EDA: Over $54 Million in American Rescue Plan Funds Invested Last Week
Last week, the following grants were made under the American Rescue Plan Funds program: August 16, 2022 – U.S. Department of Commerce Invests $6.4 Million in American Rescue Plan Funds to Develop a New Business Facility in Duffield, Virginia August 16, 2022 – U.S. Department of Commerce Invests $4.5 Million in American Rescue Plan Funds for Wastewater…
ABA: Brooke Ybarra Named as New Head of Office of Innovation
Brooke Ybarra has been named senior vice president of innovation and strategy at the American Bankers Association and will lead the group’s Office of Innovation. In this position, Ybarra will play a key role in helping ABA member banks keep pace with technological innovation by identifying promising startups and emerging technologies that benefit the banking…
FHFA: Office of Financial Technology Announced
Agency issues request for information on the role of technology in housing finance The Federal Housing Finance Agency (FHFA) today announced the establishment of the Office of Financial Technology. This Office will serve as a centralized source of information to support FHFA in addressing emerging risks and advancing Agency priorities related to the adoption and deployment…
CFPB: Special Regulatory Treatment for Payactiv Rescinded
Termination Follows Request by Company in Order to Change its Product The Consumer Financial Protection Bureau (CFPB) issued an order today terminating Payactiv’s Sandbox Approval Order relating to its earned wage access products. The CFPB had given Payactiv special regulatory treatment, including as to liability under a relevant federal consumer financial law with respect to…
EDA: $5.3 Million Invested to Support Tech-Based Business Growth in Grenada, MS
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $5.3 million grant to the Grenada County Board of Supervisors, Grenada, Mississippi, to bolster the region’s technology sector by improving access to Grenada Technology Park North. This EDA project will construct a four-lane access road into…
EDA: National Advisory Council on Innovation and Entrepreneurship Reestablished
32 Leaders in Technology, Innovation, Workforce Development, and Academia Appointed to Council Today, U.S. Secretary of Commerce Gina M. Raimondo announced the appointment of 32 leaders and experts to the National Advisory Council on Innovation & Entrepreneurship (NACIE). NACIE will be charged with developing a National Entrepreneurship Strategy that strengthens America’s ability to compete and win as…
CFPB: New Effort Launched to Promote Competition and Innovation in Consumer Finance
New Office Will Identify Obstacles for New Market Entrants The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. The office will replace the…
EDA: $2 Million Invested to Support Innovation and Technology Entreprenerus in Akron, OH
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Akron, Ohio, to expand and renovate its Bounce Innovation Hub, a business incubator facility. This investment will support more than 60 start-up businesses and entrepreneurs at the incubator through…
FDIC: James Madison University College of Business Wins FDIC’s Second Annual Academic Challenge
Undergraduate team selected for examination of the impact of COVID-19 on U.S. banks The Federal Deposit Insurance Corporation (FDIC) today announced a four-member team of undergraduate students from James Madison University College of Business won the agency’s Second Annual FDIC Academic Challenge, a competition among university and college students concerning the U.S. banking sector. The FDIC…