The Federal Reserve is focused on addressing “long-standing disparities” in unemployment, “because they weigh on the productive capacity of our economy,” Federal Reserve Chairman Jerome Powell said today during remarks at an industry event.
The Community Development Financial Institutions Fund this week issued a notice inviting applications for the 2021 Small Dollar Loan Program, a program that provides grants for loan loss reserves to enable a certified Community Development Financial Institution to establish a loan loss reserve fund to help defray the costs of establishing or maintaining a small-dollar loan program.
The FDIC is setting up a Mission-Driven Bank Fund to help support minority depository institutions and community development financial institutions, FDIC Chairman Jelena McWilliams said today.
The Federal Reserve, FDIC and OCC today announced an interim final rule allowing Treasury investments made to community development financial institutions and minority depository institutions under the newly established Emergency Capital Investment program qualify as regulatory capital. Comments are due 60 days after publication in the Federal Register.
The banking agencies today updated a list of frequently asked questions related to the Community Reinvestment Act and the coronavirus pandemic.
Bankers and CDFIs partner with nonprofits to keep childcare businesses open—especially for America’s vulnerable essential workers.
The Treasury Department today announced that it will invest $9 billion in community development financial institutions and minority depository institutions through the newly established Emergency Capital Investment Program.
The Treasury Department’s Community Development Financial Institutions Fund today announced the opening of the fiscal year 2021 funding round for the CDFI Rapid Response Program, which will provide $1.25 billion to help CDFIs respond to the pandemic.
ABA has joined the a broad coalition of finance, fair housing and community development advocates to support the Neighborhood Homes Investment Act, a bipartisan Senate bill, S. 98, introduced by Sens. Ben Cardin (D-Md.) and Rob Portman (R-Ohio).
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