FEMA: Major Disaster Are Declared for State of Vermont
The Federal Emergency Management Agency (FEMA) announced that federal disaster assistance has been made available to the state of Vermont to supplement state and local recovery efforts in the areas affected by a severe storm and flooding from October 29 to October 30, 2017. Federal funding is available to state and eligible local governments and…
FEMA: Major Disaster Declaration for the State of New Hampshire
The Federal Emergency Management Agency announced that federal disaster assistance has been made available to the state of New Hampshire to supplement state and local recovery efforts in the areas affected by a severe storm and flooding from October 29 to November 1, 2017. Federal funding is available to state and eligible local governments and…
FEMA: Public Assistance Eligibility Expanded to Include Houses of Worship
The Federal Emergency Management Agency (FEMA) announced today that private nonprofit houses of worship are now eligible for disaster assistance as community centers, without regard to their secular or religious nature. These changes are effective for disasters declared on or after August 23, 2017 and for applications for assistance that were pending with FEMA as…
FEMA: Major Disaster Declaration Approved for California
The Federal Emergency Management Agency (FEMA) announced today that federal disaster assistance has been made available to the state of California to supplement state, tribal, and local recovery efforts in the areas affected by wildfires from December 4, 2017 and continuing. Federal funding is available to state and eligible local governments and certain private nonprofit organizations…
Federal Reserve: Inequality in 3-D – Income, Consumption and Wealth
Finance and Economics Discussion Series (FEDS) Inequality in 3-D: Income, Consumption, and Wealth (PDF) by Jonathan Fisher, David Johnson, Timothy Smeeding, and Jeffrey Thompson Abstract: We do not need to and should not have to choose amongst income, consumption, or wealth as the superior measure of well-being. All three individually and jointly determine well-being. We…
Federal Reserve: Recent Trends in Small Business Lending and the Community Reinvestment Act
Tim Dore and Traci Mach In this note, we analyze data on small business loan originations collected under the Community Reinvestment Act (CRA) to document heterogeneity in the recovery in small business lending since the financial crisis. Small business loan originations by CRA respondents declined significantly between 2007 and 2010 and, by 2016, have only…
FHFA: Index Shows Mortgage Rates Increased in November 2017
Nationally, interest rates on conventional purchase-money mortgages increased from October to November, 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 4.05 percent for loans closed in late November, up 7 basis points from 3.98 percent in October….
CFPB: New Report Released on the State of the Credit Card Market
The Bureau of Consumer Financial Protection (Bureau) today released its biennial report on the state of the credit card market. The report found that the total amount of credit line, number of accounts, average amount of card debt, and enrollment in online services have all increased over the past several years. The report found also…
FEMA: After the Disaster Assistance Registration Deadline Fact Sheet
While it has been more than 100 days since Hurricane Harvey made landfall, and the disaster assistance registration deadline has passed, there is still a lot of work to be done. Harvey survivors are part of the whole community effort. The steps they take on their road to recovery and the decisions they make about…