FDIC Updates Statement of Policy on MDIs
The FDIC board today voted to approve an update to its policy statement on minority…
Browsing: Financial inclusion
New ABA Report Examines Americans’ Access to Banking Services
An estimated 124.2 million households were considered “banked” in 2019, with at least one member having a checking or savings account, according to FDIC figures that were highlighted in a new report from the American Bankers Association today on access to the banking system.
Fed Survey: Even Amid Pandemic, Unbanked Share Dips
The share of unbanked American adults dipped to 5% in 2020, according to the Federal Reserve’s annual Report on the Economic Well-Being of U.S. Households released today.
ABA Supports Bill to Encourage De Novo Bank Formation
The American Bankers Association today submitted a letter of support for H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo banking.
Building Capacity of Lenders to the Underserved
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.
Several Core Providers to Cover Cost for MDIs to Join RTP Network
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.
Powell: Broad Effort Needed for All to Benefit from Economic Recovery
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.
A Field Guide to Coming AML/BSA Reforms
Recent legislative changes will keep banks’ Bank Secrecy Act officers busy for years to come. Here’s a CEO’s-eye view of AML/BSA changes on the horizon.
Rep. Barr Introduces ABA-Backed Bill to Encourage De Novo Bank Formation
To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) last week introduced H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo formation.
ABA, Trade Groups Oppose California Public Banking Bill
The American Bankers Association joined a coalition of nine other trade associations in a letter opposing a bill introduced in the California State Assembly that would create a public banking program, BankCal, within the state treasurer’s office that would provide financial services to California residents.