The U.S. House of Representatives passed a bill to extend a provision within the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that establishes streamlined bankruptcy procedures for small businesses. © Shutterstock The Small Business Reorganization Act in 2019 has already passed in the Senate, so now it moves to President Joe Biden’s desk […]
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Paxos, a blockchain infrastructure platform, launched a new service that allows financial advisor crypto trading within Paxos Crypto Brokerage. © Shutterstock This service allows broker-dealers to provide a wealth management solution to financial advisors to trade crypto on behalf of their clients. It will help advisors, and their clients overcome the barriers to accessing the […]
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U.S. Sens. John Hickenlooper (D-CO) and Susan Collins (R-ME) introduced legislation last week to make it easier for small businesses to offer retirement plans for their employees.© Shutterstock The Simplifying Small Business Retirement Savings Act Retirement Savings Act would allow companies administering Pooled Employer Plans to have the option of using directed trustees, an industry […]
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The California Governor’s Office of Business and Economic Development (GO-Biz) recently awarded 78 California Community Reinvestment Grants (CalCRG), totaling $35.5 million awarded to organizations statewide.© Shutterstock The funding allotment stems from cannabis tax revenue generated by the Adult Use of Marijuana Act and is structured to aid communities disproportionately impacted by the War on Drugs. […]
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U.S. Sen. Elizabeth Warren (D-MA) is detailing her 26-page report examining special purpose acquisition companies (SPACs) while advocating greater oversight of the publicly traded shell companies.© Shutterstock In September 2021, Warren and a group of colleagues forwarded correspondence to six creators of prominent SPACs to address concerns regarding abuses by SPAC creators and operators – […]
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Fintech firm Consilient officials are detailing the company’s effort to secure $3 million in private seed funding to aid financial crime prevention technology development.© Shutterstock “Criminals adapted during the pandemic and continue to evolve,” Consilient CEO and Co-Founder Gary Shiffman said. “But recent innovations in technology can empower those individuals and teams engaged in combating […]
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The U.S. Department of the Treasury awarded the first batch of funding awards for the State Small Business Credit Initiative (SSBCI), a program designed to increase access to capital for traditionally underserved small businesses and entrepreneurs. © Shutterstock The new, expanded SSBCI provides nearly $10 billion to states, the District of Columbia, territories, and Tribal […]
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The Senate Committee on Small Business & Entrepreneurship has advanced four bills to aid small businesses with broadband access, bolstering cybersecurity and federal regulation compliance.© Shutterstock The committee also approved a measure designed to help veterans, and their spouses, transition from the military to entrepreneurship. The Small Business Broadband and Emerging Information Technology Enhancement Act […]
Intercontinental Exchange has launched a Nature-Based Solutions (NBS) carbon credit futures contract. © Shutterstock The NBS future, which trades under the contract code NBT, delivers Verified Carbon Unit (VCU) credits certified under Verra’s Verified Carbon Standard (VCS) Agriculture, Forestry and Other Land Use (AFOLU) Projects with Climate, Community and Biodiversity (CCB) Certification, with vintages between […]
Federal bank regulatory agencies are working together to strengthen and modernize the Community Reinvestment Act (CRA).© Shutterstock The CRA was enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI) neighborhoods. “The last major revisions to the CRA regulations were made in 1995. […]
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