EDA: $1.7 Million Invested to Boost Capacity of the Port of Epes Industrial Park in Livingston, AL Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million grant to the University of West Alabama, Livingston, Alabama, to improve barge access at the Port of Epes Industrial Park. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be…
EDA: $615,448 Invested to Support Manufacturing and Industrial Growth in Gulf County, FL
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $615,448 grant to Gulf County, Florida, to make critical, disaster resistant infrastructure improvements needed to support manufacturing and industrial growth at the Costin Airport site and along Cessna Drive in Port St. Joe. The EDA grant, to be matched with $153,862 in…
EDA: $399,804 in CARES Act Recovery Assistance Invested to Boost Capital Investment in Rural Utah Opportunity Zones
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $399,804 grant to the Sorenson Impact Center at the University of Utah and the Utah Association of Counties to create a rural Opportunity Zone and Recovery Playbook that will support local efforts to drive capital investment into Utah communities. This EDA grant,…
ABA: Georgia Banker Elected as New ABA Chairman
Today the American Bankers Association elected James J. Edwards, Jr., as its chairman for the 2020-2021 association year. Originally scheduled to be held in Boston, the election took place during ABA’s virtual annual convention due to COVID-19. Edwards is CEO of United Bank, a $1.7 billion community bank based in Zebulon, Ga. The bank operates…
ABA: Officers, Board for 2020-2021 Elected
Members attending the American Bankers Association’s virtual annual convention have elected new ABA officers and directors to serve on ABA’s board for the 2020-2021 association year. The new officers are: CHAIRMAN: James J. Edwards, Jr., CEO, United Bank, Griffin, Ga.; CHAIRMAN-ELECT: A. Scott Anderson, president and CEO, Zions Bank, Salt Lake City; VICE CHAIRMAN: Daniel…
ABA: Seven Banks Win ABA Foundation’s 2020 Community Commitment Awards
The American Bankers Association Foundation named seven banks as 2020 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized today at ABA’s Unconventional Convention. “This has been a challenging year in so many ways, and…
ABA: M&T Bank and Midwest BankCentre Employees Win ABA Foundation Distinguished Service Awards
Detra Miller and Alex Fennoy have been named the ABA Foundation’s 2020 George Bailey Distinguished Service Award winners for their efforts to expand banking services to underserved communities. The two bankers will be recognized today at the ABA Unconventional Convention. Now in its sixth year, the George Bailey Distinguished Service Award recognizes a non-CEO bank employee…
FHFA: Rule for New Enterprise Products and Activities Proposed
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comments on a notice of proposed rulemaking that requires Fannie Mae and Freddie Mac (the Enterprises) to provide advance notice to FHFA of new activities and obtain prior approval before launching new products. Additionally, the proposed rule establishes revised criteria for determining whether a new…
FHFA: COVID-Related Loan Flexibilities Further Extended
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until November 30, 2020. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on October 31, 2020. Extended flexibilities include: Alternative appraisals…
ABA: America’s Banks Urged to Offer Bank On-Certified Accounts
Core Providers Pledge Support for Financial Inclusion Initiative The American Bankers Association today called on every bank in the country to consider offering Bank On-certified accounts to expand access to banking services and reduce the number of unbanked and underbanked Americans. In urging all banks to join ABA in this financial inclusion initiative during his…