Industry News – October 2, 2018
October 2, 2018
Warren Wades into CRA Overhaul with Revamp Plan of Her Own
Senator Elizabeth Warren, D-Mass., threw a new twist into efforts to reform the Community Reinvestment Act.
Source: American Banker
Opportunity Zones: An Opportunity to Apply Lessons Learned from the New Markets Tax Credit Program
The IRS is currently working on guidance on how the qualified opportunity zone benefit under Internal Revenue Code will be administered.
Source: Novogradac & Company LLP
Gig-Economy Workers are the Modern Proletariat
Reports from the International Labor Organization found that last year the average worker on five such platforms earned $4.43 per hour.
Credit Unions Fire Back at Elizabeth Warren’s CRA Plan
Credit unions are fighting back against Sen. Elizabeth Warren’s proposal to subject them to the Community Reinvestment Act.
Source: Credit Union Journal
Foundations and Nonprofit Offer Support to Entrepreneurs of Color
Foundations are addressing the minority credit gap by investing in nonprofits that support businesses owned by entrepreneurs of color.
Source: Nonprofit Quarterly
The State of Black Women-Owned Businesses
According to American Express research advisor Geri Stengel, The number of firms owned by African-American women has grown by 164% since 2007.
Source: Black Enterprise