EL PASO, Texas - (10/13/04) -- The Affordable Housing CUSO hasjoined several other community groups in a project that will helphomeowners secure the deed to 22 rundown trailer homes and buildnew homes in their place. The coalition, known as the El PasoEmpowerment Zone, recently received an $800,00 grant from the U.S.Department of Housing and Urban Development that will be used tosecure the deeds on the property. The El Paso Collaborative,another partner in the coalition, will provide interim financing,and the CUSO, comprised of eight area credit unions, will providepermanent financing, as well s financial literacy training and helpin securing the deeds, according to Larry Garcia, head of the CUSO.Fannie Mae has committed to buying all of the loans. The Universityof Texas El Paso has also agreed to provide each homeowner with a$700 grant to provide energy efficiency in the new homes. "There'sa lot of groups that are part of this," Garcia told The CreditUnion Journal. CUSO members are: West Texas CU, GECU, Ft. BlissFCU, Mountain Star FCU, Golden Key FCU, El Paso Area Teachers FCU,El Paso Employees FCU and El Paso Bell FCU.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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