Federal Reserve: Second Extension of Rule to Bolster Effectiveness of SBA’s Paycheck Protection Program Announced
The Federal Reserve Board on Tuesday announced the second extension of a rule to bolster the effectiveness of the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board’s rules so that certain bank directors and shareholders can apply to their banks for PPP loans for…
Federal Reserve: New Members of Community Advisory Council Announced
The Federal Reserve Board on Thursday announced five new members of its Community Advisory Council (CAC). The CAC is composed of a diverse group of experts and representatives of consumer, workforce, and community development organizations and interests, including from such fields as affordable housing, economic development, labor, small business, and asset and wealth building. CAC…
Federal Reserve: Members of Community Depository Institutions Advisory Council for 2021 Announced
The Federal Reserve Board on Thursday, December 17 announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2021. CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions,…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strenghening CRA Regulations
At the Consumer Bankers Association Community Reinvestment Act Committee Meeting Good afternoon and thank you for inviting me to take part in the Consumer Bankers Association’s (CBA’s) Community Reinvestment Act (CRA) Committee meeting. The CRA officers and teams at your institutions play an important role in identifying community priorities and building partnerships with stakeholders to…
FFIEC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
FDIC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
OCC: Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations
At The Chicago Community Trust, Chicago, Illinois Good morning. I want to thank Dr. Helene Gayle for inviting me to join this conversation, along with the staff, grantees, and partners of the Chicago Community Trust and President Charlie Evans of the Federal Reserve Bank of Chicago. I appreciate the opportunity to discuss economic inclusion and…
Federal Reserve: Board Announces Extension Through March 31, 2021 for Several of Its Lending Facilities
Facilities were generally scheduled to expire on or around December 31 The Federal Reserve Board on Monday announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31. By backstopping critical short-term funding markets, these facilities are supporting market functioning and enhancing…
Interim Final Rule Provides Temporary Relief to Community Banking Organizations Due to Coronavirus Response
The federal bank regulatory agencies on Friday announced an interim final rule that provides temporary relief for certain community banking organizations related to certain regulations and reporting requirements as a result, in large part, of their growth in size from the coronavirus response. Community banking organizations are subject to different rules and requirements based on…