The House has approved a $94.5 billion supplemental appropriations bill that also provides $4.2 billion in additional Community Development Block Grants for Louisiana to help rebuild homes severely damaged in hurricanes Katrina and Rita.Congress provided Louisiana $6.2 billion in CDBG funds last December, but it was deemed inadequate to deal with damage caused by the massive flooding. President Bush requested an additional $4 billion in CDBG funds for Louisiana. The Senate was expected to approve final passage of the supplemental spending bill Thursday. The bill also includes $1 billion in CDBG funds to address hurricane recovery efforts in Mississippi, Texas, Alabama, and Florida. Mississippi and Louisiana are currently using the CDBG funds to provide homeowners with grants of up to $150,000 to repair and rebuild their homes.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
9h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11