The FDIC today said it has partnered with the nonprofit Operation Hope to promote financial education to minority and women-owned businesses. Through the partnership, Operation Hope will use the FDIC’s Money Smart financial education resources to help teach how to do business with the agency.
With the Treasury Department investing $8.7 billion in community development financial institutions and minority depository institutions through its Emergency Capital Investment Program, ABA and several other trade groups this week urged the Federal Reserve to revise quickly its regulatory treatment of ECIP investments to support the program’s success.
The federal banking agencies today released 2020 Community Reinvestment Act data on small business, small farm and community development lending.
The Treasury Department, through its Emergency Capital Investment Program, will invest $8.7 billion in community financial institutions, which includes community development financial institutions and minority depository institutions.
In a comment letter submitted on Friday, the American Bankers Association expressed support for strengthening the Community Development Financial Institutions Fund’s Small Dollar Loan Program, which provides grants to eligible recipients—either a CDFI or a partnership between a CDFI and another depository institution—for loan loss reserves and technical assistance, to support small dollar loan programs.
The latest episode of the ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA’s 2021 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving.
The FDIC announced today that it is creating a new office to support its engagement with mission-driven banks, including minority depository institutions and community development financial institution banks.
Scott Anderson, a consummate behind-the-scenes leader, steps into the spotlight as ABA’s 2021-22 chair.
The Community Development Financial Institutions Fund today awarded more than $10.8 million in grants through the 2021 Small Dollar Loan Program.
The FDIC today launched its new mission-driven bank fund, through which private investors—including corporations, financial institutions and philanthropic organizations—have the opportunity to support mission-driven banks that support low- and moderate-income, minority and rural communities.