HUD: $12 Billion Invested in Long-Term Assistance to Communities Impacted by Disasters
Funds will support recovery from Lahaina Wildfire, Hurricane Helene, Hurricane Milton, and other 2023 & 2024 disasters Today, the U.S. Department of Housing and Urban Development (HUD) announced the allocation of nearly $12 billion in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds for communities across 24 states and territories. To provide guidance for the implementation…
ABA: ABA and BAFT Announce Plans for Separation in 2025
The American Bankers Association (ABA) and BAFT, the leading global financial services association for international transaction banking and an ABA subsidiary, today announced their mutually agreed upon plans to separate in the second half of 2025. While ABA and BAFT have worked together successfully since 2002, BAFT’s global footprint and overseas opportunities have expanded in…
FEMA: President Biden Approves Major Disaster Declaration for California
FEMA announced that federal disaster assistance is available to the state of California to supplement recovery efforts in the areas affected by wildfires and straight-line winds from Jan. 7, 2025, and continuing. The President’s action makes federal funding available to affected individuals in Los Angeles County. Assistance can include grants for temporary housing and home…
HUD: Financing Flexibility Increased for Multifamily Affordable Housing Development
Updates to Federal Housing Administration (FHA) Multifamily Mortgage Insurance helps lenders and developers increase the supply of affordable rental housing in America. The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA), announced updated requirements for several of its multifamily mortgage insurance programs. During the Biden-Harris Administration, FHA has prioritized…
HUD: Affordable Housing Regulations Streamlined and Modernized Making Housing More Accessible for Families Nationwide
The Final Rule for HUD’s HOME Investment Partnerships Program will reduce administrative burden on communities, better align federal resources, and lower housing costs for families nationwide. Today, the U.S. Department of Housing and Urban Development (HUD) published a Final Rule in the Federal Register to modernize and strengthen regulations for the HOME Investment Partnership Program (HOME). HOME…
CFPB: Application Approved from Financial Data Exchange to Issue Standards for Open Banking Under Personal Financial Data Rights Rule
Agency also issues updated procedures for companies requesting special regulatory treatment Today, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule. The order of recognition is the first to be issued under the rule. The Personal Financial Data…
FEMA: Public Assistance Guide Published to Enhance Disaster Recovery in Communities
Today, FEMA published an updated version of the Public Assistance Program and Policy Guide which is the agency’s consolidated resource for Public Assistance policies that establish how states, Tribal Nations, local governments, territories and certain private nonprofits can recover and rebuild using federal funds after disasters. This guide applies to disasters declared on or after Jan. 6,…
CFPB: Rule Finalized to Remove Medical Bills from Credit Reports
Final rule will remove billions of dollars of medical bills from credit reports and end coercive debt collection practices that weaponize the credit reporting system Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action…
FEMA: $1.35 Billion Announced to Increase Climate Resilience Nationwide
Today, FEMA Administrator Deanne Criswell announced that as part of President Joseph R. Biden’s Investing in America Agenda, FEMA is making $1.35 billion available for two grant programs designed to help communities enhance resilience to the impacts of increasingly frequent and extreme weather events. The Building Resilient Infrastructure and Communities (BRIC) annual grant program is making $750 million available for projects that…
HUD: Over $140 Million Invested to Support Families Achieving Economic Self-Sufficiency
Funding through the Family Self-Sufficiency (FSS) program empowers families to build savings, gain employment, and achieve financial independence. The U.S. Department of Housing and Urban Development (HUD) today announced over $140 million in funding to 836 existing grantees through the Family Self Sufficiency (FSS) Program. These awards will fund 1,537 service coordinator positions across the…