ABA: Eight Banks Win 2023 Community Commitment Awards
The American Bankers Association Foundation today named eight banks as 2023 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 Nashville, Tenn. on Oct. 10. The selection committee, made up of…
SBA: New Entrepreneurship Training Course Introduced for Military Spouses
Today, the U.S. Small Business Administration (SBA) launched a new business training program tailored to military spouses entitled “The Military Spouse Pathway to Business Program.” The program supports the recent White House Executive Order 14100, which strengthens economic opportunity for military and Veteran spouses, caregivers, and survivors. “The Biden-Harris Administration is working hard to create more economic opportunities for military families,…
ABA: Foundation Announces Partnership with AMBA to Improve Financial Health of America’s Veterans
The ABA Foundation today announced the signing of a formal agreement with the Association of Military Banks of America (AMBA) to support the Veterans Benefits Banking Program (VBBP) and its goal of ensuring that America’s veterans have safe and easy access to their monetary benefits. The ABA Foundation will serve as AMBA’s 501(c)(3) non-profit fiscal sponsor for…
CFPB: New Report Identifies Issues with Increased Servicemember Use of Digital Payment Apps
Annual report also highlights other financial challenges facing the military community Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing military families. The report highlights the growth of digital payment app usage in the servicemember community, the unique risks to servicemembers from these services, and the potential…
SBA: Virtual Military Spouse Entrepreneur Summit Scheduled for May 25th
The U.S. Small Business Administration’s Office of Veterans Business Development will host a virtual Military Spouse Entrepreneur Summit in collaboration with the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes on Thursday, May 25, from 1-3:30 p.m. ET. This event furthers the priorities set forth by First Lady Jill Biden’s Joining Forces initiative. This free event will connect military spouses with…
CFPB: New Report Highlights Costly Credit Cards and Loans Provided to Medical Patients
Financial companies work with healthcare providers to sign patients up for specialty credit cards and other targeted financing products Today, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical credit cards, that are sold to patients as a way to alleviate the growing costs of medical care….
ABA: Foundation Accepting Submissions for Community Commitment Awards
The American Bankers Association Foundation is accepting submissions for its 11th annual Community Commitment Awards and encouraging banks of all sizes to enter their successful community initiatives. The awards, ABA’s highest honors for extraordinary community engagement, recognize innovative, high-impact bank programs that improve the quality of life for the communities they serve. The entry period for submitting…
CFPB: Rule Proposed to Establish Public Registry of Terms & Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights & Protections
Companies can use terms and conditions in non-negotiable form contracts to try to hide consumer harm, to stifle criticism about products and services, and to undermine consumer financial protection law Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to establish a public registry of supervised nonbanks’ terms and conditions in “take it or…
CFPB: Research Finds Members of Reserves and National Guard Paying Millions of Dollars in Extra Interest Each Year
Companies can take steps to better respect military borrower rights and ease financial burdens, particularly in higher interest rate environment Today, the Consumer Financial Protection Bureau (CFPB) released research revealing that Reserve and National Guard members called to active duty are paying an extra $9 million in interest every year because they are not always…
OCC: Agency Joins Military Spouse Partnership
The Office of the Comptroller of the Currency (OCC) affirmed its commitment to military families by joining the Military Spouse Employment Partnership (MSEP) at a ceremony today in Arlington, Va. MSEP is a Department of Defense program that connects military spouses with partner employers who have committed to recruit, hire, promote, and retain military spouses….