FDIC: Operation HOPE, Inc. and FDIC Announce Initiative to Expand Financial Education and Minority/Women-Owned Business Opportunities
The Federal Deposit Insurance Corporation (FDIC) today announced a collaboration with Operation HOPE, Inc., to promote financial education using the FDIC’s Money Smart curriculum and other resources and to help educate minority- and/or women-owned businesses on how to do business with the agency. The arrangement expands upon a longstanding relationship between the FDIC and Operation…
SBA: New Pilot Program Announced to Bolster Cybersecurity Infrastructure of Emerging Small Businesses
SBA will Award $3M in Grants to Help States, Entrepreneurs Combat Rise in Cyber Attacks and Threats Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced $3 million in new funding for state governments to help emerging small businesses across America develop their cybersecurity infrastructure – a priority of the Biden-Harris…
SBA: Business Forward and SBA Launch the “Small Business Digital Alliance”
New Venture Will Convene Major Tech Companies, Players to Provide Small Businesses Free Access to Tools to Expand E-Commerce Footprint Today, the U.S. Small Business Administration (SBA) and Business Forward, Inc., a non-profit organization working with small business leaders in support of policies promoting America’s economic competitiveness, announced the launch of the Small Business Digital Alliance (SBDA). A joint public-private…
EDA: $3 Million in CARES Act Recovery Assistance Invested to Capitalize Revolving Loan Fund to Serve Small Businesses in South Central Louisiana
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to the South Central Planning and Development Commission, Houma, Louisiana, to capitalize and administer a Revolving Loan Fund. This grant will provide gap financing to small, local businesses in…
CFPB: Agency to Examine Colleges’ In-House Lending Practices
CFPB Publishes Oversight Protocols for Institutional Student Lending Today, the Consumer Financial Protection Bureau (CFPB) announced it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students. The CFPB is issuing an update to its exam procedures including a new section on institutional student loans. As…
HUD: $83 Million Announced to Deliver Equitable COVID-19 Relief to Tribal Communities
The U.S. Department of Housing and Urban Development (HUD) today announced the awarding of more than $83 million in Indian Community Block Grant-American Rescue Plan (ICDBG-ARP) grants to 74 Tribal communities to prevent, prepare for, and respond to the COVID-19 pandemic. This is the third round of ICDBG-ARP awards, underscoring the Biden-Harris Administration’s commitment to…
OCC: SoFi Bank, National Association Conditionally Approved for Full Service OCC Bank Charter
The Office of the Comptroller of the Currency (OCC) today conditionally approved applications from Social Finance Inc. (SoFi) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heights, Utah. As part of the transaction, SoFi Bank, N.A. will acquire Golden Pacific Bank, National Association, a national…
HUD: FHA Real-Estate Owned Property Purchase Opportunities Expanded for Owner-Occupied Buyers
Expanded exclusive listing period increases priority purchase opportunities on HUD-owned single-family homes for owner-occupants, HUD-approved nonprofits, and governmental entities. The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit…
SBA: Council on Underserved Communities Holds First Virtual Meeting
On Tuesday, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, joined John W. Rogers, Jr., Chairman of the Council on Underserved Communities (CUC), to hold the first meeting of the reconvened council. “I’m excited for this kick-off as the CUC and its important mission…
EDA: $2.3 Million Invested for Broadband Infrastructure in Anacortes, WA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.3 million grant to the city of Anacortes, Washington. This project will support the installation of broadband infrastructure throughout Anacortes, expanding high-speed internet service to all of the city’s households, and providing additional connectivity to local…