CDFI Fund: U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and the Federal Housing Finance Agency (FHFA) announced the establishment of a Working Group to increase capital for affordable housing lending from the Federal Home Loan Banks. The group will advance the Biden-Harris Administration’s priority of expanding the supply of affordable…
FHFA: Agency Simplifies Process for Nonprofits and Other Project Applicants to Receive FHLB Funding for Affordable Housing
The Federal Housing Finance Agency released an Advisory Bulletin responding to concerns from affordable housing sponsors that procedures for obtaining subsidies from the Federal Home Loan Banks are too burdensome The Federal Housing Finance Agency (FHFA) today issued an Advisory Bulletin (AB) that simplifies the process for project sponsors to receive Federal Home Loan Bank…
CFPB: CMS and CFPB Take Action to Stop Illegal Billing of Lowest-Income Medicare Recipients Living at or below the Poverty Line
New statement warns healthcare providers, Medicare Advantage plans, and debt collectors about improper billing and collections Today, the Consumer Financial Protection Bureau (CFPB) and the Centers for Medicare & Medicaid Services (CMS) issued a joint statement to protect millions of people with Medicare living at or below the poverty line from unlawful medical bills. These people in…
FEMA: President Biden Approves Major Disaster Declaration for the U.S. Virgin Islands
FEMA announced that federal disaster assistance is available to the territory of the U.S. Virgin Islands to supplement recovery efforts in the areas affected by Tropical Storm Ernesto on Aug. 13-16, 2024. Federal funding is available to territory and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the…
HUD: $72 Million Announced to Help End Youth Homelessness in America
Funding will support actions to end youth homelessness by expanding housing opportunities supportive services in 11 states Today, the U.S. Department of Housing and Urban Development (HUD) announced $72 million to fund youth homelessness housing across 14 communities, including five rural communities. This funding, through HUD’s Youth Homelessness Demonstration Program (YHDP), will support various housing…
HUD: $12 Million Announced to Lower Housing Costs and Expand Access to Affordable Homeownership
Funding will allow local organizations to develop affordable housing and create homeownership opportunities for low-income Americans Today, the U.S. Department of Housing and Urban Development (HUD) announced the availability of $12 million to expand access to affordable housing and homeownership opportunities for Americans in rural and urban communities across the country. Grant funding awarded to…
FHFA: House Price Index Up 0.3 Percent in August 2024; Up 4.2 Percent from Last Year
U.S. house prices rose 0.3 percent in August, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 4.2 percent from August 2023 to August 2024. The previously reported 0.1 percent price increase in July was revised upward to 0.2 percent. For the nine census divisions, seasonally adjusted monthly price changes…
ABA: New National Consumer Polling Data on Major Bank Policy Issues Unveiled
Strong majorities value credit cards and overdraft protection, oppose lowering debit interchange fees, and support cannabis banking A new survey conducted by Morning Consult on behalf of the American Bankers Association found that a strong majority of U.S. consumers are happy with their credit cards and do not want the government to interfere with their…
ABA: Board and Officers Elected for 2024–2025
Members attending the American Bankers Association’s annual convention in New York City have elected new ABA officers and directors to serve on ABA’s board for the 2024-2025 association year. The new officers are: CHAIR: John C. Asbury, chief executive officer, Atlantic Union Bancshares Corp., Richmond, Va.; CHAIR-ELECT: Kenneth Kelly, chairman and CEO, First Independence Bank, Detroit; VICE…
ABA: Atlantic Union Bank CEO John C. Asbury Elected as New ABA Chair
The American Bankers Association today elected John C. Asbury as its chair for the 2024 – 2025 association year at ABA’s annual convention held in New York City. Asbury is the president and CEO of Atlantic Union Bankshares and CEO of Atlantic Union Bank, a Richmond, Va.-based bank with 109 branches in Virginia, Maryland and…