CFPB: Updated Exam Procedures for Military Lending Act Released
CFPB to Evaluate Military Lending Act Violations in its Exams of Creditors and Will Use Its Enforcement Authority in Cases of Substantial Consumer Harm WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) issued the procedures its examiners will use in identifying consumer harm and risks related to the Military Lending Act rule which was…
CFPB: Project Catalyst Study Finds Savings Offers Double the Number of Consumers Saving
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released the results of a Project Catalyst research project finding that offering a small incentive to prepaid card users to put some of their money into a savings “wallet” doubled uptake of the wallet. The study also found that the consumers who chose to save using…
CDFI Fund: Treasury Guarantees $265 Million in Bond Funding for Projects in Low-Income Communities
Washington, DC—the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that two bonds, totaling $265 million, were issued on behalf of four CDFIs in fiscal year (FY) 2016. A total of $1.11 billion has been guaranteed since the inception of the CDFI Bond Guarantee Program, which provides long-term, fixed-rate capital…
ABA: Survey – Top Reasons Consumers Plan to Consult Their Bank
WASHINGTON — Car loans, mortgages and saving for college are the top reasons consumers plan to consult their bank over the next year, according to a new survey by the American Bankers Association. Two in five Americans indicated they may contact their bank about these or other important financial decisions within the next 12 months….
CDFI Fund: U.S. Treasury Awards $185 Million for Community Development in Low-Income Communities
Funds Support CDFI Investment and Revitalization Activity in Distressed Urban, Rural and Native Communities Washington-The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 196 Community Development Financial Institutions (CDFIs) $185.7 million in grants and loans today. The awards, through the fiscal year (FY) 2016 rounds of the Community Development Financial…
ABA: Foundation Honors Washington Banker with Distinguished Service Award
WASHINGTON – David Devine of Columbia Bank in Tacoma, Wash. has received the American Bankers Association Foundation George Bailey Distinguished Service Award for his work with the homeless population of the Northwest. Devine, who is the senior vice president and marketing director for Columbia Bank, will be presented the award during ABA’s Annual Convention in…
CDFI Fund: Winners Announced of the 2016 CDFI Prize Competition
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is pleased to announce the winners of its 2016 CDFI Prize Competition. Eight organizations will receive an aggregate total of $1 million to reward innovative ideas and approaches to increasing CDFI investment and access to capital in underserved rural areas, particularly those…
CDFI Fund: US Treasury Announces Over $90 Million in Awards for Affordable Housing
Over $900 Million in Private Sector Investment to be Leveraged by Capital Magnet Awards The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 32 organizations nearly $91.5 million in grants today for the development of affordable housing and community facilities in low-income communities. These awards were made through the fiscal…
ABA: Top Ag Banking Awards Go to Indiana Banker and Kansas Ag Professor
WASHINGTON — The American Bankers Association today announced the recipients of both the Bruning and Blanchfield Awards, the association’s premier awards presented for contributions to agricultural banking. Gene Miles, president and CEO of First Farmers Bank and Trust Company, Converse, Ind., will receive the Bruning Award, and Kansas State University ag economics emeritus professor Barry…
ABA: Six Banks Honored with Community Commitment Awards
Categories range from affordable housing to community and economic development WASHINGTON — The American Bankers Association Foundation has recognized six banks for their noteworthy corporate social responsibility with a 2016 Community Commitment Award. The awards were given to banks for their efforts in categories ranging from affordable housing to community and economic development. Winners will…