PayPal Launches Maggie Lena Walker Award 

The award is named in honor of the first Black woman to charter a bank and serve as its president in the U.S. and will recognize and promote the achievements of underrepresented women who are economically empowering those in their communities. Nominations will be accepted through July 16.

Source: PayPal


SBA Reconvenes the Council on Underserved Communities

In conjunction with the Biden-Harris Administration’s agenda, the restoration of the Council will help support the SBA’s prioritization of equity across its programs and initiatives.  the SBA is soliciting nominations from members from the public with a deadline of Tuesday, July 20, 2021. 

Source: GlobeNewswire


OCC’s True Lender Rule Undercuts Banking Regulations and Enables Predatory Lending

The OCC override of the true lender rule will allow payday lenders to claim preemption through “rent-a-bank” partnerships with banks that allow them to circumvent state usury laws. The Senate has voted to repeal the override through the Congressional Review Act; a House ruling is pending.

Source: The Brookings Institution


American Express Commits More Than $100 Million To Small Business Campaign

American Express announced that it has launched its new “Let’s Go Shop Small” campaign with more than a $100 million commitment to inspire consumers to support small businesses worldwide through its year-round Shop Small campaign.

Source: SGB Media