Census Bureau: Third Phase of Household Pulse Survey Announced
The U.S. Census Bureau today announced data collection is underway for the third phase of the experimental Household Pulse Survey. The Office of Management and Budget last month approved the Census Bureau’s request to continue the survey. No changes were made to the questionnaire for this phase. Data will be released on a biweekly basis from Nov. 18,…
Census Bureau: Third Phase of Small Business Survey Announced
The U.S. Census Bureau today announced the start of data collection for the third phase of the Small Business Pulse Survey. Results will be released weekly starting November 19, 2020, through January 14, 2021. No changes were made to the questionnaire for this phase. Data from the first and second phases of the Small Business Pulse…
Federal Reserve: Financial Profiles of Workers Most Vulnerable to Coronavirus-Related Earnings Loss in the Spring of 2020
Abstract: In spring 2020, the COVID-19 pandemic and related shutdowns had huge effects on unemployment. Using data from the Survey of Consumer Finances, we describe the financial profiles of US families whose workers were most vulnerable to coronavirus-related earnings losses in the spring of 2020, based on whether a particular worker was deemed “essential” and…
EDA: $3 Million in CARES Act Recovery Assistance Invested to Support Manufacturing Expansion Near Opportunity Zone in Sharp County, AR
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to Sharp County, Arkansas, to renovate and rebuild a manufacturing facility and boost county economic diversification and resiliency efforts. The EDA grant, to be located near a Tax Cuts and Jobs…
OCC: Key Provisions of the June 2020 CRA Rule and Frequently Asked Questions
Summary The Office of the Comptroller of the Currency (OCC) published in the Federal Register on June 5, 2020, a final rule1 (June 2020 rule) that strengthens and modernizes the agency’s regulations under the Community Reinvestment Act (CRA). This bulletin summarizes key provisions of the June 2020 rule, which became effective October 1, 2020. This bulletin provides responses…
OCC: Report on Key Risks, Effects of COVID-19 in Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2020. Banks remain in strong financial condition but profitability is stressed due to low interest rates and increasing…
FEMA: Five Additional Louisiana Parishes Designated for Individual Disaster Assistance
Homeowners and renters in Beauregard, Lafayette, Rapides, St. Landry and St. Martin parishes may now apply for federal disaster assistance for uninsured and underinsured damage and losses resulting from Hurricane Delta. To be eligible for federal disaster aid, storm damage and losses from the hurricane and flooding must have occurred as a result of Delta…
FDIC: New Report Highlights the Contributions of Community Banks to the Paycheck Protection Program
An analysis of call report data from FDIC-insured banks finds that community banks are playing a vital role in supporting small businesses through the Small Business Administration’s Paycheck Protection Program (PPP). Community banks hold nearly a third of all bank-held PPP loans, compared to holding only 15 percent of all bank loans, according to a…
FEMA: President Trump Approves Major Disaster Declaration for Puerto Rico
FEMA announced that federal disaster assistance has been made available to the Commonwealth of Puerto Rico to supplement recovery efforts in the areas affected by a severe storm and flooding on Sept. 13. The President’s action makes federal funding available to affected individuals in the Municipality of Arecibo. Assistance can include grants for temporary…
CDFI Fund: 2019 Annual Certification and Data Collection Summary Report Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a summary snapshot report from the fiscal year (FY) 2019 Annual Certification and Data Collection Report (ACR) reporting cycle. Community Development Financial Institutions (CDFIs) must submit an ACR on an annual basis within 90 days of the end of their…