CFPB: Interpretive Rule Issued on Method for Determining Underserved Areas
The Consumer Financial Protection Bureau (Bureau) today issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year. The Bureau’s annual list of rural and underserved counties and areas is…
HUD: White House Opportunity and Revitalization Council Introduces opportunity zones.gov
New website will serve as comprehensive tool for the Opportunity Zones initiative Today, Secretary Ben Carson, on behalf of the White House Opportunity and Revitalization Council, announced a new website that will serve as a hub of information for the array of audiences that work with the Opportunity Zones initiative. Visit the Opportunity Zones website. Opportunity…
OCC: Comptroller Visits Compton, CA to Discuss How to Increase Community Reinvestment
Comptroller of the Currency Joseph Otting today visited Compton, California, and met with community stakeholders and bankers to discuss how to encourage more lending, investment, and bank services in areas that need it most. The visit was the fifth stop in the Comptroller’s summer tour to discuss modernizing the Community Reinvestment Act regulations. The tour…
FFIEC: Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2019 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community…
Interagency Release: List of Distressed and Underserved Nonmetropolitan Middle-Income Geographies for 2019 Released
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2019 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community…
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…
FDIC: Share of U.S. Households without a Bank Account Continues to Drop
Unbanked Rate Declines to 6.5 Percent in 2017 For the third consecutive survey period, the number of U.S. households without a bank account fell, according to the results of the 2017 biennial National Survey of Unbanked and Underbanked Households released today by the Federal Deposit Insurance Corporation (FDIC). “The good news is that our nation’s…
FFIEC: Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2018 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community…
HUD: Choice Neighborhoods Planning Grants Awarded
The U.S. Department of Housing and Urban Development (HUD) today awarded nearly $5 million to six communities to help create plans to redevelop severely distressed HUD assisted housing and revitalize neighborhoods. Funded through HUD’s Choice Neighborhoods Initiative, these grants will help local leaders to craft comprehensive, homegrown plans to revitalize and transform these neighborhoods. HUD’s…
HUD: Secretary Carson Launches EnVision Center Initiative
Today, Dr. Ben Carson, Secretary of the U.S. Department of Housing and Urban Development announced the launch of EnVision Centers, a new initiative designed to help HUD-assisted households achieve self-sufficiency. Located on or near public housing developments, EnVision Centers will be centralized hubs that serve as an incubator for the four key pillars of self-…