Mission-driven organizations are too frequently tied down by regulations that don’t fit their risk profile. Despite the fact that CDFIs had no substantial role in the latest mortgage bubble, they have been unduly burdened by the regulations created in the wake of the Great Recession.
Source: American Banker
A report by the Global Entrepreneurship Monitor is one of the first to thoroughly explore the economic impact of solo businesses. The authors’ summary has the potential to reshape the global conversation on small business and economic development in significant ways.
The investment firm largely targets businesses led by minorities, women, and veterans, along with companies in low- to moderate-income areas. The new funding will launch a lending initiative that targets companies with annual revenue of $1M – $5M.
The SBA recently issued a final rule that will implement changes to the HUBZone program that will make the program more attractive to small businesses and encourage them to invest in HUBZone communities and hire HUBZone residents.
Source: PR Newswire
Chairman Rodney Hood of the National Credit Union Administration will testify as part of federal regulators’ semi-annual testimony before financial committees in both chambers.
Source: Credit Union National Association