The House finalized on Tuesday the largest package of Wall Street banking reforms since the financial crisis, rolling back regulations on financial firms, from community banks to credit-reporting agencies.
The legislation — most commonly referred to as the Crapo bill after its author, the Senate banking committee chair Mike Crapo — is the result of more than a year of negotiations among House Republicans, Senate Republicans, and a group of Senate Democrats that support the measure.
The bill passed by a vote of 258 to 159 and will head to President Donald Trump's desk for his signature. He is expected to sign the legislation.
Proponents of the deregulation bill say the measure will free up regional banks to provide consumers access to credit and help boost the economy. Opponents, including many progressive Democrats, argue that the bill undermines crucial protections passed in the Dodd-Frank Act and could help lead to a repeat of the financial crisis. Read more..
The 10 Most Popular New Businesses for Entrepreneurs to Start. Read more
Britain doesn’t have a problem with start-up businesses – there were more than half a million new company launches last year alone from entrepreneurs with new ventures. Unfortunately, too few of these businesses survive for the medium to long term – and even smaller numbers grow to significant size. Data from the Scale Up Institute suggests there are around 31,000 scale-up businesses in the UK today – firms that meet the OECD’s high growth criteria – which is slim pickings given that we have seen more almost 3 million new businesses launched over the past five years. Read more..
From projects that increase access to capital to resources that increase disaster preparedness and relief, the Minority Business Development Agency is in search of innovative ideas that will benefit minority-owned businesses and will award up to $11.65 million in grants to fund and implement the projects across the country.
This year, the MBDA is including categories for formerly incarcerated persons and research projects to quantify and address the needs and challenges of minority businesses. “Recognizing the critical role of entrepreneurship in reducing recidivism and unemployment for released prisoners, the Agency saw an opportunity to support the Department of Commerce’s efforts to reduce crime, enhance public safety and improve the lives of all Americans through educational entrepreneurship programs,” MBDA said in a news release. Read more.
The mission of EDAC is to connect budding & existing entrepreneurs to resources for venture management & growth.