Federal Reserve: Report on the Economic Well-Being of U.S. Households Issued

The Federal Reserve Board’s latest Report on the Economic Well-Being of U.S. Households found that most measures of economic well-being and financial resilience in 2018 were similar to, or slightly better than, those in 2017. Overall, the financial experiences reported by the 11,000 adults surveyed in 2018 were largely positive, and many […]

OCC: “Operation Choke Point” Lawsuit Dismissed

The Office of the Comptroller of the Currency (OCC) today released the following statement regarding the dismissal of the long-running lawsuit alleging regulatory pressure to close payday lender bank accounts: The OCC is pleased by the plaintiffs’ decision to dismiss the OCC from their long-running lawsuit (Advance America et al. […]

EDA: Investment Made to Expand Critical Santa Fe College Business Incubator in Opportunity Zone

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.8 million grant to Santa Fe College, Gainesville, Florida, to help re-build and expand the Santa Fe College Center for Innovation and Economic Development (CIED) at the Blount Center. The project, to […]

EDA: Investment Made to Reconstruct Bridges and Ensure the Flow of Commerce in Independence County, AR

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $2.5 million in Independence County, Arkansas, to help ensure the continued flow of commerce throughout the region and especially during flood events, an investment to be matched with $625,000 in local funds. “Helping […]

CFPB: Financial Education Tool Launched for Active-Duty Servicemembers

“Misadventures in Money Management” Expands to Wider Audience Today the Consumer Financial Protection Bureau (CFPB) significantly expanded its Misadventures in Money Management financial education tool to active-duty servicemembers. Misadventures in Money Management (MIMM.gov ) was initially developed for future servicemembers who signed a contract to enlist in the armed forces, but […]

CDFI Fund: $3.5 Billion Announced in New Market Tax Credits

Awards will Spur Economic and Community Development Nationwide  Washington – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3.5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide.  A total of 73 […]

FDIC: Agency Resolves Payday Lender Lawsuit

The Federal Deposit Insurance Corporation (FDIC) has resolved a lawsuit with Advance America, Cash Advance Centers, Inc.; Check Into Cash, Inc.; and Northstate Check Exchange. Advance America et al. v. Federal Deposit Insurance Corporation et al. (D.D.C.). The lawsuit had alleged terminations of payday lender bank accounts. In exchange for the plaintiffs’ […]

EDA: Investment Made to Provide High-Speed Research Computing for Business Growth in South Dakota Opportunity Zone

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.46 million grant to Dakota State University in Madison, South Dakota, to help establish a high speed research network. The investment, located in a Tax Cuts and Jobs Act designated Opportunity Zone, […]