SBA: Regulatory Changes Finalized to SBA Surety Bond Guarantee Program
The U.S. Small Business Administration has noted two important changes to its Surety Bond Guarantee (SBG) Program that will increase contract opportunities for small contractors, supporting them to grow their business operations. The changes will become effective on September 20, 2017. The SBA will increase the guarantee percentage in the Preferred Surety Bond Program from…
SBA: FY 2017 State Trade Expansion Program (STEP) Awards Announced
The U.S. Small Business Administration today announced that $18 million in funding has been awarded to 44 State international trade agencies through SBA’s competitive State Trade Expansion Program (STEP), to support export growth among U.S. small businesses. STEP is designed to increase both the number of small businesses that begin to export and the value…
CFPB: Announces First No-Action Letter in Efforts to Support Consumer-Friendly Innovation
The Consumer Financial Protection Bureau (CFPB) today announced a no-action letter issued to Upstart Network, Inc., a company that uses alternative data in making credit and pricing decisions. As a condition of the no-action letter, Upstart will regularly report lending and compliance information to the CFPB to mitigate risk to consumers and aid the Bureau’s…
ABA: 9 in 10 Americans Rate Their Bank’s Service as Good or Excellent
Nine in 10 Americans with a bank account (89 percent) rate their bank’s service and support as “good,” “very good” or “excellent,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The same number say they are satisfied with their primary bank. The survey also asked consumers to…
SBA: $5 Million Awarded in PRIME Grants to Help Emerging Micro-entrepreneurs Gain Access to Capital
Funds Finance Training & Technical Assistance to Emerging Entrepreneurs; Capacity Building to Provider Organizations Thirty-four community-based organizations across the United States that provide assistance to disadvantaged entrepreneurs are set to receive a combined $5 million in grants from the U.S. Small Business Administration’s Program for Investment in Micro-Entrepreneurs (PRIME). These organizations help low-income entrepreneurs gain…
FDIC: FFIEC Launches New Industry Outreach Website
Printable Format: FIL-40-2017 – PDF (PDF Help) Summary: The Federal Financial Institutions Examination Council (FFIEC) launched a new Industry Outreach website for financial institutions, trade associations, third-party providers, and consultants. Statement of Applicability to Institutions with Total Assets Under $1 Billion: This FIL applies to all FDIC-supervised financial institutions. Highlights: The FFIEC launched a new…
CFPB: New Financial Empowerment Tools for People with Disabilities
This year marks the 27th anniversary of the Americans with Disabilities Act . This is a time for us to celebrate the leaders in the disability rights movement past and present who have worked tirelessly to ensure equality of opportunity, independent living, and economic self-sufficiency for all people. Despite much progress, millions of people with…
HUD: Report Finds People Living with Mental Disabilities Face Significant Rental Housing Discrimination
Persons living with mental illness, intellectual or other developmental disabilities continue to face significant housing discrimination in the rental housing market, according to a new pilot study released today by the U.S. Department of Housing and Urban Development (HUD). Rental Housing Discrimination on the Basis of Mental Disabilities: Results of Pilot Testing finds that when compared…
CFPB: Join the “Your Money, Your Goals” 2018 Cohort
Today we’re announcing an opportunity to participate in the CFPB’s Your Money, Your Goals 2018 cohort. Your Money, Your Goals is a suite of financial empowerment tools and resources that individuals and organizations can use to help the people they serve manage their money and work toward their goals. Each year, we identify a small…
Federal Reserve: Board Announces Community Depository Institutions Advisory Council Members for 2018
The Federal Reserve Board on Wednesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president and vice president of the council for 2018. CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift…