On Friday, July 12, 2024, the U.S. Department of the Treasury will host the annual Freedman’s Bank Forum in Raleigh, North Carolina. The event will feature U.S. Deputy Secretary of the Treasury Wally Adeyemo, Governor Roy Cooper, Biden-Harris Administration officials, and key leaders from various sectors. The forum aims to highlight efforts to increase economic opportunities for communities of color and showcase local success stories around Raleigh.
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data released the June 2024 Survey of Consumer Expectations, indicating a decline in inflation expectations at short- and longer-term horizons but a slight increase at the medium-term horizon. One-year-ahead expectations for home prices and specific goods prices also showed a decline.
The U.S. Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), has issued a Notice of Proposed Rulemaking (NPRM) to expand CFIUS’s jurisdiction over certain real estate transactions by foreign persons near specified military installations. This expansion follows legislation passed by Congress in 2018, granting CFIUS authority to review such transactions and take appropriate action when necessary.
The National Credit Union Administration (NCUA) has extended the deadline for applying for 2024 Community Development Revolving Loan Fund (CDRLF) grants to July 12. The agency will administer more than $3.4 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. The grants page on the NCUA’s website contains all necessary information for submitting an application. A webinar explaining how to apply for a CDRLF grant is available on the NCUA’s YouTube Channel.
The Carlyle Group Inc. (NASDAQ: CG) announced it will release its financial results for the second quarter of 2024 on Monday, August 5, 2024. A conference call to discuss these results is scheduled for 8:30 a.m. EDT and will be accessible via public webcast from the Events & Presentations section of ir.carlyle.com. A replay of the call will also be available post-completion.
Applications are now being accepted for the 2025 Community Investment Training program, a 16-week opportunity offered through the Federal Reserve Bank of Richmond's Rural Investment Collaborative. The training program aims to help community leaders across Maryland, North Carolina, South Carolina, Virginia, and West Virginia develop investment-ready community and economic projects in their local communities.
On Wednesday, July 10, U.S. Deputy Secretary of the Treasury Wally Adeyemo will travel to Philadelphia, Pennsylvania, to discuss how the Biden-Harris Administration’s economic agenda is creating good-paying clean energy jobs and continuing the historic small business boom by expanding access to capital.
The United States of America, the Republic of Indonesia, and four non-governmental organizations (NGOs) have signed debt-for-nature swap and coral reef conservation agreements under the Tropical Forest and Coral Reef Conservation Act (TFCCA). The agreements, signed on July 3, 2024, will reduce Indonesia’s debt payments to the United States Government by $35 million over the next nine years. In exchange, Indonesia has committed these funds to support grants aimed at protecting and restoring the country's coral reef ecosystems through a newly established conservation fund.
U.S. Secretary of the Treasury Janet L. Yellen held a call with United Kingdom Chancellor of the Exchequer Rachel Reeves today, congratulating her on her historic appointment as the first female Chancellor of the Exchequer. Secretary Yellen underscored the significance of the U.S.-UK bilateral relationship.
The Federal Reserve, the central bank of the United States, has released the minutes of the Federal Open Market Committee (FOMC) meeting held on June 11–12, 2024. The minutes were made available on Wednesday at 2:00 p.m. EDT.
The U.S. Department of the Treasury has announced the approval of plans for an additional $10 million in technical assistance (TA) funding allocated to four states, two territories, the District of Columbia, and one Tribal government under the American Rescue Plan Act’s State Small Business Credit Initiative (SSBCI) TA Grant Program. This includes the first SSBCI TA grant for a Tribal government.
The U.S. Department of the Treasury has announced the approval of Alabama’s state plan for up to $97 million in funding through the American Rescue Plan Act’s State Small Business Credit Initiative (SSBCI). The initiative provides financial support to states, the District of Columbia, territories, and Tribal governments to bolster small businesses and entrepreneurship by expanding access to capital.
The U.S. Department of the Treasury has announced the approval of plans for up to $65 million in funding allocated to 18 Tribal governments under the American Rescue Plan’s State Small Business Credit Initiative (SSBCI). This initiative marks the largest one-time investment for Tribal governments in small business financing in U.S. history.
Brussels — The EU–U.S. Joint Financial Regulatory Forum convened on June 25-26, 2024, with participants discussing various topics of mutual interest as part of their regular financial regulatory dialogue. The European Commission and the U.S. Department of the Treasury hosted the dialogue.
On Tuesday, June 25, the Office of the Vice President and the U.S. Department of the Treasury co-hosted a stakeholder meeting for the Initiative for Inclusive Entrepreneurship (IIE). This 18-month national pilot program was announced by Vice President Harris at Treasury’s 2022 Freedman’s Bank Forum to expand access to capital for small businesses that have lacked opportunity and need additional investment to grow and hire. IIE integrates philanthropic and private capital to enhance the impact of Treasury’s nearly $10 billion State Small Business Credit Initiative (SSBCI),...
Washington — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a Mexico-based money launderer and China-based members of a money laundering organization linked to the Sinaloa Cartel. This action is part of ongoing efforts to disrupt the flow of illicit narcotics into the United States, aligning with the President’s Unity Agenda.
The Federal Reserve Bank of Philadelphia announced the appointment of Peter Ruggiero, president and CEO of Crayola, to its Economic and Community Advisory Council (ECAC) today. Ruggiero succeeds Rich Wuerthele following his retirement from Crayola.
The National Credit Union Administration (NCUA) issued one consent and two prohibition notices in June 2024, permanently prohibiting three individuals from participating in the affairs of any federally insured depository institution.
