FDIC: Final Rule Issued Revising and Codifying Section 19 to Allow Greater Employment Opportunities for Individuals with Certain Minor Criminal Offenses
The Federal Deposit Insurance Corporation (FDIC) approved a final rule to revise and incorporate into the FDIC’s regulations a longstanding Statement of Policy (SOP) related to individuals with certain criminal offenses on their records who seek employment in the banking industry. Section 19 of the Federal Deposit Insurance Act (Section 19) prohibits any person from…
CFPB: Plan Announced to Issue ANPR on Consumer-Authorized Access to Financial Data
The Consumer Financial Protection Bureau (Bureau) today announced that it plans to issue an advance notice of proposed rulemaking (ANPR) later this year on consumer-authorized access to financial records. The announcement follows a symposium the Bureau held earlier this year on the topic, which included experts from consumer groups, fintechs, trade associations, financial institutions and…
HUD: Housing Choice Voucher Mobility Demonstration Announced
New pilot program aims to break generational cycles of poverty Today Secretary Ben Carson announced HUD’s new “Housing Choice Voucher Mobility Demonstration,” which aims to measure the impact of housing choice upon the economic condition of low-income families. Secretary Carson made the announcement at a news conference alongside Senator Todd Young, Former Congressman Sean Duffy,…
CDFI Fund: Information Requested on Small Dollar Loan Program
The Community Development Financial Institutions Fund (CDFI Fund) is currently seeking information from Certified Community Development Financial Institutions (CDFIs), Federally Insured Depository Institutions, trade organizations, and the general public about the Small Dollar Loan Program (SDLP). Authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203), SDLP was established to provide grants for Loan Loss Reserves…
EDA: $3.3 Million Invested to Expand Aviation Workforce Training Center at Southern Illinois Airport
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3.3 million grant to the Southern Illinois Airport Authority, Carbondale, Illinois, to construct an additional hangar at Southern Illinois Airport to house aerospace-focused workforce training programs. The EDA grant, to be matched with $829,879 in local investment,…
EDA: $1.2 Million Invested to Make Critical Infrastructure Improvements to Support Manufacturing in Iowa Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to the city of Perry, Iowa, to make critical roadway infrastructure improvements to support the expansion of manufacturing businesses in the region. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity…
EDA: $1.5 Million Invested to Make Critical Infrastructure Improvements to the Port of South Louisiana
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the Port of South Louisiana, Laplace, Louisiana, to make critical roadway infrastructure improvements to the Port’s Globalplex Intermodal Terminal, a maritime industrial park. The EDA grant, to be matched with $375,000 in local…
HUD: Secretary Carson Terminates 2015 Affirmatively Furthering Fair Housing Rule
Removal of rule returns power to localities in effort to advance fair housing nationwide U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced the Department will ultimately terminate the Obama Administration’s Affirmatively Furthering Fair Housing (AFFH) regulation issued in 2015, which proved to be complicated, costly, and ineffective— so much so…
EDA: $852,000 Invested to Make Critical Infrastructure Improvements to Spur Industrial Growth in Yuma, AZ
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $852,000 grant to the city of Yuma, Arizona, to construct a sewer system to serve an industrial area that will support commercial and industrial business enterprises. This EDA grant, to be matched with $213,000 in local funds, is expected to create 500…
EDA: $3.3 Million Invested to Rebuild Aiport Hanger Buildings Damaged by Hurricanes Near Opportunity Zone in Cateret County, NC
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a nearly $3.3 million grant to the Carteret County-Beaufort Airport Authority, Beaufort, North Carolina, to rebuild airport hangar buildings damaged and destroyed by Hurricanes Florence and Dorian. The EDA grant, to be located near a Tax Cuts and Jobs…