FDIC: New National Survey Finds that Despite COVID-19 Pandemic, Record 96% of U.S. Households Were Banked in 2021

Latest FDIC national survey finds record low six million households remain unbanked Despite unprecedented economic challenges posed by the COVID-19 pandemic, nearly 96 percent of U.S. households were banked in 2021, according to the latest national survey released today by the Federal Deposit Insurance Corporation (FDIC). The FDIC’s 2021 National Survey […]

ABA: New Partnership Between ABA and National Bankers Association Announced to Serve Minority Depository Institutions

The American Bankers Association and the National Bankers Association today announced a new series of semiannual MDI partnership summits designed to connect midsize and regional banks with minority depository institutions (MDIs) across the United States. Sponsored by ABA’s Minority Depository Institutions Advisory Council (MDIAC), the summits will begin in 2023 and will be […]

EDA: 51 “Build to Scale” Grants Totaling $47 Million Announced to Fuel Innovation and Tech-Based Economic Development

Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding 51 “Build to Scale” grants – totaling $47 million – to organizations that support technology entrepreneurs, catalyze innovation and fuel economic growth. EDA’s “Build to Scale” program provides annual grants that aim to accelerate technology entrepreneurship by […]

HUD: FHA Takes New Step to Explore Increasing Availability of Small Balance Mortgages

Request for Information published today seeks industry input as a starting point to encourage greater origination of small balance mortgages for FHA insurance.  The Federal Housing Administration (FHA) is announcing today the publication of a Request for Information (RFI) in the Federal Register seeking input on ways it can facilitate increased access to smaller […]

SBA: $7.2 Million in PRIME Grants Awarded to Help Emerging Micro-Entrepreneurs Gain Access to Capital

Grants Will Help 38 Small Business Support Organizations Provide Technical Assistance and Training Services to Economically Disadvantaged Businesses, Rural Small Businesses, and Foreign Language Entrepreneurs   Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced a $7.2 […]

SBA: Groundbreaking Partnerships Announced to Connect Small and Disadvantaged Businesses to Infrastructure Programs

DOT Will Host Business Forum to Improve Access to Capital and Resources in the Bipartisan Infrastructure Law Today, U.S. Small Business Administration (SBA), the USDOT Office of Small and Disadvantaged Business Utilization (OSDBU) and the US Department of Commerce Minority Business Development Agency (MBDA) announced partnerships to help small and disadvantaged businesses […]

ABA: Seven Banks Win ABA Foundation’s 2022 Community Commitment Awards

The American Bankers Association Foundation named seven banks as 2022 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized at ABA’s Annual Convention in Austin, Texas on Oct. 4. The selection […]

Congress: Congresswoman Waters Introduces Legislation to Strengthen the CRA and End Modern-Day Redlining

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services introduced H.R. 8833, the “Making Communities Stronger Through the Community Reinvestment Act.” This transformative piece of legislation is a part of Chairwoman Waters’ continuing efforts to root out discrimination in our modern-day banking system and close the racial wealth […]

SBA: New Collaboration with Operation HOPE Announced in Los Angeles Aimed at Empowering Black-Owned Small Businesses

Through New Alliance, Administrator Guzman, CEO Bryant, and Local Stakeholders Will Join Forces to Raise Awareness of Tools and Resources to Benefit Entrepreneurs from Underserved Communities Across the Nation Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses […]

HUD: $1 Million Loan Guarantee for Allentown, PA Minority-Owned Distillery Announced

The U.S. Department of Housing and Urban Development (HUD) today announced a $1 million loan guarantee for a distillery and manufacturing facility in Allentown, PA’s East Side. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the construction of a major […]