Senators John Hickenlooper (D-CO) and Bill Cassidy (R-LA) are the newest members of the Senate Caucus. The Newly formed caucus has already proved instrumental in guiding the national policy conversation - On January 19, Mark R. Warner (D-VA) and Mike Crapo (R-ID), co-chairs of the bipartisan Senate Community Development Finance Caucus (CDFC), sent a letter to U.S. Department of Treasury Secretary Janet Yellen urging the department to consider all comments received in response to the CDFI application and Annual Certification and Data Collection Report (ACR).
Climate First Bank CEO, Ken LaRoe, has published an open letter directed to state policy makers proposing and adopting new legislation to limit or prohibit state governments from ESG investment.
Lawmakers from both parties say the Federal Reserve needs legislative authority to issue a digital dollar, but the two sides have so far been unable to find a balance between privacy and security that could overcome the partisan divide.
BOM Bank is opening Woodworth's first stand-alone full service bank. This will be the fifth location for BOM in the Rapides Parish, and means no more traveling for Woodworth residents.
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.
CEOs from Native banks discuss the importance of access to capital and assistance for their banks to thrive. Jeff Bowman of Bay Bank provided insight about how other CDFIs can support Native banks.