FHFA: Fannie Mae and Freddie Mac Duty to Serve Underserved Markets Plans for 2022-2024 Announced

The Federal Housing Finance Agency (FHFA) today published the 2022-2024 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) Program. The DTS Plans demonstrate a strengthened commitment to serving manufactured housing, affordable housing preservation, and rural housing. The targets and strategies in […]

CFPB: New Report Released on Financial Challenges Facing Rural Communities

Many rural communities are “banking deserts” Today the Consumer Financial Protection Bureau (CFPB) issued a report on the challenges faced by Americans in rural communities. The report highlights that many of these communities lack access to physical bank branches, are more likely to seek credit from nonbanks, and are heavily […]

HUD: Additional $3.3 Million in American Rescue Plan Funds Made Available to Fight Housing Discrimination Related to the Coronavirus Pandemic

The U.S. Department of Housing and Urban Development (HUD) announced on Tuesday that it is making an additional $3,285,353 in American Rescue Plan (ARP) funding available to help HUD’s Fair Housing Initiatives Program (FHIP) agencies combat housing discrimination related to the COVID-19 pandemic. Organizations that qualify for the funding, which […]

SBA: Pilot Program Targeting Access to Capital for Underserved Entrepreneurs Expanded

Vice President Kamala Harris Unveils Improvements to SBA Community Advantage Pilot Program at White House Event with SBA Administrator Isabella Guzman, Extending it to 2024, Ending New Lender Moratorium, and Lifting Loan Caps Today, Vice President Kamala Harris and Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s […]

OCC: Project REACh Efforts Launched in Detroit

Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch Detroit REACh. The Office of the Comptroller of the Currency (OCC) launched Project REACh, the Roundtable for Economic Access and Change, to bring together leaders from the banking industry, civil rights organizations, […]

SBA: Council on Underserved Communities Holds First Virtual Meeting

On Tuesday, 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, joined John W. Rogers, Jr., Chairman of the Council on Underserved Communities (CUC), to hold the first meeting of the reconvened council. “I’m excited for this kick-off as the […]

FHFA: 2022-2024 Single-Family and 2022 Multifamily Housing Goals for Fannie Mae and Freddie Mac Finalized

Today, the Federal Housing Finance Agency (FHFA) issued a final rule for Fannie Mae and Freddie Mac (the Enterprises) that establishes the benchmark levels for each of the single-family housing goals and subgoals for 2022 through 2024 and establishes the benchmark levels for the multifamily housing goals for 2022. The housing goals […]

OCC: Acting Comptroller Kicks Off DC REACh

Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, and bankers to launch DC REACh, thereby expanding the OCC’s Project REACh efforts to Washington, D.C. The OCC launched Project REACh, or Roundtable for Economic Access and Change, to bring together leaders from the banking industry, […]

SBA: Members of the Council on Underserved Communities Announced

John W. Rogers Jr. and 14 Distinguished Leaders Appointed to Reconvened CUC will develop policy recommendations for American Indian, Alaska Native, Native Hawaiian, and other underserved small business owners Today, U.S. Small Business Administrator Isabella Casillas Guzman announced the leaders who will serve on the reconvened Council on Underserved Communities (CUC) authorized […]