EDA: $852,000 Invested to Make Critical Infrastructure Improvements to Spur Industrial Growth in Yuma, AZ
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $852,000 grant to the city of Yuma, Arizona, to construct a sewer system to serve an industrial area that will support commercial and industrial business enterprises. This EDA grant, to be matched with $213,000 in local funds, is expected to create 500…
Census Bureau: Household Pulse Survey Weekly Data Released
The Census Bureau today released new data from the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the availability of consumer goods…
FDI: New Members to Advisory Committee on Community Banking Named
The Federal Deposit Insurance Corporation (FDIC) today announced three new members to its Advisory Committee on Community Banking, which has been sharing input with the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around…
ABA: Officers Nominated for 2020-2021
The American Bankers Association’s Nominating Committee has selected the official slate of candidates for ABA officers for election at the association’s virtual annual meeting to be held October 20. The Committee, chaired by Jeffrey M. Szyperski, chair, president and CEO, Chesapeake Bank, Kilmarnock, Va., nominated these candidates for ABA officer positions: CHAIRMAN: James J. Edwards,…
EDA: $1.5 Million Invested to Modernize Shipyard Service Facility in American Samoa Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the American Samoa Shipyard Services Authority, Pago Pago, American Samoa, to support the acquisition of equipment, machinery, and tools needed to modernize the Shipyard Service Facility located in a Tax Cuts and Jobs Act Opportunity…
FHFA: 2021 Housing Goals for Fannie Mae and Freddie Mac Proposed
Today, the Federal Housing Finance Agency (FHFA) proposed its 2021 housing goals for Fannie Mae and Freddie Mac (the Enterprises). Due to the economic uncertainty related to the COVID-19 national pandemic, FHFA is proposing benchmarks for calendar year 2021 only, and those levels will remain the same as they were for 2018-2020. Once finalized, the…
ABA: America’s Banks Urged to Adopt Mask Policy
In light of the continuing health threat posed by the COVID-19 pandemic, the American Bankers Association is urging banks across the nation to adopt a policy requiring anyone who enters a branch to wear a mask or face covering to protect the health of bank employees and customers. Requiring the use of masks and face…
OCC: Acting Comptroller Brooks Promotes Access to Capital in Underserved Areas
Acting Comptroller of the Currency Brian Brooks today joined Senator Tim Scott and Secretary of Housing and Urban Development Ben Carson to raise awareness of investment and lending related to Opportunity Zones, which also may receive credit under the Office of the Comptroller of the Currency’s (OCC) new Community Reinvestment Act (CRA) rule. “Today, bankers,…
EDA: Over $100 Million in CARES Act Funding Invested to Support Recovery from Coronavirus Pandemic
The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded over $10 Million in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include: July 17, 2020 – U.S. Department of Commerce Invests $8.4 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small…
Federal Reserve: Main Street Lending Program Modified to Provide Greater Access to Credit for Nonprofit Organizations
The Federal Reserve Board on Friday modified the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. As detailed in term sheets released today, the Board approved two new loan options to provide support to a broad set of nonprofit organizations that…