SBA: Research Sheds New Light on Small Business Exporters
Today, the U.S. Small Business Administration (SBA) released new findings from a commissioned study on the Total Addressable Market (TAM) of small business exporters in America. Among the key findings from the study is new data, based on recent business surveys, that places the number of exporting small businesses at 1.3 million – an almost fivefold increase over the estimates…
CDFI Fund: Application Demand for CY 2022 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 197 applications for the calendar year (CY) 2022 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…
CDFI Fund: Annual Compliance, Certification and Reporting Obligations Reminder
Are you the Authorized Representative of an organization that has received a Community Development Financial Institutions Fund Award (CDFI Fund) Award and/or Allocation? If so, don’t forget that in order to maintain compliance with your Assistance and/or Allocation Agreement(s) you must complete and submit the annual compliance report(s) as specified in your agreement(s). Failure to…
CFPB: Research Uncovers Illegal Junk Fees on Bank Accounts, Mortgages, Student Loans, and Auto Loans
Many companies are updating practices and making consumers whole based on supervisory findings Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights that reports on unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets, including in mortgage, student, and payday lending. These unlawful fees corrode…
CDFI Fund: 2023 Annual Certification & Data Collection Report Guidance Materials and Conference Call Announced
The Community Development Financial Institutions Fund (CDFI Fund) has released updated information for Certified Community Development Financial Institutions (CDFIs) regarding the 2023 reporting round for the Annual Certification and Data Collection Report (ACR). The CDFI Fund has updated the supporting information for the ACR to reflect the changes made for the 2023 reporting round, which…
CFPB: New Findings Published on Financial Profiles of Buy Now, Pay Later Borrowers
Report finds consumers using Buy Now, Pay Later were more likely to be using credit cards, payday loans, and other high-interest financial services The Consumer Financial Protection Bureau (CFPB) has published a new report analyzing the financial profiles of Buy Now, Pay Later borrowers. While many Buy Now, Pay Later borrowers use the product without…
Census Bureau: Household Pulse Survey Phase 3.8 Announced
The U.S. Census Bureau today announced the beginning of data collection for phase 3.8 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to inform federal and state response and recovery planning by providing near real-time data on the social and economic effects of the…
CFPB: New CFPB Issue Spotlight Examines High Fees that Chip Away at Public Benefits
Recipients of public cash assistance programs can be subjected to inadequate customer service and fees that cut into benefits The Consumer Financial Protection Bureau (CFPB) released a new issue spotlight examining how the financial products used to deliver public benefits, like Social Security and unemployment compensation, affect individuals’ ability to fully access the assistance provided…
Census Bureau: New Dashboard Released to Explore Impacts of Federal Broadband Investments on Local Communities
The U.S. Census Bureau, in partnership with the National Telecommunications and Information Administration (NTIA), today announced the launch of the ACCESS BROADBAND Dashboard. ACCESS BROADBAND stands for Advancing Critical Connectivity Expands Service, Small Business Resources, Opportunities, Access, and Data Based on Assessed Need and Demand Act. The new data tool shows how changes in broadband infrastructure…
FHFA: U.S. House Prices Rise 8.4 Percent over the Last Year; Up 0.3 Percent from the Third Quarter 2022
U.S. house prices rose 8.4 percent between the fourth quarters of 2021 and 2022, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 0.3 percent compared to the third quarter of 2022. FHFA’s seasonally adjusted monthly index for December was down 0.1 percent from November. “House price appreciation continued to wane in the…