Industry News – February 3, 2022

U.S. Consumer Watchdog Group Investigating Bank Fees 

The Consumer Finance Protection Bureau is seeking public comments on what they call “junk fees” imposed by banks onto their customers. The group feels that many banks are still too reliant on overdraft and late fees aimed at consumers as a profit source. 

Source: Reuters  

 

Fort Worth Launches New CDFI to Help Underserved Business Owners 

The city of Fort Worth, Texas, has committed $3 million to run CDFI Friendly Fort Worth, which will serve as a liaison between CDFIs and the city’s underserved borrowers. The goal is to eventually bring up to $250 million to the program in the next five years. 

Source: Fort Worth Star-Telegram 

 

Six Ways to Attract and Retain More Women in Manufacturing  

Only one in four manufacturing leaders are women. In addition, women only make up 30 percent of the entire manufacturing workforce. Embracing new ideas for nurturing talent and enforcing accountability are keys to creating more diversity in this still male-dominated industry.  

Source: Entrepreneur.com 

 

New Latino Focused Organization Starts in Des Moines to Share Resources 

After seeing a need to help boost Latino-owned businesses in Des Moines, Iowa, six entrepreneurs started the Latino Trade Network. The goal of the organization is to hold monthly meetings to share resources in the local business community.  

Source: Iowa Public Radio 

 

PROPEL Expanding Funding for Wichita Based Businesses 

The PROPEL Small Business Fund, which provides loans for women and minority-owned businesses in Wichita, Kansas, is expanding. Eligible businesses can apply for up to $20,000 in grants from the program.

Source: KAKE ABC-TV