CDFIs

The funds include $3.2 billion in loans that community development financial institutions had already approved during the PPP's second phase.

The Office of the Comptroller of the Currency watered down numeric metrics that some groups blasted and allowed more institutions to opt out of the new regime. But whether the agency has won over any detractors remains to be seen.

Industry groups have called for a variety of measures to help CUs weather the pandemic’s economic fallout, including more money for funds that aid community development financial institutions.

Community development financial institutions, including credit unions, have a unique role to play as the nation weathers the economic fallout from COVID-19, but they can't do it alone.

A host of industry events have been rescheduled due to the outbreak, with postponements now stretching into mid-May.

An effort by the Federal Housing Finance Agency to examine membership rules for the Federal Home Loan Bank System is reigniting an argument over whether to allow more nonbanks in or impose tougher barriers.

Giving more Community Reinvestment Act credit to such partnerships will help low-income communities, despite industry concerns.

The agency plans to conduct a review of how it regulates the 11 Federal Home Loan banks amid concerns that some companies are inappropriately seeking a back door into the Home Loan Bank System.

Broadway Financial prefers a small balance sheet and loans to real estate investors that offer affordable housing. Capital Corps and its founder, Steven Sugarman, want the bank to expand by making more loans directly to low- and moderate-income borrowers.

Community development financial institutions could stand to gain from efforts to modernize the Community Reinvestment Act, but they fear the proposal offered by regulators may end up draining their capital.

Native American leaders are cheering the proposal, which would give banks Community Reinvestment Act credit for making loans on reservations, even if the lands sit far outside their assessment areas.

Industrial Bank CEO Doyle Mitchell has spent countless hours in New York since his bank bought the failed City National in November, meeting with existing customers and plotting his growth plans.

The OCC and FDIC have moved in the right direction by proposing reforms to the Community Reinvestment Act. Now it’s time for the Federal Reserve to join.

Credit unions today regularly receive monies from the CDFI Fund, but it wasn't always that way. Here's a look back at the last quarter-century and the progres that still needs to be made.

These community development-focused banks need tailored regulations to expand their purpose in helping underserved areas.

The House Financial Services chair is sponsoring a bill with one of the Democratic presidential contenders aimed at alleviating the public housing capital backlog.

The Treasury Department's CDFI Fund issued nearly $32 million to credit unions this week after providing $3.5 million in technical assistance grants earlier this year.

A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left.

The National Credit Union Administration approved a rule expanding institutions' access to nonmember deposits, but observers say it's unlikely to lead to a massive influx of new funding – at least for now.  

Credit unions now have until Nov. 30 to apply for Community Development Financial Institution certification.