BOM Bank won a $2 million loan for a train depot rehabilitation project. The Texas and Pacific Railway Depot has a deep connection to Natchitoches's African-American community. This rehabilitation project will preserve and commemorate that history.
U.S. Senator Mark Warner (D-VA) and co-chair of the new Community Development Finance Caucus spoke with American Banker about the future of community development, cybersecurity, and non-bank regulation.
To level the playing field among community bank charters, the Acting Comptroller announced a 40 percent reduction in assessment rates for all banks on their first $200 million in total balance sheet assets and a 20 percent reduction for all banks on balance sheet assets above $200 million and up to $20 billion.
In this op-ed, Beth Bafford of Calvert Impact Capital, reflects on the gap that CDFIs filled during the COVID-19 pandemic and how the industry requires more support for the critical work we do to create a "diversified and inclusive economy."
COVID-19 catapulted community development lending into a new level of prominence and importance in American finance. Jeannine Jacokes, CDBA CEO noted that in the very beginning the industry didn't have experience in terms of public policy advocacy. "Fast forward 30 years, and we have a caucus — that is a mind-blowing thing, because way back when, CDFIs were very much grassroots organizations. Many didn't get a lot of government funding from any source whatsoever," said Jacokes.