CFPB: New Research Finds Credit Report Disputes Far More Common in Majority Black and Hispanic Neighborhoods
Report Provides Additional Insight into Previously Observed Trends The Consumer Financial Protection Bureau (CFPB) today released research finding that consumers in majority Black and Hispanic neighborhoods, as well as younger consumers and those with low credit scores, are far more likely to have disputes appear on their credit reports. The new research is a part…
SBA: $44.8 Billion through Signature Small Business Lending Programs Announced
In fiscal year 2021, 7(a) and 504 loan programs provided more than 61,000 loans, but gaps in access to capital for underserved communities remain Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced the agency reached $44.8 billion in funding to small businesses through more than 61,000 traditional loans for fiscal year (FY) 2021. “In the midst…
EDA: Build Back Better Regional Challenge Applicants Announced Showing Incredible Enthusiasm for Transformational Investment in Regions Across the Country
529 Applications Received from Regions across all 50 States and Five Territories Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) announced that it has experienced strong interest in its American Rescue Plan Build Back Better Regional Challenge, receiving 529 applications from regions across all 50 states and five territories. The $1 billion Build Back…
Federal Reserve: Series of Diversity and Inclusion Conferences Announced for November
The Federal Reserve Board announced on Monday that it will host a series of diversity and inclusion conferences in November focused on the experiences that underrepresented groups have as they participate in the economy, the economics profession, central banking, and finance. Federal Reserve Board Chair Jerome H. Powell will provide opening remarks at each event….
ABA: Six Banks Win ABA Foundation’s 2021 Community Commitment Awards
Banks of all sizes earn banking industry’s highest honor awards for community programs The American Bankers Association Foundation named six banks as 2021 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in six specific categories ranging from affordable housing to economic inclusion. The winners will be recognized at ABA’s Annual Convention in…
EDA: $711,000 Invested to Support the Minority Business Development Initiative and Create Jobs in Charleston, SC
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $711,000 grant to the South Carolina Association for Community Economic Development, Charleston, South Carolina, to support minority business owners and help create jobs through the Minority Business Development Initiative. This EDA grant will be matched with $180,000 in local investment. “With an…
Census Bureau: New Community Resilience Data Equity Estimates Released
The U.S. Census Bureau today released the CRE for Equity data tool. In an easy-to-use dashboard, this new tool pulls together existing data to measure social vulnerability and equity gaps at the community level while providing context about the varying needs of different communities. To measure these concepts, in the summer of 2020, the Census Bureau launched…
SBA: $5.4 Million in Prizes Announced to Nearly 100 Awardees to Support Inclusive Entrepreneurship in the Innovation Ecosystem
Today, U.S. Small Business Administration Administrator Isabella Casillas Guzman announced 84 winners for the Growth Accelerator Fund Competition (GAFC) and eight winners for the Small Business Innovation Research (SBIR) Catalyst competition, a new component aimed at spurring investment in underrepresented communities within the innovation economy at scale, receiving a combined total of $5.4 million in awards. This important…
SBA: Awardees Announced for Two New Women’s Business Centers in Puerto Rico
The New Centers Will Increase Opportunities and Recovery Solutions for Women Entrepreneurs throughout the Island The U.S. Small Business Administration announced today the launch of two Women’s Business Centers (WBC) in Puerto Rico, hosted by Ana G. Méndez University, Gurabo Campus (UAGM-Gurabo), and Friends of Puerto Rico. The new centers will carry out the mission of helping…
FHFA: Equitable Housing Finance Plans for Fannie Mae and Freddie Mac Announced
Public input requested on how Enterprises can sustainably advance equitable housing finance Today, the Federal Housing Finance Agency (FHFA) is announcing that Fannie Mae and Freddie Mac (the Enterprises) will submit Equitable Housing Finance Plans to FHFA by the end of 2021. The Enterprises will update these plans annually. The plans will identify and address…