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Press Release

September 10, 2021

FDIC Launches 2nd Annual Academic Challenge
University and College Teams to consider impacts of pandemic on
banking sector

The Federal Deposit Insurance Corporation (FDIC) today announced the launch of the agency’s Second Annual Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. The topic for this year’s challenge is “The Impacts of COVID-19 on the Banking Sector.”

FDIC Chairman Jelena McWilliams said, “The goal of this challenge is simple—to engage undergraduate students in our work and give them an opportunity to wrestle with some of the very same challenges that banking regulators deal with every day.”

The FDIC’s Center for Financial Research is hosting the 2021-2022 Academic Challenge, which will consist of two rounds. In the first round of the competition, teams of undergraduate students will use multiple public data sources to examine the effects of community banks on local economic development. In the second round, finalist teams will present their findings and answer questions from a panel of judges who work in the areas of banking and bank supervision.


The FDIC will challenge teams to use government and other public data to inform their insights. In addition, FDIC economists will host an online session to help students find resources and address questions about the competition. Participants will have the opportunity to showcase their analytical and presentation skills, to be exposed to important issues in banking, and to deepen their experiences working in teams.

Hear from former FDIC Academic Challenge participants as they describe their experiences and discuss the benefits of taking on the Challenge.

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Issuance of Venezuela-related General License 5H and Amended Frequently Asked Question

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing General License 5H, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After January 21, 2022.” In addition, OFAC is amending a related Frequently Asked Question.

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"New Rules for eCommerce in Europe since July 2021"


Since July 2021, new rules for e-commerce are in place, are you all set? VAT and Authorized Representatives rules have changed and everyone in the e-commerce supply chain is affected, from online sellers and marketplaces/platforms both inside and outside the EU, to postal operators and couriers, customs and tax administrations, right through to consumers. Three months later, what are the key takeaways after the implementation ?

Join us to learn from experts how to adjust to these changes and ask questions.

What You Will Learn
New EU VAT Rules since July 1, 2021
New rules for EU Authorized Representatives since July 16, 2021 (regulation on market surveillance and compliance)
Logistics- Servicing your European Customers
What assistance the CS E-commerce Team in Europe provides to develop your on-line business in the region

Speakers for the Event
Britta Eriksson, CEO - EuroVAT
Soufyan Lamdini, Compliance Expert - Certification Experts
Jelle de Rooij, Senior Manager Supply Chain Solutions - HIDC
Rose-Marie Faria, E.U. E-Commerce Team Coordinator, U.S. Commercial Service France



Event: New Rules for eCommerce in Europe since July 2021 Webinar

Date: Wednesday, September 22, 2021

Time: 11:00 a.m. - 12:00 p.m. ET

Cost: $25 per participant
Join this webinar virtually.
Participation is via your computer.
If you have questions in the U.S., contact Linda.Abbruzzese@trade.gov or Tricia.McLain@trade.gov; for questions in Europe, contact Rose-Marie.Faria@trade.gov
This webinar will conclude with a question and answer session.







The U.S. Commercial Service is the trade promotion arm of the
U.S. Department of Commerce's International Trade Administration.
U.S. Commercial Service trade professionals in over 100 U.S. cities and in more than 75 markets
help U.S. companies get started in exporting or increase sales to global markets.

If you are ready to begin exporting or expand to additional global markets,
please contact your nearest U.S. Commercial Service office or access exporting resources.

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"Fentanyl And Fentanyl Analogues Federal Trends and Trafficking Patterns" from the U.S Sentencing Commission updates the trends in federal sentencing.




This report on Fentanyl and Fentanyl Analogues examines the relatively new and emerging problem of fentanyl and fentanyl analogue trafficking. The United States Sentencing Commission (the “Commission”) issues this report pursuant to its authority to collect, analyze, and report on trends in federal sentencing.

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Register Today

The SBA is gearing up for National Small Business Week, September 13-15, 2021! Join us for the free virtual summit to learn new business strategies, meet other business owners and chat with industry experts. This year's virtual summit will also feature an impressive list of guest speakers including, but not limited to, Mark Cuban, José Andrés and Cedric Richmond.  Register for the Virtual Summit  Mark Cuban Entrepreneur Mark Cuban is an entrepreneur, television personality and media proprietor. He is the owner of the Dallas Mavericks professional basketball team of the National Basketball Association, co-owner of 2929 Entertainment and chairman of AXS-TV. He is also one of the main “shark” investors on the hit ABC reality tv series “Shark Tank.” José Andrés Chef, Restaurateur and Founder of World Central Kitchen José Andrés is a Chef, Restaurateur, and founder of World Central Kitchen, a non-profit devoted to providing meals in the wake of natural disasters. He is often credited with bringing the small plates dining concept to America. He owns restaurants in Washington, D.C., Los Angeles, CA, Las Vegas, NV, South Beach Miami and Orlando, FL, Chicago, IL, and New York, NY. Andrés received the National Humanities Medal at a White House ceremony in 2016. In 2018, World Central Kitchen provided meals to furloughed federal employees during the federal government shutdown. Cedric Richmond White House Senior Advisor and Director of the Office of Public Engagement Cedric Richmond is an attorney and former Democratic Congressman for Louisiana’s 2nd Congressional District from 2011-2021. Richmond now serves as senior advisor to President Biden and director of the White House Office of Public Engagement. National Small Business Week is made possible, in part, due to the support of companies and organizers who serve as co-sponsors. The 2021 co-sponsors have joined the SBA to honor the nation’s 32.5 million small businesses for their perseverance, ingenuity, triumphs and creativity. See the list of co-sponsors.