READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Small Business Owners
01/28/2021
U.S. Department of the Treasury
Office of Public Affairs
January 28, 2021
Contact: Alexandra LaManna; press@Treasury.gov
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Small Business Owners
Secretary of the Treasury Janet L. Yellen participated in a virtual discussion with small business owners to discuss the unprecedented public health and economic crises that have left millions of Americans struggling to get by. Secretary Yellen also discussed strategies to support American small businesses in urban and rural areas alike.
Secretary Yellen listened to the individual stories and painful concerns of these leaders. She highlighted President Biden’s American Rescue plan and how it will help millions of people, including small business owners, make it to the other side of this pandemic. Secretary Yellen also emphasized how investing in institutions like Community Development Financial Institutions and Minority Depository Institutions can help small businesses left behind during this crisis -- and traditionally excluded from access to capital -- get the resources they need.
Secretary Yellen reiterated that the price of doing nothing in response to the public health crisis and resulting economic one is much higher than the price of doing something, and that the benefits of acting now – and acting big – will far outweigh the costs over the long term.
The Secretary was joined by seven small business owners representing a diverse group of industries, demographics and regions of the country:
Pilar Guzmán Zavala, Owner and CEO, Half Moon Empanadas; Miami, Florida
Samir Idnani, Co-Owner, NaanStop; Atlanta, Georgia
Shayai Lucero, Owner, Earth and Sky Floral Designs and Gallery; Old Laguna, New Mexico
Christian Medrano, Owner, Brew Brew Coffee & Tea; Chicago, Illinois
Claudia Mendoza, Owner, I. Q. Constructions, Inc.; Delray Beach, Florida
Shaundell Newsome, Visionary & Founder, Sumnu Marketing and Chairman of the Board, Urban Chamber of Commerce; Las Vegas, Nevada
Anne Zimmerman, CPA and Founder & Owner, Zimmerman & Co CPAs Inc., and Treasurer, Anderson Area Chamber of Commerce; Cincinnati, Ohio
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Daily Guidance for Secretary of the Treasury Janet L. Yellen, Friday, January 29, 2021
01/28/2021
U.S. Department of the Treasury
Office of Public Affairs
January 28, 2021
Contact: Alexandra LaManna; press@Treasury.gov
Daily Guidance for Secretary of the Treasury Janet L. Yellen
Friday, January 29, 2021
Secretary Yellen will attend an economic briefing with the President and the Vice President in the Oval Office. There will be a pool spray at the top of the meeting.
She will also attend a virtual meeting where staff and advisors will brief her on issues around access to capital in underserved communities as the Administration addresses the economic crisis stemming from the COVID-19 public health crisis.
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READOUT: Secretary of the Treasury Janet L. Yellen’s Call with Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland
01/29/2021
U.S. Department of the Treasury
Office of Public Affairs
January 29, 2021
Contact: Alexandra LaManna; press@Treasury.gov
READOUT: Secretary of the Treasury Janet L. Yellen’s Call with Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland
Earlier today, Secretary Janet Yellen spoke with Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland. During the call, Secretary Yellen affirmed the importance of close collaboration between the United States and Canada on economic policy and national security. Secretary Yellen conveyed her priorities for bolstering recovery efforts and mitigating the impact of the COVID-19 pandemic, fighting inequality and creating jobs, and forcefully addressing the threat of climate change. The Secretary also discussed the importance of the U.S.-Canada trade relationship to both economies. Secretary Yellen noted her interest in working closely with Deputy Prime Minister Freeland to advance mutual priorities through the G-7, G-20, and other international fora. Secretary Yellen shared her desire to work together as neighbors, allies, and trade partners to face the challenges ahead.
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Press Release
January 29, 2021
FDIC Reopens and Extends the Public Comment Period on the Proposed Mergers of First-Citizens Bank & Trust Company with CIT Group, Inc., and its Subsidiary, CIT Bank, National Association
WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) has reopened and extended until February 22, 2021, the public comment period for the proposed mergers of First-Citizens Bank & Trust Company with CIT Group, Inc., and its subsidiary, CIT Bank, National Association.
On December 8, 2020, the FDIC received an Interagency Bank Merger Act Application filed by First-Citizens Bank & Trust Company, Raleigh, NC, to merge with CIT Group, Inc., New York, NY, and its wholly-owned subsidiary, CIT Bank, National Association, Pasadena, CA, with First-Citizens Bank & Trust Company as the surviving entity in the proposal. A related application under the Bank Holding Company Act is being considered by the Board of Governors of the Federal Reserve System, and the comment period for that application was recently extended until February 22, 2021.
The comment period for this application has been reopened and extended. Interested parties are invited to submit written comments to the FDIC through its
webpage available for receiving public comments on applications. Written comments can also be submitted to the FDIC’s Atlanta Regional Office, 10 10th Street, NW, Suite 800, Atlanta, GA 30309-3849. Written comments will be accepted through Monday, February 22, 2021.
The public portion of the application can be obtained by submitting a request to
PendingMergerApplication@fdic.gov.
FDIC Makes Public December Enforcement Actions
No Administrative Hearings Scheduled for February 2021FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December. There are no administrative hearings scheduled for February 2021.
The FDIC issued 10 orders in December 2020. The administrative enforcement actions in those orders consisted of three consent orders, one termination of consent order, three section 19 orders, two removal and prohibition orders and two orders to pay civil money penalties.
To view orders, adjudicated decisions and notices and the administrative hearing details online, please visit the FDIC’s Web page by clicking the link below.
December 2020 Enforcement Decisions and Orders
