In support of the President’s call to increase collaboration among federal agencies and with private and public sector entities, there has been an abundance of interagency initiatives geared to increase job creation and entrepreneurship. Among these, MBDA has partnered with other federal agencies in support of the Job and Innovation Accelerator, Strong Cities, Strong Communities and Start-Up America.
As a federal partner, MBDA is providing technical support to grantees of the Job Accelerator to identify and match minority businesses with potential procurement opportunities resulting from the 20 regional innovation clusters. Moreover, we are excited that three MBDA Business Center operators won grants to implement the Job Accelerator projects. MBDA also has boots on the ground in New Orleans and Fresno, California to support economic development, business formation and expansion in those cities as part of the Strong Cities, Strong Communities initiative. In addition, MBDA continues to participate in the Start-Up America initiative to support business formation and innovation.
As many of you may know, last year the President signed into law The Wall Street Reform and Consumer Protection Act, commonly known as the Dodd-Frank Act, to promote the financial stability of America and to protect consumers from abusive financial service practices, among other purposes. In particular, the law brought many changes to increase transparency and accountability in the financial industry, strengthen consumer protection against unfair lending practices, and to promote greater inclusion of minorities and women in the employment and procurement of federal financial regulatory agencies. The law established the new Consumer Financial Protection Bureau and the Offices of Minority and Women Inclusion at the Department of the Treasury, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the newly created Consumer Financial Protection Bureau, among other federal financial regulatory agencies.