Browsing: Community development

ABA Banking Journal Podcast

“When you think about what’s happening in America, there’s a bifurcation that’s happening,” says Orvin Kimbrough. “You have more and more people pushing to the upper echelons of economic continuum, and you have many more who are pushing to the lower end, and the middle group is being squeezed.”

Policy

Federal Reserve Governor Lael Brainard, the agency’s point person for the Community Reinvestment Act modernization process, today outlined the Fed’s approach to revising CRA rules and explained why the Fed did not join the notice of proposed rulemaking issued last month by the OCC and the FDIC.

Mortgage

The Federal Home Loan Banks awarded approximately $458 million in affordable housing program funds in 2018, a 15% increase from the year prior, according to a report released today by the Federal Housing Finance Agency.

Commercial Lending

The Treasury Department’s Community Development Financial Institutions Fund today announced more than $25 million in awards to 113 banks through its Bank Enterprise Awards program, which encourages banks to increase their investments and loans in disadvantaged communities.

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