Accion Weekly News Roundup: August 2, 2013

Accion News:

La Idea Extends Application Deadline, Showcases Latin American Entrepreneurs

Tech Cocktail

Global Entrepreneurship Week in November 2011 introduced the world to La Idea, a key initiative of former Secretary of State Hillary Clinton. The main focus behind this initiative is to provide Latino entrepreneurs the necessary resources to build effective small businesses while showcasing the partnerships forged with American entrepreneurs.

Mayor Emanuel’s Microloan Initiative Grants $650K In New Microloans to Over 80 Small Businesses

City of Chicago

Today, Mayor Rahm Emanuel and the Department of Business Affairs and Consumer Protection (BACP) announced the latest progress update for the Chicago Microlending Institute (CMI), launched by the City in May 2012 to train and develop microlenders to expand small business financing in Chicago. To date, more than 80 small business owners have received $650,000 in loans, creating or preserving approximately 350 jobs.

Industry News:

Fed’s Debit-Card Swipe-Fee Rules Rejected by U.S. Judge


Retailers battling banks over debit-card transaction costs were handed a victory by a U.S. judge, who said merchants were overcharged billions of dollars under an unlawful swipe fee set by the Federal Reserve. U.S. District Judge Richard Leon in Washington ruled today that the Fed considered data it wasn’t allowed to use under the Dodd-Frank law in setting the cap on debit-card transaction fees, known as swipe fees, at 21 cents, and neglected to bolster competition in card networks.

Economy Adds 200,000 Jobs for July

The Motley Fool

Job growth is up slightly for July, according to an ADP national employment report released today. Nonfarm private employment increased by a seasonally adjusted 200,000 jobs for July, beating analysts’ estimates of 179,000 additional jobs. Today’s report also included revised June data, which bumped last month’s numbers up 10,000 to 198,000 added jobs.

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