SBA: Plans Announced to Elevate the Office of Women’s Business Ownership
The proposed change reflects the importance of women entrepreneurs held by the Biden-Harris Administration and SBA Today, U.S. Small Business Administration Administrator Isabella Casillas Guzman announced that the SBA intends to elevate its Office of Women’s Business Ownership (OWBO) to directly report to the Office of the Administrator. Under Administrator Guzman, the SBA has expanded the number of Women’s…
CFPB: Final Rule Issued to Facilitate Transition from LIBOR
The Consumer Financial Protection Bureau (CFPB) today finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes requirements for how creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022. No new financial contracts may reference LIBOR as the relevant index…
CDFI Fund: Economic Mobility Corps Applications Due January 5, 2022
In September, the Community Development Financial Institutions Fund (CDFI Fund) announced the availability of up to $1.9 million in funding through the fiscal year (FY) 2022 round of the AmeriCorps CDFI Economic Mobility Corps (EMC), which is a joint initiative of the CDFI Fund and AmeriCorps that places full-time national service members in Certified Community Development Financial…
FDIC: Office of Supervisory Appeals Launched
On December 6, 2021, the FDIC’s new Office of Supervisory Appeals (Office) became fully operational and will begin to consider and decide appeals of material supervisory determinations. The new Office will enhance the independence of the FDIC’s supervisory appeals process and further the FDIC’s goal of ensuring consistency and accountability in the examination process. Highlights:…
OCC: Report Shares Risks and Effects of COVID-19 Pandemic on 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 2021. Banks are weathering the COVID-19 crisis with resilience and satisfactory credit quality and strong earnings, but weak…
OCC: Academic Papers and Research on Climate Risk in Banking and Finance Solicited
The Office of the Comptroller of the Currency (OCC) is soliciting academic-focused papers and policy-focused research on climate risk in banking and finance for presentation to the OCC on June 6-7, 2022. Information presented will inform the OCC’s approach to developing climate-related financial risk management guidance for regulated institutions. The June meeting will provide a…
Census Bureau: Small Business Pulse Survey Phase 7 Weekly Data Released
The U.S. Census Bureau today released new data from Phase 7 of the Small Business Pulse Survey (SBPS), which measures the effect of changing business conditions during the coronavirus pandemic, as well as other major events such as hurricanes on our nation’s small businesses. SBPS complements existing Census Bureau data by providing detailed, near real-time information on…
HUD: Additional $5.7 Million in American Rescue Plan Funds Made Available to Fight Housing Discrimination Related to the Coronavirus Pandemic
The U.S. Department of Housing and Urban Development (HUD) announced today that it is making an additional $5,757,663 in American Rescue Plan (ARP) funding available to help HUD Fair Housing Initiatives Program (FHIP) agencies combat housing discrimination related to the COVID-19 pandemic. Organizations that qualify for the funding, which is being awarded through FHIP’s Private…
EDA: $3 Million Invested to Support Supply Chain and Transportation Infrastructure in San Bernardino, CA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Inland Valley Development Agency (IVDA), San Bernardino, California, to make improvements to supply chain and transportation infrastructure. The project will enhance access and circulation at the San Bernardino International Airport to…