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.
The Treasury Department’s Community Development Financial Institutions Fund today announced the recipients of $5 billion in new markets tax credits to spur investment in low-income urban and rural communities.
Creating more options for banks of all sizes to reach underserved communities.
The FDIC board today voted to approve an update to its policy statement on minority…
The Treasury Department today awarded $1.25 billion in COVID-19 relief grants to 863 community development financial institutions through its CDFI Rapid Response Program.
Ahead of the release of the president’s budget tomorrow, Treasury Secretary Janet Yellen told House appropriators that funding is needed for the Financial Crimes Enforcement Network to build its beneficial ownership database—something ABA has long advocated for.
ABA supports bipartisan New Markets Tax Credit Extension Act. “By making NMTC permanent, our nation’s small businesses, investors and community development professionals will have access to the vital resources needed to improve our nation’s communities while generating long-term economic growth,” ABA said.
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.
With applications due in July, here’s what CDFIs and minority banks need to know about the Treasury Department’s new emergency capital investment program.
The Clearing House, Jack Henry, FIS and Fiserv announced today that they will cover the cost for minority-owned depository institutions to join the RTP network.