Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries

U.S. Department of the Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries | site |




Information contained in U.S. Department of the Treasury press release dated: May 19, 2022 Washington - - Today, the U.S. Department of the Treasury announced the first group of plans approved under the new round of the State Small Business Credit Initiative (SSBCI). The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for traditionally underserved small businesses and entrepreneurs. The new SSBCI builds on this successful model by providing nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and promote entrepreneurship, especially in traditionally underserved communities...

Federal Reserve Board finalizes Rule that governs Funds Transfers over the Federal Reserve Banks' FedNow Service | site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 19, 2022 The Federal Reserve Board on Thursday finalized a rule that governs funds transfers over the Federal Reserve Banks' FedNow℠ Service. The final rule is substantially similar to the proposal from last year, with a few clarifications in response to comments. The FedNow Service is a new 24x7x365 interbank settlement service with clearing functionality to support instant payments in the United States and is expected to be available in 2023. The final rule provides a comprehensive set of rules governing funds transfers over the FedNow Service and provides legal certainty and clarity on the rights and obligations of parties to a transfer over the FedNow Service. ...

Transcript of Press Conference from Secretary of the Treasury Janet L. Yellen in Bonn, Germany | site |



Information contained in U.S. Department of the Treasury press release dated: May 18, 2022

Transcript of Press Conference from Secretary of the Treasury Janet L. Yellen in Bonn, Germany

May 18, 2022 Thank you for being here. This has been a very productive week already, and I am looking forward to the G7 Ministerial here in Bonn this week. First, I’d like to thank Minister Lindner for his leadership. I have spent the week in Warsaw and Brussels before arriving here in Bonn. The backdrop against this trip is, of course, Russia’s illegal and unprovoked war against Ukraine. My thoughts continue to be with the people of Ukraine as they fight back against Putin’s brutal invasion into their homeland. I was honored to join and hear from refugees that have been welcomed to Poland who we...

Agencies announce Public Meeting on Proposed Acquisition by The Toronto-Dominion Bank of First Horizon Corporation; Public Comment Period Extended | site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 17, 2022

Board of Governors of the Federal Reserve System

Office of the Comptroller of the Currency

The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) today announced a joint public meeting on the proposal by The Toronto-Dominion Bank, Toronto, Ontario, Canada, to acquire First Horizon Corporation, Memphis, Tennessee.

The purpose of the public meeting is to collect information from a wide range of stakeholders as the agencies evaluate the proposed applications. By law, the agencies are required to evaluate:

• the convenience and needs of the communities to be served by the combined organization;
• the insured

...

U.S. Securities and Exchange Commission Obtains Emergency Relief to Halt allegedly Pre-IPO Stock Fraud Scheme by allegedly Unregistered Broker-Dealer | site |



Allegedly, defendants, including persons barred from the brokerage industry, allegedly sold shares they didn’t own, and pocketed more than $75 million


Information contained in U.S. Securities and Exchange Commission (SEC) press released dated: May 16, 2022 Washington D.C., May 16, 2022 - - The Securities and Exchange Commission today announced that it obtained asset freezes and other emergency relief against StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D. Lachow (collectively, the defendants) to halt ongoing securities violations, including allegedly selling pre-initial public offering (IPO) shares they did not own, pocketing undisclosed fees, and commingling investor fu...

Lorie K. Logan Named President and CEO of Dallas Fed | site |



Logan Currently Leads the Fed’s Implementation of Monetary Policy at the New York Fed

Watch on YouTube

Information contained in Board of Governors of the Federal Reserve System press release dated: May 11, 2022 Dallas - - The Federal Reserve Bank of Dallas today announced the appointment of Lorie K. Logan as president and chief executive officer. In this role, Logan will represent the Eleventh Federal Reserve District on the Federal Open Market Committee in the formulation of U.S. monetary policy and will lead the 1,200 employees of the Dallas Fed. She will begin her role as presi...

Agencies Release Revised Interagency Questions and Answers regarding Flood Insurance| site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 11, 2022


Board of Governors of the Federal Reserve System
Farm Credit Administration
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency


Five federal regulatory agencies today jointly issued revised questions and answers (Q&As) regarding federal flood insurance law and the agencies' implementing regulations. These Q&As replace those originally published by the agencies in 2009 and 2011 and consolidate Q&As proposed by the agencies in 2020 and 2021. The revised Q&As reflect significant changes to the flood insurance requirements made by federal law in recent years. The Q&As cover a broad range of technical flood insurance topics, including the escrow ...

Remarks by U.S. Secretary of the Treasury Janet L. Yellen at the Atlantic Council’s Distinguished Leadership Awards | site |




Information contained in U.S. Department of the Treasury press release dated: May 11, 2022

Remarks by Secretary of the Treasury Janet L. Yellen at the Atlantic Council’s Distinguished Leadership Awards

May 11, 2022

As Prepared for Delivery I am deeply honored to present the Distinguished Leadership Award to my friend and long-time colleague, a gifted economist and a tireless civil servant—the Prime Minister of Italy, Mario Draghi. I really got to know Mario over dozens of dinners at the Bank for International Settlements during the time that he served as the Governor of the Bank of Italy and then as President of the European Central Bank. This was no easy time in the world of central banking. The global economy was shaken by a financial crisis and the ensuing Great Recess...

Federal Trade Commission Joins Amicus Brief Opposing Liability Shield for Sloppy Credit Reports | site |



FTC Joins CFPB in Asking Second Circuit to Reverse Decision Inventing Defenses Against Liability for Data Brokers and other Consumer Reporting Agencies


Information contained in Federal Trade Commission (FTC) press release dated: May 6, 2022

The Federal Trade Commission has joined the Consumer Financial Protection Bureau in an amicus brief filed with the United States Court of Appeals for the Second Circuit in the case of Sessa v. TransUnion. The brief asks the court to overturn a lower court decision, which held that TransUnion was not liable for failing to investigate a wrongfully reported debt because the inaccuracy was “legal” and not “factual.” “The lower court’s decision not only disregards the plain language enacted by Congress, but also is a gift to data brokers that alread...

U.S. Securities and Exchange Commission Extends Comment Period for Proposed Rules on Climate-Related Disclosures, Reopens Comment Periods for Proposed Rules Regarding Private Fund Advisers and Regulation ATS | site |



Information contained in U.S. Securities and Exchange Commission (SEC) press release dated: May 9, 2022 Washington D.C., May 9, 2022 - - The Securities and Exchange Commission today announced that it has extended the public comment period on the proposed rulemaking to enhance and standardize climate-related disclosures for investors until June 17, 2022. The SEC also announced that it will reopen the comment periods on the proposed rulemaking to enhance private fund investor protection and on the proposed rulemaking to include significant Treasury markets platforms within Regulation ATS for 30 days. “Today, the Commission acted to provide the public with additional time to comment on three proposed rulemakings th...

Agencies issue joint Proposal to strengthen and modernize Community Reinvestment Act Regulations | site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 5, 2022

Board of Governors of the Federal Reserve System

Federal Deposit Insurance Corporation

Office of the Comptroller of the Currency Federal bank regulatory agencies today jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI) neighborhoods, in a safe and sound manner. Building on feedback from stakeholders and research, the agencies invite public comment on their joint proposal, which has the following key elements:...

Testimony of U.S. Secretary of the Treasury Janet L. Yellen before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate | site |






Information contained in U.S. Department of the Treasury press release dated: May 10, 2022

Testimony of Secretary of the Treasury Janet L. Yellen before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate

May 10, 2022

As Prepared for Delivery Thank you, Chairman Brown, Ranking Member Toomey, and Members of the Committee. I am pleased to speak with you today about the Financial Stability Oversight Council’s (Council) 2021 annual report. The report is a collaborative effort of the Council member agencies. It is a vehicle for providing Congress and the public with the Council’s collective assessments of potential risks to U.S. financial stability. Today, I will highlight a few topics in the report and provide an update o...

Plans for Reducing the Size of the Federal Reserve's Balance Sheet | site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 4, 2022

Consistent with the Principles for Reducing the Size of the Federal Reserve's Balance Sheet that were issued in January 2022, all Committee participants agreed to the following plans for significantly reducing the Federal Reserve's securities holdings.

• The Committee intends to reduce the Federal Reserve's securities holdings over time in a predictable manner primarily by adjusting the amounts reinvested of principal payments received from securities held in the System Open Market Account (SOMA). Beginning on June 1, principal payments from securities held in the SOMA will be reinvested to the extent that they exceed monthly caps.

For Treasury securities, the cap will initially be set at $30 billion per month and after three months will

...

Minutes of the Meeting of the Treasury Borrowing Advisory Committee May 3, 2022 | site |




Information contained in U.S. Department of the Treasury press release dated: May 4, 2022 May 4, 2022 The Committee convened in a closed session at the Department of the Treasury at 9:00 a.m. All members were present. Under Secretary for Domestic Finance Nellie Liang, Fiscal Assistant Secretary David Lebryk, Deputy Assistant Secretary for Federal Finance Brian Smith, Director of the Office of Debt Management Fred Pietrangeli, and Deputy Director of the Office of Debt Management Nick Steele welcomed the Committee. Other members of Treasury staff present were Chris Cameron, Dave Chung, Alexander Demyanets, Joshua Frost, Tom Katzenbach, Chris Kubeluis, Kyle Lee, Brett Solimine, Renee Tang, and Brandon Taylor. Federal Reserve Bank of New York staff members Susan McLaughlin, Monica Scheid, and Nathaniel Wuerffel were also present. Under Secretary Liang began the me...

Federal Reserve issues Federal Open Market Committee (FOMC ) Statement
| site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 4, 2022 Although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong. Job gains have been robust in recent months, and the unemployment rate has declined substantially. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures. The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The implications for the U.S. economy are highly uncertain. The invasion and related events are creating additional upward pressure on inflation and are likely to weigh on economic activity. In addition, COVID-related lockdowns in China are likely to exacerbate supply chain disruptions. The Committee is highly att...

U.S. Securities and Exchange Commission Nearly Doubles Size of Enforcement’s Crypto Assets and Cyber Unit | site |




Information contained in U.S. Securities and Exchange Commission (SEC) press release dated: May 3, 2022 Washington D.C., May 3, 2022 - - The Securities and Exchange Commission today announced the allocation of 20 additional positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats. The newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement will grow to 50 dedicated positions. "The U.S. has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," said SEC Chair Gary Gensler. "The Division of Enforcement’s Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take a...

U.S. Securities and Exchange Commission says Takeover Bid of Fortune 500 Company was a Sham | site |



Information contained in U.S. Securities and Exchange Commission (SEC) press release dated: April 5, 2022 Washington D.C., April 5, 2022 - - The Securities and Exchange Commission today charged Melville ten Cate, a U.S. citizen residing abroad, with fraud stemming from his allegedly phony offer to purchase Textron – a large U.S.-listed aircraft, defense, and industrial company. The SEC’s complaint, filed in federal district court in Manhattan, alleges that on November 9, 2020, ten Cate and Xcalibur Aerospace, Ltd., a now-defunct private company ten Cate controlled, placed an advertisement in The New York Times announcing a proposed purchase of all existing stock of Textron for $60.50 a share, a 56 percent premium over the stock’s previous closing price. As alleged, the advertisement led to a spike in Textr...

U.S. Department of Education says Biden-Harris Administration Extends Student Loan Pause Through August 31 | site |



Information contained in U.S. Department of Education press release dated: April 6, 2022 Today, the U.S. Department of Education (Department) announced an extension of the pause on student loan repayment, interest, and collections through August 31, 2022. While the economy continues to improve and COVID cases continue to decline, President Biden has made clear the continuing need to respond to the pandemic and its economic consequences, as well as to allow for the responsible phase-down of pandemic relief. The extension will provide additional time for borrowers to plan for the resumption of payments, reducing the risk of delinquency and defaults after restart. During the extension, the Department will continue to assess the financial impacts of the pandemic on student loan borrowers and to prepare to trans...

Minutes of the Federal Open Market Committee, March 15-16, 2022 | site |





Information contained in Board of Governors of the Federal Reserve System press release dated: April 6, 2022

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 15–16, 2022.

The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting.

FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm Minutes of the Federal Open Market Committee March 15-16, 2022: ...

U.S. Secretary of the Treasury Janet L. Yellen’s Meeting with Jamaican Prime Minister Andrew Holness | site |


Information contained in U.S. Department of the Treasury release dated: April 1, 2022 U.S. Secretary of the Treasury Janet L. Yellen met yesterday with Jamaican Prime Minister Andrew Holness, Finance Minister Nigel Clarke, and Foreign Affairs Minister Kamina Johnson Smith to underscore our countries’ close partnership and shared priorities for building climate resilience, strengthening sustainable infrastructure development, and promoting digitalization, all of which the Build Back Better World initiative advances. The Secretary welcomed Jamaica’s commitment to sustainable public finances, investment climate strengthening, and targeted social investments. The Secretary discussed the impact on Jamaica of the commodity shock triggered by Russia’s brutal invasion of Ukraine, including the President’s decision to tap the ...

U.S. Department of the Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries | site |




Information contained in U.S. Department of the Treasury press release dated: May 19, 2022 Washington - - Today, the U.S. Department of the Treasury announced the first group of plans approved under the new round of the State Small Business Credit Initiative (SSBCI). The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for traditionally underserved small businesses and entrepreneurs. The new SSBCI builds on this successful model by providing nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and promote entrepreneurship, especially in traditionally underserved communities...

Federal Communications Commission Announces Third Public Hearing on Broadband Consumer Labels | site |



Information published in Federal Communications Commission (FCC) release dated: May 19, 2022

The FCC today announced the third of a series of virtual public hearings as part of its broadband consumer labels rulemaking proceeding. The hearing will take place May 25, 2022, at 1:30 p.m. ET and will be streamed free to the public at fcc.gov/live .

To view the Public Notice may be viewed at https://docs.fcc.gov/public/attachments/DA-22-556A1.pdf or press HERE




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Federal Reserve Board finalizes Rule that governs Funds Transfers over the Federal Reserve Banks' FedNow Service | site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 19, 2022 The Federal Reserve Board on Thursday finalized a rule that governs funds transfers over the Federal Reserve Banks' FedNow℠ Service. The final rule is substantially similar to the proposal from last year, with a few clarifications in response to comments. The FedNow Service is a new 24x7x365 interbank settlement service with clearing functionality to support instant payments in the United States and is expected to be available in 2023. The final rule provides a comprehensive set of rules governing funds transfers over the FedNow Service and provides legal certainty and clarity on the rights and obligations of parties to a transfer over the FedNow Service. ...

Remarks by U.S. Secretary of the Treasury Janet L. Yellen at the Brussels Economic Forum | site |

Building on President Biden's Unity Agenda, Education Department Urges Colleges to Use American Rescue Plan Funds to Provide Mental Health Supports to Students | site |





Information contained in U.S. Department

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U.S. Food and Drug Administration Urges Drug Manufacturers to Develop Risk Management Plans to Promote a Stronger, Resilient Drug Supply Chain | site |




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U.S. Department of Housing and Urban Development announces $10.3 Billion in Grants for Housing and Community Development Activities across U.S. | site |


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Federal Trade Commission to Crack Down on Companies that Illegally Surveil Children Learning Online | site |







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IRS provides Guidance for Residents of Puerto Rico to claim the Child Tax Credit | site |

IRS Provee Guía para que Residentes de Puerto Rico reclamen Crédito Tributario por Niños | Enlazar |

IRS - - - A Closer Look: Expanding Access in Puerto Rico | site |









Information contained in U.S. Internal Revenue Service (IRS) press release dated: May 11, 2022

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U.S. Food and Drug Administration Roundup: May 17, 2022 | site |




Information contained in U.S. Food and Drug Administration (FDA) press release dated: May 17, 2022

|
Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:

• Today, the FDA published the FDA Voices: “FDA Seeks to Engage Stakeholders on Key Considerations for a Drug Quality Management Maturity Program,” Michael Kopcha, PhD, RPh, Director of the Office of Pharmaceutical Quality, Center for Drug Evaluation and Research (CDER) and Patrizia Cavazzoni, MD, Director of CDER. The FDA will hold a two-day workshop on May 24 and 25 for stakeholders to learn more about a quality management program and to engage with the agency. The workshop is hosted by the CDER’s Small Business and Industry Assistance and will include speakers and panelists from outside the FDA to discuss quality management maturity.

• On May 15, the FDA issued

...

U.S. Department of Labor to Offer Prevailing Wage Compliance Seminars Online for Federal Contractors, Contracting Agencies, Unions, Workers | site |




Online sessions throughout 2022 will increase participation


Information contained in U.S. Department of Labor press release dated: May 17, 2022

Washington - - The U.S. Department of Labor will offer online compliance seminars for contracting agencies, contractors, unions, workers and other stakeholders to provide information on the requirements governing payment of prevailing wages on federally funded construction and service contracts.

Offered by the department’s Wage and Hour Division, the seminars are part of the division’s ongoing effort to increase awareness and improve compliance with federal prevailing wage requirements.

The seminars will include on-demand video training on many Davis-Bacon and Related Acts and McNamara-O’Hara...

U.S. Office of Personnel Management Releases Skills-Based Hiring Guidance | site |



Guidance encourages federal agencies to value applicants based on what they can do—regardless of where they learned it


Information contained in U.S. Office of Personnel Management press release dated: May 19, 2022

Washington, D.C. – Today, the U.S. Office of Personnel Management (OPM) released guidance regarding the implementation of EO 13932; Modernizing and Reforming the Assessment and Hiring of Federal Job Candidates. OPM’s guidance represents a major step towards the federal government’s adoption of skills-based hiring practices and is an important innovation in federal hiring, which has historically relied on education and candidate self-assessments as a proxy for a candidate’s ability to perform in a job. This new approach helps hiring managers recognize and value skills regardless of where they were acquir...

Transcript of Press Conference from Secretary of the Treasury Janet L. Yellen in Bonn, Germany | site |



Information contained in U.S. Department of the Treasury press release dated: May 18, 2022

Transcript of Press Conference from Secretary of the Treasury Janet L. Yellen in Bonn, Germany

May 18, 2022 Thank you for being here. This has been a very productive week already, and I am looking forward to the G7 Ministerial here in Bonn this week. First, I’d like to thank Minister Lindner for his leadership. I have spent the week in Warsaw and Brussels before arriving here in Bonn. The backdrop against this trip is, of course, Russia’s illegal and unprovoked war against Ukraine. My thoughts continue to be with the people of Ukraine as they fight back against Putin’s brutal invasion into their homeland. I was honored to join and hear from refugees that have been welcomed to Poland who we...

U.S. Department of Education’s Office for Civil Rights Announces Resolution of Sexual Harassment Investigation of San Juan Bautista School of Medicine | site |

(Español)

Information contained in U.S. Department of Education press release dated: May 17, 2022 Yesterday, the U.S. Department of Education’s Office for Civil Rights (OCR) resolved two complaints against San Juan Bautista School of Medicine, a private medical school in Puerto Rico. The resolution agreement will ensure the school’s compliance with Title IX of the Education Amendments of 1972 (Title IX) as it applies to requirements to respond promptly and equitably to complaints of sexual harassment, including sexual assault. The agreement also will ensure that the school uses trained staff to conduct timely and complete investigations of complaints alleging discrimination based on sex as well as race and national origin to comply with Title VI of the Civil Rights Act of...

Elizabeth De Leon Bhargava Sworn In as HUD Assistant Secretary for Administration | site |



Information contained in U.S. Department of Housing and Urban Development press release dated: May 13, 2022

Washington - - On Thursday, Elizabeth de León Bhargava was sworn in as the U.S. Department of Housing and Urban Development’s (HUD) Assistant Secretary for Administration.

HUD Secretary Marcia L. Fudge issued the oath of office to Assistant Secretary Bhargava during a ceremony at HUD’s headquarters. Assistant Secretary Bhargava was confirmed by the Senate on May 3, 2022.

“I’m pleased to swear in Elizabeth de León Bhargava as HUD’s Assistant Secretary for Administration,” said Secretary Fudge. “Elizabeth is an

exceptional public servant with a distinguished track record of growing diverse, inclusive, and talented workforces in the...

Agencies announce Public Meeting on Proposed Acquisition by The Toronto-Dominion Bank of First Horizon Corporation; Public Comment Period Extended | site |



Information contained in Board of Governors of the Federal Reserve System press release dated: May 17, 2022

Board of Governors of the Federal Reserve System

Office of the Comptroller of the Currency

The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) today announced a joint public meeting on the proposal by The Toronto-Dominion Bank, Toronto, Ontario, Canada, to acquire First Horizon Corporation, Memphis, Tennessee.

The purpose of the public meeting is to collect information from a wide range of stakeholders as the agencies evaluate the proposed applications. By law, the agencies are required to evaluate:

• the convenience and needs of the communities to be served by the combined organization;
• the insured

...

U.S. Department of Transportation Announces Rear Admiral (Ret.) Ann Phillips as 20th Administrator of the Maritime Administration | site |



Information contained in U.S. Department of Transportation press release dated: May 16, 2022 Washington - - The U.S. Department of Transportation today announced that Rear Admiral (Rear Adm.) Ann Phillips, USN, Ret., has been sworn in as the 20th Administrator of the Maritime Administration (MARAD). Nominated by President Biden on October 21, 2021, Rear Adm. Phillips was confirmed by the U.S. Senate on May 10, 2022. She is the first woman to lead MARAD as administrator. “From her distinguished naval service to her leadership on coastal infrastructure, Rear Admiral Ann Phillips has championed America’s maritime sector throughout her career,” said Transportation Secretary Pete Buttigieg. “Her experience and expertise will be invaluable as we address supply chain bottlenecks, implement the maritime ...

U.S. Department of Agriculture to Provide Approximately $6 Billion to Commodity and Specialty Crop Producers Impacted by 2020 and 2021 Natural Disasters | site |



First Wave of Payments Based on Crop Insurance Data


Information contained in U.S. Department of Agriculture press release dated: May 16, 2022

Washington, May 16, 2022 - - The U.S. Department of Agriculture (USDA) today announced that commodity and specialty crop producers impacted by natural disaster events in 2020 and 2021 will soon begin receiving emergency relief payments totaling approximately $6 billion through the Farm Service Agency’s (FSA) new Emergency Relief Program (ERP) to offset crop yield and value losses. “For over two years, farmers and ranchers across the country have been hard hit by an ongoing pandemic coupled with more frequent and catastrophic natural disasters,” said Agriculture Secretary Tom Vilsack. “As the agricul...