The Community Development Financial Institutions Fund today awarded more than $11.4 million in grants to 66 community development financial institutions through the Small Dollar Loan Program for the 2022 fiscal year.
Browsing: Small-dollar credit
The Community Development Financial Institutions Fund today opened its funding round for fiscal year 2022 funding for its small-dollar loan program.
ABA and four other trade groups today urged House and Senate appropriations leaders to continue bipartisan support for the CDFI Fund
Acting Comptroller of the Currency Michael Hsu today reiterated the controversial warning he first issued to banks earlier this month at ABA’s Washington Summit: “you don’t want to be the last bank with a traditional overdraft program.”
The American Bankers Association and four other trade groups today urged House and Senate appropriations leaders to continue bipartisan support of at least $360 million in funding for the Community Development Financial Institutions Fund in fiscal year 2022, with $42 million allocated for the Bank Enterprise Award Program.
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.
A federal appellate court last week extended the compliance date of the CFPB’s 2017 payday…
A federal district court on Tuesday denied payday lenders’ challenge to the CFPB’s 2017 small-dollar lending rule.
A coalition of financial trade groups including ABA today urged Senate Banking Committee members to reject any legislative proposal that would impose a national fee and interest rate cap of 36%, noting that such a cap would create barriers to credit access for consumers.
The Consumer Financial Protection Bureau’s Task Force on Federal Consumer Financial law today issued an…