Texas is seeking $2 billion in additional aid from the federal government, including $367 million in Community Development Block Grant funds to repair and rebuild housing damaged or destroyed by Hurricane Rita, despite opposition from the Bush administration.Texas Gov. Rick Perry told the Senate Appropriations Committee that the administration opposes his request for additional CDBG funds because most of the damage to housing in his state was caused by wind, not flooding. The Republican governor stressed that it doesn't matter to Texans which "force of nature" leveled their home or school. "All that matters is whether the government is going to supply the aid desperately needed to pick up the pieces of their scattered lives," he said. The Bush administration has requested an additional $4.2 billion in additional CDBG funds for Louisiana as part of a supplemental appropriations bill, but the request does not include additional CDBG funds for Texas. Last December, Congress approved $11.5 billion CDBG funds for the Gulf Coast states that allotted $6.2 billion for Louisiana and $5.1 billion for Mississippi, but only $74.5 million for Texas.
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Whereas AI can supercharge returns on investment in fulfillment and databases, the tech may also replace your entire staff, experts warned.
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The company will now consider loans up to $819,000 as government-sponsored enterprise-eligible, even though it cannot sell them to the agencies until Jan. 1.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
September 17 -
The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17