WASHINGTON – Alphonso Jackson was sworn in April 1 as the 13th Secretary of the Department of Housing and Urban Development at a private ceremony at the agency, a day after the U.S. Senate confirmed his nomination. Jackson succeeds former HUD Secretary Mel Martinez who served in the Cabinet position from 2001-2003. Prior to being nominated as Secretary, Jackson served for nearly three years as HUD’s Deputy Secretary, managing the day-to-day operations of the agency including its 9,300 employees and an annual budget of $32 billion. At the swearing-in ceremony, Jackson promised to continue building on the nation’s record homeownership rate, increasing access to affordable housing for low-income families, and improving sound management practices within HUD. Jackson’s confirmation for the position came a little more than one week after he announced HUD’s decision to pull its proposed RESPA reform rule. Prior to that decision, Sen. Wayne Allard (R-Colorado), a member of the Senate Committee on Banking, Housing, and Urban Affairs said he would not support Jackson’s nomination “at this time” until HUD withdrew the proposed reform.
The disruption could introduce new risks into the system by compelling banks to loosen lending standards and take on greater risk.
The CDFI awards support to developers, renters and buyers.
Without email authentication standards, hackers don’t need to compromise accounts to send emails that impersonate FIs.
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