Here Are The 298 Costliest Rules In The New Unified Agenda Of Federal Regulations forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Federal Activities:
On March 12, the U.S. Department of the Treasury announced that American Rescue Plan Economic Impact Payments will begin rolling out to millions of Americans in the coming weeks. For more information, click
On March 11, President Joe Biden signed the $1.9 trillion American Rescue Plan Act into law, which will send aid to millions of Americans impacted by the COVID-19 pandemic. The American Rescue Plan provides $1,400 direct payments to individuals making up to $75,000 annually, $350 billion in aid to state and local governments, and $14 billion for vaccine distribution. The bill also provides $130 billion to elementary, middle, and high schools to assist with safe reopening. For more information, click
[co-author: Stephen Kim]
REGULATORY DEVELOPMENTS
Treasury to Invest $9 Billion in Community Development Financial Institutions and Minority Depository Institutions Through Emergency Capital Investment Program
On March 4, the U.S. Department of the Treasury (Treasury) announced that it was opening the application process for the Emergency Capital Investment Program (ECIP) – a Congressionally authorized new program designed to provide long-term, low-cost equity and subordinated debt financing for participating institutions in order to support low-and-moderate income historically disadvantaged communities impacted by COVID-19. The program will invest $9 billion in capital directly to Community Development Financial Institutions (CDFIs) and minority depository institutions to support the provision of loans, grants, and forbearance for small and minority businesses and consumers in low income communities. This $9 billion investment will complement the $3 billion of grants being provi
<p><span>Federal bank regulatory agencies today announced an interim final rule that supports the Treasury Department s implementation of a program established by Congress to make capital investments in minority depository institutions and community development financial institutions.</span></p>