ABA and three other trade groups today urged House and Senate appropriations leaders to support $300 million in funding for the Community Development Financial Institutions Fund in fiscal year 2020, with $35 million allocated for the Bank Enterprise Award Program.
Browsing: Community development
As financial regulators continue their review of the Community Reinvestment Act regulations, Federal Reserve Governor Lael Brainard today said that they are considering making adjustments to the assessment area definition that would allow banks to receive CRA consideration for community developments in a more expansive area.
On this week’s episode, Evan Sparks digs into the unique role — and the special difference — that bank headquarters play in driving Tupelo’s economic performance.
In part one of a special two-part series on the ABA Banking Journal Podcast, co-host Evan Sparks takes listeners on a trip to America’s tiniest financial hub.
How two midsize banks power outsized economic performance in America’s smallest financial hub.
Testifying at a House Appropriations subcommittee hearing today, Bob Jones, president and CEO of United Bank in Atmore, Ala., shared how support from the Community Development Financial Institutions Fund has helped his bank (one of the 134 certified CDFIs in the U.S.) play a direct role in supporting low and moderate-income individuals and businesses.
The Treasury Department’s Community Development Financial Institutions Fund today announced nearly $25 million in awards to 119 banks through its Bank Enterprise Awards program, which encourages banks to increase their investments and loans in disadvantaged communities.
President Trump today signed an executive order creating a new council that will help ensure the success of the Opportunity Zones tax incentive.
Small cities, small towns and rural areas are facing a variety of structural headwinds, from demographic declines to globalization to the digital transformation of the economy. But locally owned community banks remain a strong countervailing force to help these communities navigate the transition.