| Feb 2, 2011 3:27PM Citing the limited benefits of proceeding with it and the potential compliance difficulties that would arise from it, the Federal Reserve Board had decided not to finalize three pending rulemakings scheduled to go into effect in July. The rules were to be promulgated under Regulation Z which implements the Truth in Lending Act (TILA) currently administered by the Board scheduled to be transferred to the new Consumer Financial Protection Bureau (CFPB.) Two of the rules were first proposed in August... Feb 2, 2011 1:37PM HUD's definition of Worst Case Housing Needs (WCN): unassisted very low-income renters who either (1) pay more than one-half of their monthly income for rent; or (2) live in severely inadequate conditions, or both. HUD defines "very low-income" as below 50 percent of the local area median income (AMI) and "extremely low-income" as below 30 percent of AMI. In its Worst Case Housing Needs report to Congress, the Department of Housing and Urban Development said the number of people classified as "Worst...
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