Skip to main content

Foxwoods Casino Tribe Gets HUD Housing Grant

Phil Hall
Feb 19, 2015

The Indian tribe that operates the nation’s largest casino complex has received $70,000 in a federal grant to provide its members with affordable housing.

The Associated Press is reporting that Connecticut’s Mashantucket Pequot Tribal Nation, which operates the Foxwoods Resorts Casino, has received $71,735 from the U.S. Department of Housing & Urban Development (HUD) as part of the 2015 Indian Housing Block Grant program. This program is intended to provide low-income families living on federally recognized tribal reservations with housing assistance.

Although the Foxwoods complex boasts the largest by floor space in North America and the second largest in the world, with six casinos spread across 4.7 million-square-feet, it has been burdened with financial difficulties in the years following the Great Recession. Foxwoods reported $960.1 million in net revenue during 2014, down 7.7 percent from $1.04 billion in 2013. Last year, the Mashantucket Pequot defaulted on the terms of a $1.7 billion debt-restructuring deal, which resulted in a forbearance agreement with its senior lenders that expires on June 30. As a result of its financial problems, the tribal authority has slashed stipends to its nearly 800 enrolled members, including housing assistance.

This is the third time in four years that the Mashantucket Pequots received a HUD grant–they previously received $68,000 in 2013 and $76,000 in 2012, but were not given funds last year.

Feb 19, 2015
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021