President Biden Announces a Special Prosecutor Will Investigate PPP Loan Fraud 

During his State of the Union speech, President Biden announced he would appoint a special prosecutor to investigate pandemic-related financial crimes. The move comes as the Department of Justice prosecutes cases on those who falsified paperwork to receive loans meant to assist small businesses.  

Source: Yahoo! News 


Small Businesses Should Prepare for Cyber Attacks Due to Ukraine Conflict 

Federal officials warned small business owners to prepare for possible Russian cyber attacks. The attacks could come as retaliation for U.S. sanctions against Russia for their invasion of Ukraine. 

Source: USA Today  


New Pentagon Strategy Forthcoming to Bring in Small Businesses 

A new Pentagon strategy starts later this spring to encourage more small business participation in defense contracting. The goal is to reduce barriers and attract more first-time and non-traditional companies.  

Source: Defense News 


New Initiative Aims to Help Increase Ad Spend with Diverse Media Owned Companies 

Nielsen recently launched the Diverse Media Equity Program to alleviate some of the roadblocks that diverse media companies can face when attracting investment from advertisers and their agencies. Nielsen is also offering pro-bono consulting for companies to understand media measurement and agency investment. 

Source: Morning 


Less Than 1% of FDIC Insured Banks Are Black Owned 

As consolidation in the banking industry continues, FDIC-insured banks that are Black-owned are becoming harder to find. According to the Federal Deposit Insurance Corporation, there are only 20 Black-owned banks that qualify as Minority Depository Institutions.