Financial Services

Addressing the other COVID crisis: Corruption 7/22/2020 Brookings The need for oversight of Trump administration coronavirus spending has reached an inflection point.[1] Over the past few weeks, there have been reports that 27 clients of Trump-connected lobbyists have received up to $10.5 billion of that spending;[2] that beneficiaries have also included multiple entities… Read more »

Watchdog urges Fed to extend more virus aid to states, small firms American Banker 07/20/2020 The Federal Reserve isn’t moving quickly enough to get loans to cash-strapped small businesses and local governments struggling to cope with the coronavirus crisis, according to a panel created to monitor billions of dollars in aid approved in response to the pandemic. U.S. central bank… Read more »

Watchdog Urges Fed to loan Extra Virus Assist to States, Small Corporations 07/20/2020 Fintech Zoom (Bloomberg) — The Federal Reserve isn’t shifting shortly sufficient to get loans to cash-strapped small companies and native governments struggling to deal with the coronavirus disaster, in line with a panel created to observe billions of {dollars} in help permitted in response to the… Read more »

Watchdog Urges Fed to Loan More Virus Aid to States, Small Firms   07/20/2020 NewsMax Finance The Federal Reserve isn’t moving quickly enough to get loans to cash-strapped small businesses and local governments struggling to cope with the coronavirus crisis, according to a panel created to monitor billions of dollars in aid approved in response to the pandemic. U.S. central… Read more »

Fed, Treasury using virus aid funds sparingly: oversight panel   Roll Call 07/20/2020 Lending facilities set up by the Federal Reserve and Treasury Department to avoid a coronavirus-related credit crunch have distributed about $14 billion out of $500 billion Congress approved in a March aid bill. The light activity of the 11 emergency lending facilities was the main topic of a… Read more »

Watchdog Urges Fed To Loan More Virus Aid to States, Small Firms   Bloomberg BNN 07/20/2020 (Bloomberg) -- The Federal Reserve isn’t moving quickly enough to get loans to cash-strapped small businesses and local governments struggling to cope with the coronavirus crisis, according to a panel created to monitor billions of dollars in aid approved in response to the… Read more »

Most of $500 billion earmarked for coronavirus-related loan programs has not been spent   The Washington Times 07/20/2020 Most of the $500 billion in coronavirus stimulus funds that had been earmarked for emergency Treasury Department and Federal Reserve loan programs had yet to be spent as of last week, according to a report released on… Read more »

Lawmakers call for more scrutiny over $700 million Treasury Dept. loan to U.S. trucking company 7/20/2020 The Washington Post A bipartisan congressional oversight body is raising questions about a $700 million emergency loan awarded by the Treasury Department to a U.S. trucking company. Earlier this month, Treasury Secretary Steven Mnuchin announced that taxpayers… Read more »

Troubling streak for the labor market 07/17/2020 Politico Troubling streak for the labor market — Jobless claims have come in higher than a million — and more than double the worst week of the Great Recession — for 17 straight weeks. Last week, initial claims totaled 2.4 million, including the self-employed and gig workers, just a couple of weeks away from the… Read more »

Little Rock, Ark. — The U.S. Department of Labor awarded $450,000 to the State of Arkansas to support activities that improve its ability to serve, improve, and expand the Registered Apprenticeship Program model by strengthening the national apprenticeship system, promoting system alignment and partnership, and improving data sharing and data integrity. “As the Co-Chair of the… Read more »