ABA, trade groups urge increase in CDFI fund appropriations
The trade groups asked for $500 million for the CDFI Fund, which includes a $50 million allocation for the Bank Enterprise Award Program.
Browsing: Community development
Sens. Cardin, Daines introduce ABA-backed bill to make NMTC permanent
Sens. Ben Cardin (D-Md.) and Steve Daines (R-Mont.) yesterday introduced the New Markets Tax Credit Extension Act of 2023.
Podcast: How CDFI status helps one community bank stay independent
“We’re a small bank, and it gets more expensive all the time to run a small community bank,” says Andy Anderson, president and CEO of Bank of Anguilla in Anguilla, Mississippi. “As long as we can do this profitably and remain in our community, that’s what we want to do.”
ABA offers recommendations for improving community investment programs
Federal agencies could improve the effectiveness of community investment programs by removing barriers to bank participation in federal loan programs and making other changes, the American Bankers Association said Monday.
Agencies release 2021 CRA data on small business, community development lending
The federal banking agencies today released 2021 Community Reinvestment Act data on small business, small farm and community development lending.
ABA: Proposed CDFI certification application updates could have unintended consequences
ABA supports the proposed changes’ goals, but said without refinement they would have unintended consequences, particularly in rural areas.
ABA Foundation honors Community Commitment Award winners
The ABA Foundation yesterday honored seven banks for outstanding commitment to their communities.
CDFI Fund seeks feedback on criteria for designating ‘minority lending institutions’
The Community Development Financial Institutions Fund is asking for public feedback to refine the criteria it should use to designate “minority lending institutions” as a subset of CDFIs.
ABA calls for changes to CRA modernization proposal in statement for record
Ahead of a House Financial Services subcommittee hearing on the joint agency proposal to update the Community Reinvestment Act, the American Bankers Association cautioned lawmakers that certain aspects of the proposal are unlikely to accomplish the goals of regulatory modernization.
CDFI Fund now accepting applications for small-dollar lending program funds
The Community Development Financial Institutions Fund today opened its funding round for fiscal year 2022 funding for its small-dollar loan program.