HUD: $147 Million Awarded to Tribal Communities for Affordable Housing and Community Development
The U.S. Department of Housing and Urban Development (HUD) on Thursday announced 83 awards totaling $147 million for affordable housing and community development projects that primarily benefit people with low and moderate incomes in American Indian and Alaska Native communities. “Every person deserves a fair shot to get ahead-one that includes access to safe, affordable…
EDA: National Advisory Council on Innovation and Entrepreneurship Reestablished
32 Leaders in Technology, Innovation, Workforce Development, and Academia Appointed to Council Today, U.S. Secretary of Commerce Gina M. Raimondo announced the appointment of 32 leaders and experts to the National Advisory Council on Innovation & Entrepreneurship (NACIE). NACIE will be charged with developing a National Entrepreneurship Strategy that strengthens America’s ability to compete and win as…
CFPB: Agency Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
Companies relying on complex algorithms must provide specific and accurate explanations for denying applications Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models…
EDA: $1.9 Million Invested to Support Business Expansion in Ben Hill County, GA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.9 million grant to Ben Hill County, Georgia, for road construction and drainage improvements. This project will support the expansion of a local plastic resin manufacturer and help attract new businesses, supporting job creation and private…
EDA: $1.6 Million Invested to Establish Business Incubator in Charleston, WV
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the University of Charleston, Charleston, West Virginia, to establish the Downtown Innovation Hub, a local business incubator. This project will assist small businesses to create new jobs and economic opportunities. This EDA…
EDA: $708,640 Invested for Water and Road Improvements to Support Business Expansion in Johnstown, PA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $708,640 grant to the Cambria Somerset Authority, Johnstown, Pennsylvania, for water infrastructure and roadway repairs. This project will support local job recruitment and retention efforts by providing the critical infrastructure the local business community needs to stabilize and grow following the failure…
EDA: $559,944 Invested to Support Workforce Development Efforts in Tillamook County, OR
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $559,944 grant to Tillamook Bay Community College (TBCC), Tillamook, Oregon, to boost workforce development efforts in Tillamook County. This project will support the remodeling and updating of an existing TBCC facility to allow expanded enrollment in industrial technology skills training programs. This…
EDA: $500,000 Invested to Support Tech-Based Entrepreneurs in Baton Rouge, LA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Research Park Corporation dba Nexus Louisiana, Baton Rouge, Louisiana, to spur tech-based entrepreneurial growth. This EDA investment will allow Nexus Louisiana to increase planning, outreach, and training assistance to tech-based startups through its Ignition Accelerator and Venture Capital Assistance…
EDA: Over $25 in American Rescue Plan Funds Invested
In the last week, the following grants were made under the American Rescue Plan Funds program of the CARES Act Recovery Assistance program: May 24, 2022 – U.S. Department of Commerce Invests $6 Million in American Rescue Plan Funds for Boardwalk Improvements to Support Tourism in Atlantic City, New Jersey May 24, 2022 – U.S. Department of…
CFPB: New Effort Launched to Promote Competition and Innovation in Consumer Finance
New Office Will Identify Obstacles for New Market Entrants The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. The office will replace the…