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Biden gives $187M to Missouri for emergency capital investment

Biden-Bank Regulation Battle
Posted at 4:42 PM, Sep 21, 2022
and last updated 2022-09-21 17:42:20-04

KANSAS CITY, Mo.  — As part of the federal Emergency Capital Investment Program, President Joe Biden gave $187 million to Missouri banks, credit unions and holding companies.

A Wednesday release from the U.S. Department of Treasury announced that $75,000,000 has been given to Central Bancshares of Kansas City; $1,000,000 has been given to the Holy Rosary Credit Union in Kansas City; $99,000,000 has been given to Ozarks Hertiage Financial Group in Gainesville and $12,041,000 has been given to Star Bancshares in Bolivar.

Under the Biden Administration, the ECIP aims to relieve underserved communities that struggled during COVID-19 by giving financial institutions more opportunities to provide grants, loans and forbearance for small and minority-owned businesses.