Industry News - October 2, 2018

October 2, 2018

Warren Wades into CRA Overhaul with Revamp Plan of Her Own 

Senator Elizabeth Warren, D-Mass., threw a new twist into efforts to reform the Community Reinvestment Act. 

Source: American Banker 

Opportunity Zones: An Opportunity to Apply Lessons Learned from the New Markets Tax Credit Program 

The IRS is currently working on guidance on how the qualified opportunity zone benefit under Internal Revenue Code will be administered. 

Source: Novogradac & Company LLP 

Gig-Economy Workers are the Modern Proletariat

Reports from the International Labor Organization found that last year the average worker on five such platforms earned $4.43 per hour. 

Source: Bloomberg 

Credit Unions Fire Back at Elizabeth Warren’s CRA Plan 

Credit unions are fighting back against Sen. Elizabeth Warren’s proposal to subject them to the Community Reinvestment Act. 

Source: Credit Union Journal 

Foundations and Nonprofit Offer Support to Entrepreneurs of Color 

Foundations are addressing the minority credit gap by investing in nonprofits that support businesses owned by entrepreneurs of color. 

Source: Nonprofit Quarterly 

The State of Black Women-Owned Businesses 

According to American Express research advisor Geri Stengel, The number of firms owned by African-American women has grown by 164% since 2007. 

Source: Black Enterprise

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