EDA: National Advisory Council on Innovation and Entrepreneurship Reestablished
32 Leaders in Technology, Innovation, Workforce Development, and Academia Appointed to Council Today, U.S. Secretary of Commerce Gina M. Raimondo announced the appointment of 32 leaders and experts to the National Advisory Council on Innovation & Entrepreneurship (NACIE). NACIE will be charged with developing a National Entrepreneurship Strategy that strengthens America’s ability to compete and win as…
CFPB: Agency Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
Companies relying on complex algorithms must provide specific and accurate explanations for denying applications Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models…
FEMA: President Biden Approves Major Disaster Declaration for Kansas
FEMA announced that federal disaster assistance has been made available to the state of Kansas to supplement state, tribal and local recovery efforts in the areas affected by severe winter storms and straight-line winds from March 17-22, 2022. Federal funding is available to the state, eligible local and tribal governments and certain private nonprofit organizations…
OCC: Third and Fourth Quarter 2022 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2022. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
HUD and Census Bureau: New Residential Sales Report for April 2022 Issued
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for April 2022: New Home Sales Sales of new single‐family houses in April 2022 were at a seasonally adjusted annual rate of 591,000, according to estimates released jointly today by the U.S. Census…
EDA: $1.9 Million Invested to Support Business Expansion in Ben Hill County, GA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.9 million grant to Ben Hill County, Georgia, for road construction and drainage improvements. This project will support the expansion of a local plastic resin manufacturer and help attract new businesses, supporting job creation and private…
EDA: $1.6 Million Invested to Establish Business Incubator in Charleston, WV
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the University of Charleston, Charleston, West Virginia, to establish the Downtown Innovation Hub, a local business incubator. This project will assist small businesses to create new jobs and economic opportunities. This EDA…
EDA: $708,640 Invested for Water and Road Improvements to Support Business Expansion in Johnstown, PA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $708,640 grant to the Cambria Somerset Authority, Johnstown, Pennsylvania, for water infrastructure and roadway repairs. This project will support local job recruitment and retention efforts by providing the critical infrastructure the local business community needs to stabilize and grow following the failure…
EDA: $559,944 Invested to Support Workforce Development Efforts in Tillamook County, OR
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $559,944 grant to Tillamook Bay Community College (TBCC), Tillamook, Oregon, to boost workforce development efforts in Tillamook County. This project will support the remodeling and updating of an existing TBCC facility to allow expanded enrollment in industrial technology skills training programs. This…
EDA: $500,000 Invested to Support Tech-Based Entrepreneurs in Baton Rouge, LA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Research Park Corporation dba Nexus Louisiana, Baton Rouge, Louisiana, to spur tech-based entrepreneurial growth. This EDA investment will allow Nexus Louisiana to increase planning, outreach, and training assistance to tech-based startups through its Ignition Accelerator and Venture Capital Assistance…