CDFI Announces 2021 Small Dollar Loan Program Awards
The Community Development Financial Institutions Fund today awarded more than $10.8 million in grants through the 2021 Small Dollar Loan Program.
Browsing: Minority depository institutions
FDIC Launches Mission-Driven Bank Fund
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.
FDIC’s McWilliams Touts Agency’s Forward Looking Initiatives
Despite the pandemic, the FDIC has not lost sight of its forward-looking initiatives, FDIC Chairman Jelena McWilliams said today during the Texas Bankers Association annual convention.
Getting Started with CDFI and MDI Partnerships
Creating more options for banks of all sizes to reach underserved communities.
FDIC Updates Statement of Policy on MDIs
The FDIC board today voted to approve an update to its policy statement on minority…
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.
SBA: PPP Funds Exhausted for All But CDFIs, MDIs
The Small Business Administration today informed trade associations that Paycheck Protection Program funding has been exhausted and that the PPP application portal will on Tuesday stop accepting applications for loans from most lenders.
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.
McWilliams Previews FDIC’s ‘Mission-Driven Bank Fund’ to Support CDFIs, MDIs
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.
Banking Agencies to Allow Treasury’s Emergency Capital Investments to Count as Bank Capital
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.