Browsing: Community Banking

Community Banking

The American Bankers Association and five other trade groups today urged House and Senate appropriations leaders to support $1 billion in funding for the Community Development Financial Institutions Fund in fiscal year 2022, with $100 million allocated for the Bank Enterprise Award Program.

Community Banking

The American Bankers Association today submitted a letter of support for H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo banking.

Community Banking

The Small Business Administration today extended its guidance on how lenders may sell whole Paycheck Protection Program loans. The SBA’s previous guidance on whole loan sales of PPP loans expired on May 1, and the new guidance been back-dated to take effect on April 30, 2021.

Community Banking

The Community Development Financial Institutions Fund this week issued a notice inviting applications for the 2021 Small Dollar Loan Program, a program that provides grants for loan loss reserves to enable a certified Community Development Financial Institution to establish a loan loss reserve fund to help defray the costs of establishing or maintaining a small-dollar loan program.

Community Banking

American Bankers Association President and CEO Rob Nichols today said that the rapid convergence of banking and technology is important and benefits consumers, but emphasized that “there should be some degree of levelness as it pertains to supervision and consumer protection,” for new market entrants offering bank-like services.

Community Banking

To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) last week introduced H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo formation.

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