Heard on the Street: businesses struggling to find credit, growing minority banks, and more

By October 7, 2019 Heard on the Street

Heard on the Street – here’s what we were reading last week:

Businesses having a harder time getting credit, survey finds: Small and mid-sized businesses are having a harder time getting credit and that’s having an impact on their plans to hire, based on a third-quarter survey that questioned 752 small and mid-sized businesses, with some of the results broken out by company size.

U.S. Bank takes lead in program to strengthen and grow minority banks: The nation’s fifth-largest bank, U.S. Bank entered into a formal mentor-protégé partnership with First Independence Bank, the only African American‐owned bank headquartered in the state of Michigan, centered around performing services for the U.S. Treasury Department.

Business economists foresee slowdown in US growth: The nation’s business economists think President Donald Trump ‘s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.

Harvard Does Not Discriminate Against Asian-Americans in Admissions, Judge Rules: A federal judge on Tuesday rejected claims that Harvard had intentionally discriminated against Asian-American applicants, in a closely watched case that presented one of the biggest legal challenges to affirmative action in years.