ABA: Report Shows Credit Card Spending Falls in First Quarter 2020
Credit card purchase volumes fell in the first quarter of 2020 as the economy entered its first recession in a decade, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. In line with the onset of the pandemic-induced economic downturn and prior industry reports, seasonally adjusted monthly purchase volumes pulled back from the…
SBA: Virtual Military Spouse Entrepreneur Summit to be Held Wednesday, August 19th
The U.S. Small Business Administration will host a virtual “Military Spouse Entrepreneur Summit” in collaboration with Second Lady of the United States Karen Pence and the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes on Wednesday, Aug. 19 from 1-3:30 p.m., EDT. This free event will connect military spouses with resources and information available to help them start or…
EDA: $10.1 Million Invested in WV to Support Local Strategies Including Opportunity Zones
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $10.1 million in the state of West Virginia to protect businesses from flooding, spur growth in a critical industry sector, boost workforce training efforts, and provide infrastructure needed to support businesses, including those in Opportunity Zones. The EDA…
Census Bureau: Statement of Delivering a Complete and Accurate 2020 Census Count
The U.S. Census Bureau continues to evaluate its operational plans to collect and process 2020 Census data. Today, we are announcing updates to our plan that will include enumerator awards and the hiring of more employees to accelerate the completion of data collection and apportionment counts by our statutory deadline of December 31, 2020, as…
HUD: Over $74 Million in Grants Awarded to Support Affordable Rental Housing for Extremely Low-Income Persons with Disabilities
The U.S. Department of Housing and Urban Development today announced the award of over $74 million in grants to 12 state housing finance agencies to support affordable rental housing for extremely low-income persons with disabilities. The awards will support up to five years of rental assistance for approximately 2,400 units of housing in buildings participating…
FFIEC: Joint Statement on Additional Loan Accomodations Related to COVID-19
This letter announces that the Federal Reserve and the other Federal Financial Institutions Examination Council (FFIEC) members1 have issued the attached Joint Statement on Additional Loan Accommodations Related to COVID-19. This statement discusses risk management principles relevant to institutions that work with their borrowers as loans near the end of initial loan accommodation periods related to COVID-19. The statement includes…
FEMA: President Trump Approves Emergency Disaster Declaration for North Carolina
FEMA announced federal disaster assistance has been made available to the state of North Carolina to supplement state and tribal response efforts in the areas affected by Hurricane Isaias from July 31, 2020 and continuing. Federal funding is available to the state, eligible local governments and certain private nonprofit organizations on a cost-sharing basis for…
SBA: Readout from Roundtable Discussion with Minority Depository Institutions
On July 30, 2020, U.S. Small Business Administration Administrator Jovita Carranza, Deputy Secretary of the Treasury Justin Muzinich, U.S. and other senior Treasury and SBA officials participated in a roundtable discussion with National Bankers Association Chairman Kenneth Kelly and executives from several minority depository institutions (MDIs). The discussion focused on the MDIs’ experiences as lenders…