Federal Reserve: Chairs and Deputy Chairs of the 12 Federal Reserve Banks Announced for 2025
The Federal Reserve Board on Monday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2025. Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as Chair and a…
CFPB: New Study Reveals Heavy Buy Now, Pay Later Use Among Borrowers with High Credit Balances and Multiple Pay-in-Four Loans
More than 60 percent of users had simultaneous loans, borrowers held higher balances on other credit lines, and most loans went to consumers with subprime or lower credit scores Today, the Consumer Financial Protection Bureau (CFPB) released a study of Buy Now, Pay Later (BNPL) borrowers, finding that more than one-fifth of consumers with a…
CFPB: New Report Finds Hundreds of Thousands of Mortgages in Southeast and Central Southwest U.S. Likely Underinsured Against Flood Risk
Homeowners facing flooding from rivers and creeks more likely to be underinsured than coastal residents Today, the Consumer Financial Protection Bureau (CFPB) issued a new report that found significant differences in the likelihood that homeowners with a mortgage are adequately insured against flooding based both on location and on income and assets. According to findings,…
CFPB: Rule Proposed to Ban Contract Clauses that Strip Away Fundamental Freedoms
Rule would forbid fine print that seeks to censor speech or wipe away rights enshrined in law Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would stop financial companies from forcing Americans to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution. The…
FEMA: Agency Advancing Implementation of the Community Disaster Resilience Zones Act
FEMA has made progress over the past two years in analyzing the nation’s census tracts to designate those most in-need and at-risk due to natural hazards. The agency has now designated a total of 767 Community Disaster Resilience Zones (CDRZ) eligible for increased federal support to become more resilient to natural hazards and extreme weather. With these…
SBA: Financial Relief Offered to Los Angeles County Businesses and Residents Impacted by Devastating Wildfires
Today, SBA Administrator Isabel Casillas Guzman announced that low-interest federal disaster loans are now available to Southern California businesses, homeowners, renters and private nonprofit (PNP) organizations following President Joe Biden’s major disaster declaration(Link is external). The declaration covers Los Angeles and the contiguous counties of Kern, Orange, San Bernardino, and Ventura due to wildfires and straight-line winds that began Jan….
HUD: More Than $14 Million in Funding Announced to Support People Experiencing or at Risk of Homelessness in Florida
Funding will help provide shelter to people displaced by Hurricane Helene and Milton and support those experiencing homelessness with safe and stable housing options The U.S. Department of Housing and Urban Development (HUD) today announced $14.1 million to support people experiencing homelessness in Florida communities impacted by Hurricane Helene and Milton. The Rapid Unsheltered Survivor…
HUD: Aid Offered to California Disaster Victims
The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of California and ordered federal assistance for state, tribal, and local recovery efforts in areas affected by wildfires and straight-line winds beginning on January 7, 2025, and continuing.President Biden issued a major disaster declaration in the State of…
HUD: $10 Million Funding Opportunity Announced to Support Housing and Community Development Research at Minority-Serving Institutions
Funding available for Historically Black Colleges and Universities, Hispanic-Serving Institutions, Tribal Colleges and Universities, and Alaska Native/Native Hawaiian-Serving Institutions. The U.S. Department of Housing and Urban Development (HUD) today announced the availability of $10 million in funding through its Office of Policy Development & Research (PD&R) to support eligible minority-serving institutions (MSIs) in researching critical housing and…
CFPB: Input Sought on Digital Payment Privacy and Consumer Protections
Agency invites public to comment on financial surveillance concerns and how to apply existing laws to emerging consumer payment mechanisms Today, the CFPB announced that it is seeking public input on strengthening privacy protections and preventing harmful surveillance in digital payments, particularly those offered through large technology platforms. The agency is requesting comment on implementing…