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Treasury sends $1B in rental aid funds to high-demand areas
The Treasury Department announced Friday that it will allocate more than $1.1 billion in Emergency Rental Assistance (ERA) funds to states and cities that spent the first round of aid quickly due to the COVID-19 pandemic. According to Treasury, more than 75 percent of the reallocations were voluntary transfers between aid programs within the same states.
Of note, the CFPB has an online tool to help renters and landlords impacted by the coronavirus pandemic easily find and apply for payment assistance for rent, utilities, and other expenses. The Rental Assistance Finder connects renters and landlords with state and local programs that are distributing billions of dollars in federal assistance to help renters stay housed during the pandemic.
In addition, secretaries of the Department of Housing and Urban Development (HUD), the Treasury Department, the Department of Agriculture, the VA, along with FHFA Acting Director Sandra Thompson released a joint statement in July encouraging owners and operators to access Emergency Rental Assistance to avoid evicting a tenant for non-payment with resources available in all states.
NAFCU will continue to monitor the Treasury’s relief programs as credit unions work to best support their members amid the pandemic.