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. v. Federal Deposit Insurance Corporation…
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 be located in a Tax…
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 our communities advance their disaster…
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 had not yet shipped off…
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 Community Development Entities (CDEs) were…
FEMA: President Trump Approves Major Disaster Declaration for the Navajo Nation
FEMA announced that federal disaster assistance has been made available to the Navajo Nation to supplement tribal recovery efforts in the areas affected by a snowstorm and flooding on Feb. 21 to 24, 2019. The President’s action makes federal funding available to the tribe and certain private nonprofit organizations on a cost-sharing basis for emergency…
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’ agreement to dismiss the lawsuit,…
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, will be matched with $1.46…
EDA: Investment Made to Improve Critical Municipal Infrastructure in Oshkosh, WI
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $1.5 million to improve access to the multimodal trans-load terminal in Oshkosh, Wisconsin’s city-owned Southwest Industrial Park. The investment will be matched with $1.5 million in local funds and is expected to attract $5.2 million in private investment….
FEMA: President Trump Approves Major Disaster Declaration for Missouri
FEMA announced that federal disaster assistance has been made available to the state of Missouri to supplement state and local recovery efforts in the areas affected by severe storms, straight-line winds, and flooding on March 11 to April 16, 2019. The President’s action makes federal funding available to state, eligible local governments and certain private…