EDA: $2 Million Invested for Water Infrastructure Improvements to Support Job Growth in Stuttgart, AR
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to Stuttgart Industrial Development Corporation in Stuttgart, Arkansas, for water infrastructure improvements to support job growth in the region. This grant will expand the water and sewer services at Stuttgart Industrial Park to support manufacturing…
EDA: $1.5 Million Invested to Capitalize Revolving Loan Fund to Support Small Businesses in Massachusetts
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the South Eastern Economic Development Corporation in Taunton, Massachusetts, to capitalize and administer a Revolving Loan Fund (RLF) serving small businesses across eight Massachusetts counties. This grant will support business start-ups and expansions, provide…
EDA: $1.3 Million Invested for Infrastructure Improvements to Support Agricultural Entrepreneurs in Cedar Rapids, IA
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to NewBo City Market in Cedar Rapids, Iowa, for infrastructure improvements to support agricultural businesses. This grant will support a renovation and expansion of the facility, driving workforce growth and supporting new small businesses. This…
EDA: $1 Million Invested to Boost Medical Workforce Training in Wichita, KS
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to Wichita State University (WSU) in Wichita, Kansas, to support medical workforce training in the region. This grant will provide state-of-the-art audiology equipment for WSU’s new biomedical training facility. This EDA investment will be matched…
EDA: $500,000 Invested to Boost the Growth of the Environmentally Sustainable Packaging Industry in Wisconsin
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to the University of Wisconsin-Stevens Point in Stevens Point, Wisconsin, to support expansion of the environmental sustainability of the packaging industry in Wisconsin. This grant will purchase new environmentally aware testing equipment to expand opportunities in the large packaging and…
OCC: Final Rule and Policy Statement on Bank Mergers Approved
The Office of the Comptroller of the Currency (OCC) today approved a final rule updating its regulations for business combinations involving national banks and federal savings associations and a policy statement clarifying its review of applications under the Bank Merger Act (BMA). The final rulemaking is part of the OCC’s effort to enhance transparency around…
CFPB: Action Taken to Stop Banks from Harvesting Overdraft Fees without Consumers’ Consent
Banks have charged overdraft fees for ATM and one-time debit card transactions even though they did not have customers’ documented consent Today, the Consumer Financial Protection Bureau (CFPB) published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements. Phantom opt-ins occur when banks claim they have…
ABA: Officers, Board Nominated for 2024–2025
The American Bankers Association’s Nominating Committee has finalized the official slate of candidates to be presented for election at the association’s annual meeting scheduled for Oct. 29 in New York City. The committee, chaired by Daniel D. Robb, president and CEO, Jonesburg State Bank, Jonesburg, Mo., nominated these candidates for ABA officer positions: The committee…
FEMA: $150 Million in Funding Announced to Enhance Resilience of Critical Infrastructure and to Protect Against Extreme Weather Events
FEMA Administrator Deanne Criswell today announced selections for a combined $150 million in capitalization grants to help communities reduce vulnerability to natural hazards. Funding through the Safeguarding Tomorrow Revolving Loan Fund Program will enable 10 states, a Tribal Nation and the District of Columbia to administer revolving loan funds that will help local governments carry out hazard…
Agencies Extend Comment Period on Request for Information on Bank-Fintech Arrangements
The federal bank regulatory agencies announced today that they will extend until October 30, 2024, the comment period on a request for information on bank-fintech arrangements involving banking products and services. The agencies are seeking input on the nature and implications of bank-fintech arrangements and effective risk management practices. Extending the comment period will allow…