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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - March 2021 #2 | Troutman Pepper

Federal Activities:
On March 6, the U.S. Senate passed a $1.9 trillion COVID-19 relief package, which will now head back to the U.S. House of Representatives for approval. The stimulus package includes a provision that would end the current policy of considering any student debt forgiven taxable income. Currently, any student loan debt canceled by the government can be considered taxable and levied at the borrower’s normal income tax rate. For more information, click
On March 5, the Federal Reserve Board clarified guidance relating to definitions for minority depository institutions (MDIs), expanded the MDI definition to include women-owned financial institutions, and highlighted resources available to MDIs through its Partnership for Progress program. By law, the term “minority” means any Black American, Native American, Hispanic American, or Asian American. The definition of MDI is consistent with the statutory definition of “minority bank,” and states that an ....

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Treasury makes $9B investment in minority communities through Emergency Capital Investment Program

Treasury makes $9B investment in minority communities through Emergency Capital Investment Program
Published Sunday, Mar. 7, 2021, 11:50 am
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Front Page » Government/Politics » Politics2 » Treasury makes $9B investment in minority communities through Emergency Capital Investment Program
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U.S. Sen. Mark R. Warner (D-VA) this week applauded an announcement by the Treasury Department opening the application process for the Emergency Capital Investment Program.
ECIP is a new initiative designed to support access to capital in minority and low-income communities that have historically been excluded from the financial system and that have been the hardest-hit during the COVID-19 crisis. ....

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Financial Daily Dose 3.5.2021 | Top Story: Powell Tries to Sooth Jumpy Markets Fearing Weak Jobs Report | Robins Kaplan LLP

Jobs Report Friday again! Here’s what we’re looking for in the February numbers, which are expected to be relatively modest. ....

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Press Briefing by Press Secretary Jen Psaki and Secretary of Veterans Affairs Denis McDonough,

MS. PSAKI: Well, we have another very special guest today. Today we are joined by the Secretary of Veterans Affairs, my former boss, Denis McDonough,. ....

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Vaccinations, Senate Clerks, Myanmar: Your Thursday Evening Briefing

Vaccinations, Senate Clerks, Myanmar: Your Thursday Evening Briefing
Here’s what you need to know at the end of the day.
March 4, 2021
Image
1. Two million shots a day.
That’s what the U.S. average has reached. More mass vaccination sites are opening up as Pfizer and Moderna ramp up production and Johnson & Johnson begins shipments. Above, a vaccine line today at the Jacob Javits Convention Center in New York City.
Some health officials had worried that Johnson & Johnson’s one-shot vaccine might be viewed as inferior, but many now see it as the solution for vulnerable communities like homeless people, and plenty of Americans are clamoring for the convenience of a single shot. ....

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