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…
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 the Plans build on lessons…
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 affected by medical bills. The…
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 is being awarded through FHIP’s…
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 32.5 million small businesses in…
OCC: Acting Comptroller Launches Project REACh Efforts in Dallas
Acting Comptroller of the Currency Michael J. Hsu today joined civic leaders, community advocates, bankers, and business leaders to launch Dallas 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, business, and technology…
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, business, and technology to identify…
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 CUC and its important mission…
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 ensure that the Enterprises, through…
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, civil rights organizations, business, and…