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Fed Chairman Says Low-Income Lending Rules Should Expand to All Firms Offering Credit

  • Federal Reserve Chairman Jerome Powell gives remarks suggesting that the Community Reinvestment Act should be reformed
  • Law requires banks to serve customers of all income levels and was originally established as an anti-discrimination measure
  • Modernizing the law would extend it to other institutions offering consumer credit
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KKR Small Business Builders Grant Program Open to Applications Until June 2

  • KKR Small Business Builders offering $10,000 grants
  • Grants are designed to help small business owners address challenges brought on by COVID-19
  • Applications must be submitted by June 2
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Business News Roundup, May 4, 2021

An alliance between the SBA and a mayors' group, higher freight costs, reduced impulse buys, and a Connecticut milestone in COVID-19 vaccinations are among the morning's top business news items. National U.S. Small Business Administrator Isabella Guzman held a virtual…

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How Would a National Paid Leave Plan Impact Connecticut’s Program?

  • White House has proposed a national program for paid family and medical leave
  • The plan includes some similarities to Connecticut’s paid family and medical leave program, which is currently being funded through payroll deductions and goes into effect next year
  • Several questions have not yet been addressed regarding a national paid leave program, including whether it would supersede state programs
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Report Examines the Carbon Cost of Green Energy

  • Analyst issues report unraveling the carbon costs of green energy options such as solar or wind
  • Raw material extraction and production creates up-front carbon costs, but renewables have a considerably lower carbon footprint than coal or natural gas
  • Nuclear energy has a slightly lower carbon footprint than wind, but ongoing innovations could tip the balance
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Proposed House Bill Looks to Reduce Risk For Small Construction Firms That Participate in Federal Contracts

  • Bipartisan proposal in House Small Business Committee seeks to add protections and reduce risk for small subcontractors on federal projects
  • Smaller firms often find that subcontracting with a prime contractor is the easiest way to access federal work
  • Bill would exempt surety bond requirements from inflation adjustments
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Quinnipiac University Establishes Three “Green Degree” Programs

  • Quinnipiac University launches three new “green degree” tracks
  • Students can choose to major in issues related to environmental studies, science, or policy
  • New majors aim to bring attention to “what is unquestionably one of the most critical issues of our day”
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Restaurant Revitalization Fund Application Portal Opens at Noon Today

  • Restaurant Revitalization Fund to begin accepting applications at noon today
  • Fund has $28.6 billion in grants available to food and drink establishments severely impacted by the COVID-19 pandemic
  • Applicants can receive as little as $1,000 or as much as $10 million
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Business News Roundup, May 3, 2021

Growing inflation concerns, a COVID-19 vaccine milestone, a glut of digital health startups, a Connecticut budget surplus, easing business restrictions in Connecticut, and preparations for a return to live entertainment are among the top business news items this morning. National…

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Study Finds That COVID-19 Pandemic Has Eased Perceived Stigma About Taking Leave

  • The Hartford finds that employees’ perception of their company’s leave programs and other benefits has improved during the COVID-19 pandemic
  • Thirty-one percent of employees continue to be concerned that they might face repercussions if they take the leave offered by their company
  • Three-quarters of employers say they have expanded or added benefits
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