CUNA: $2 Million in Grants Awarded to 203 Low-Income Credit Unions
The NCUA awarded $2 million in grants to 203 low-income credit unions, funding from the agency’s Community Development Revolving Loan Fund (CDRLF). CUNA strongly supports full funding for the CDRLF, and successfully fought to restore funding when the fund was zeroed out for fiscal year 2018. Grant awards ranging from $1,300 to $20,000 were made…
SBA: National Veterans Small Business Week Kicks Off November 5-9
The U.S. Small Business Administration will celebrate the accomplishments of veteran, service member and military spouse small business owners nationwide during National Veterans Small Business Week, Nov. 5-9. “National Veterans Small Business Week is another opportunity for us not only to highlight the success of our nation’s 2.5 million veteran-owned businesses, but also to recognize…
FHFA: Proposed Rule Issued on Federal Home Loan Bank Housing Goals
The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to the existing regulation for the Federal Home Loan Bank (FHLBank) Housing Goals. The proposed rule would: Set a single prospective mortgage purchase housing goal as a share of each FHLBank’s total Acquired Member Asset (AMA) purchases; Set a new small member participation…
CFPB: Build a Brighter Future by Saving at Tax Time
Saving money is not always easy, but having some savings provides people with the security needed to withstand economic shocks and plan for their future. Many people save automatically through a workplace retirement plan or by directly depositing money out of each paycheck into a savings account. But according to the Pew Charitable Trusts, more than…
FEMA: President Trump Approves Major Disaster Declaration for the Commonwealth of the Northern Mariana Islands
The Federal Emergency Management Agency announced that federal disaster assistance has been made available to the Commonwealth of the Northern Mariana Islands to supplement Commonwealth and local recovery efforts in the areas affected by Super Typhoon Yutu beginning on October 24, 2018, and continuing. The President’s action makes federal funding available to affected individuals in…
FEMA: Three More North Carolina Counties Added for Disaster Assistance
Residents and business owners in Chatham, Durham and Guilford counties may now apply for disaster assistance for uninsured and underinsured damage and losses resulting from Hurricane Florence. “The addition of three more counties to the disaster declaration will help more North Carolinians get their lives back on track after Hurricane Florence,” said Gov. Roy Cooper. To…
FEMA: Survivors in Seven Additional Georgia Counties May Apply for Disaster Assistance
Homeowners, renters and business owners in seven additional Georgia counties are now eligible to apply for federal disaster assistance due to losses from Hurricane Michael. President Donald Trump amended a major disaster declaration on Oct. 25, for the State of Georgia to include Calhoun, Clay, Laurens, Randolph, Sumter, Tift and Turner counties. Baker, Crisp, Decatur,…
FEMA: Public Assistance Available for Five More Counties in North Carolina
Five more North Carolina counties affected by Hurricane Florence are now eligible to apply for federal assistance to help pay for the cost of debris removal, emergency protective measures and permanent repair work to damaged infrastructure. FEMA announced that state and local government agencies in Alamance, Madison, Polk, Rowan and Tyrrell counties may be eligible…
FHFA: Indices Show Little Movement in Mortgage Rates in September 2018
Nationally, interest rates on conventional purchase-money mortgages were nearly flat from August to September, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.62 percent for loans closed in late September, down 1 basis point from 4.63 percent in August….
ABA: Report Shows Credit Card Market Expanded in Second Quarter 2018
Credit card use picked up in the second quarter of 2018, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Compared to a year ago, super-prime accounts increased 9.2 percent and prime accounts rose 6.6 percent, both record highs. Meanwhile, subprime purchase volumes expanded at a much slower pace (+3.0 percent) on…