Federal Reserve: Report Issued on the Economic Well-Being of U.S. Households
in the fourth quarter of 2020, nearly one-fourth of adults said that they were worse off financially compared to a year earlier, reflecting the economic fallout and distress resulting from the global COVID-19 pandemic. The Federal Reserve Board’s report, Economic Well-Being of U.S. Households in 2020, which was released on Monday, found a larger share of adults…
Agencies Extend Comment Period on Request for Information on Artificial Intelligence
Five federal financial regulatory agencies announced today they will extend the comment period on the request for information on financial institutions’ use of artificial intelligence (AI) until July 1, 2021. The agencies are seeking information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit…
HUD: $51 Million Awarded to Clean Up Lead Hazards in Public Housing
Funding to identify and control potentially dangerous lead in thousands of homes with young children The U.S. Department of Housing and Urban Development (HUD) today awarded nearly $51.4 million to 25 Public Housing Agencies (PHAs) in 19 states to identify and reduce lead-based paint hazards in thousands of older public housing units. Provided through HUD’s…
Federal Reserve: Third Extension Announced of Rule to Bolster the Effectiveness of the SBA’s Paycheck Protection Program
The Federal Reserve Board on Friday announced the third extension of a rule to bolster the effectiveness of the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board’s rules so that certain bank directors and shareholders can apply to their banks for PPP loans for…
FEMA: President Biden Approves Major Disaster Declaration for West Virginia
FEMA announced federal disaster assistance has been made available to the state of West Virginia to supplement state and local recovery efforts in the areas affected by severe winter storms from Feb. 10-16, 2021. Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency…
FEMA: President Biden Approves Major Disaster Declaration for Hawaii
FEMA announced federal disaster assistance has been made available to the state of Hawaii to supplement state and local recovery efforts in the areas affected by severe storms, flooding and landslides from March 8-18, 2021. Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for…
EDA: $4 Million in CARES Act Recovery Assistance Invested to Create Small Business Revolving Loan Fund Across Wyoming
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4 million CARES Act Recovery Assistance grant to Rural Development Fund, Casper, Wyoming, to capitalize and administer a Revolving Loan Fund (RLF) to provide critical gap financing to small businesses economically impacted by the coronavirus pandemic in…
EDA: $2.6 Million in CARES Act Recovery Assistance Invested to Capitalize Revolving Small Business Loan Fund in Five-County Region of New York
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.6 million CARES Act Recovery Assistance grant to Hudson Valley Agribusiness Development Corporation, Hudson, New York, to capitalize and administer a Revolving Loan Fund, providing gap financing to farm and food businesses throughout Columbia, Dutchess, Greene, Orange,…
EDA: $2 Million Invested to Support Medical Center Expansion in Ashland, KY
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Ashland Hospital Corporation, Ashland, Kentucky, to purchase upgraded equipment and support expansion efforts. This EDA grant, to be matched with $500,000 in local investment, is expected to create 250 jobs and generate…
EDA: $2 Million in CARES Act Recovery Assistance Invested to Support Business Expansion and Growth Efforts in Dahlonega, GA
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million CARES Act Recovery Assistance grant to Lumpkin County Water & Sewerage Authority, Dahlonega, Georgia, to support business expansion and growth efforts, bolstering the region’s ability to withstand future economic disruptions. This EDA grant, to be…