Addressing mortgage delinquencies and foreclosures
Numerous programs, partnerships and other efforts--led by public, private and nonprofit organizations--are under way to reduce the number of delinquencies and foreclosures.
New \\"Banker's quick reference guide to CRA\\"
The Community Affairs Office of the Dallas Fed has revised A Banker's Quick Reference Guide to CRA. The publication is a tool for quickly accessing information about CRA regulation and examination procedures.
Earned Income Tax Credit: Bank One program helps low-income taxpayers
Many low-income working families are unaware that they can receive up to $4,140 in tax credits under the IRS' Earned Income Tax Credit program. Others file with commercial tax preparation services that charge not only a fee for the tax preparation and electronic filing but also high interest on refund anticipation loans. Bank One stepped up with a volunteer program to assist low-income people in preparing their tax returns and claiming the EITC. The bank also helped the filers open bank accounts so they could get their refunds by direct deposit.
Notes from the field: interview with city of Fort Worth's Homelessness Program Director
In March the Federal Reserve Bank of Dallas interviewed Otis Thornton, Homelessness Program Director at the City of Fort Worth, to discuss the fundamentals of homelessness and efforts to combat it.
Ask the examiner
We asked Diane van Gelder, director of examinations in the Dallas Fed's Consumer Affairs Division, for advice on the steps bank compliance officers should take to prepare for these regulatory changes.
SBDCs: a one-stop shop for small businesses
Determining coverage under HOEPA
To understand how these amendments affect a typical home equity loan, a loan example has been developed that incorporates the changes in the regulation. The annual percentage rate test and the points and fees test are applied to a loan example.
Partnering colleges with their communities
The U.S. Department of Housing and Urban Development (HUD) assists historically black colleges and universities (HBCUs) with grants through the Office of University Partnerships. The office helps the HBCUs expand their role and effectiveness in addressing community development needs in their local regions. HUD grants are awarded to help revitalize neighborhoods and promote affordable housing near HBCU campuses.
Measuring IDA program's impact
Since 2007, the state of New Mexico has invested $2.45 million to support Individual Development Accounts (IDAs) for New Mexico savers. This funding provides a much-needed local match required by federal IDA funding, which was awarded through the Assets for Independence Act.
\\"Building wealth\\" characters get animated
When the Federal Reserve Bank of Dallas updated its popular print publication, "Building Wealth: A Beginner's Guide to Securing Your Financial Future", it also produced a new animated, interactive CD-ROM version.