for the U.S. Department of Housing and Urban Development (HUD). The Budget reflects the President’s commitment to support HUD’s critical functions that provide rental assistance to low-income and vulnerable households and to help work-eligible families achieve self-sufficiency. The President’s 2018 Budget continues to provide…
Federal Reserve: Are Central Cities Poor and Non-White?
By: Jenny Schuetz, Arturo Gonzalez, Jeff Larrimore, Ellen A. Merry, and Barbara J. Robles1 In the U.S., geography has long been viewed as a proxy for income and race. The terms central city or “inner city” are often used as a short-hand for poor and minority neighborhoods, particularly African-American, while suburban dwellers are assumed to be…
HUD: Rental Assistance Demonstration Generates $4 Billion in Public-Private Investment in Distressed Public Housing
WASHINGTON – Each year, thousands of units of public housing are demolished and thousands more sit vacant because they are no longer decent, safe or sanitary. Today, the U.S. Department of Housing and Urban Development (HUD) announced that its Rental Assistance Demonstration officially surpassed $4 billion in capital investment in order to make critical repairs and improvements…
HUD: Grants Offered to Clean up Lead-Based Paint Hazards
WASHINGTON – The U.S. Department of Housing and Urban Development has announced that it is making grants available to help eliminate dangerous lead-based paint hazards from lower income homes in order to protect young children. Additionally, this funding will provide an opportunity for local communities to establish and support programs to control other housing-related health and…
HUD: $15 Million Announced to Test a New Approach to Help Low-Income Seniors Age in Place
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today awarded approximately $15 million to select owners of HUD-assisted senior housing developments to help their low-income senior tenants to age in their own homes and delay or avoid the need for nursing home care. HUD will cover costs related to hiring a full-time Enhanced…
CDFI Fund: U.S. Treasury Awards $185 Million for Community Development in Low-Income Communities
Funds Support CDFI Investment and Revitalization Activity in Distressed Urban, Rural and Native Communities Washington-The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 196 Community Development Financial Institutions (CDFIs) $185.7 million in grants and loans today. The awards, through the fiscal year (FY) 2016 rounds of the Community Development Financial…
CFPB: 30 New Your Money, Your Goals Partners to Help Low-Income Consumers Announced
We’re working to expand the reach of Your Money, Your Goals to more consumers, so we’ve selected 30 new organizations across the country to implement Your Money, Your Goalstraining with their frontline staff. These organizations include state and local government agencies, social services, legal aid, volunteer-based, and worker organizations, and a consortium of three consumer development financial institutions….