News

Senate Banking, Housing, Urban Affairs Committee | Wednesday, January 15, 2025

"Today, Chairman Tim Scott (R-S.C.) released the U.S. Senate Committee on Banking, Housing, and Urban Affairs legislative and oversight priorities for the 119th Congress. As the first Black chair of a Senate standing committee, Chairman Scott will work tirelessly to increase financial inclusion and advance opportunity for Americans across the country.

'My goal for this Congress is simple: make America work for Americans. Over the last two years, we've led comprehensive solutions to serious challenges Americans face – from addressing our failed federal housing policies to increasing access to capital to bolstering our economic national security – and we can build on this success. As we begin the 119th Congress, I look forward to working with the Trump administration, and my colleagues on the committee, to find consensus and advance solutions that improve financial inclusion and create opportunity across the country. The American people gave Congress a mandate – let's get to work,' said Chairman Scott."

Alamosa News | Friday, January 10, 2025

Congratulations to Kent Curtis, President and CEO of First Southwest Bank and Immediate Past Chairperson of the Community Development Bankers Association Board, on being recognized in the 2024 Who's Who in Impact Investing by the Denver Business Journal and the Impact Finance Center!

Under Kent's leadership, First Southwest Bank has exemplified the mission of a Community Development Financial Institution, dedicating itself to driving economic growth and providing equitable access to capital for underserved communities across Colorado. From securing CDFI certification in 2014 to creating the First Southwest Community Fund, Kent's vision and commitment to impact investing have fueled positive and lasting social and economic change.

As FSWB Board Chair Jennifer Ostenson said, "Kent's vision and passion for impact investing have made him a true thought leader, not just in Colorado but within the larger field of community development finance."

We're proud to have Kent as a valued leader at CDBA and celebrate this well-deserved recognition of his remarkable contributions to community development and impact finance.

American Banker | Friday, January 10, 2025

"Federal Deposit Insurance Corp. Vice Chair Travis Hill, poised to lead the agency, outlined his priorities, including minimizing the regulatory burden on banks, distancing the agency from climate-related rules and politically motivated oversight like Operation Choke Point, and fostering a friendlier environment for digital assets.

In his remarks — delivered to a crowd at the American Bar Association's Banking Law Committee Meeting on Friday — Hill shed light on the path forward for a key regulatory issue in banking: the Basel III endgame capital requirements set to be revisited under the Trump-era FDIC."

American Banker | Thursday, January 9, 2025

"The Federal Reserve's resident voice of dissent to Biden-era bank policy is calling for 'pragmatism as a guiding principle' to regulation and supervision under President-elect Donald Trump.

In a speech on Thursday, Fed Gov. Michelle Bowman said she was 'optimistic' that the change in administration will open the door for a more collaborative dynamic between banks and the agencies that oversee them."

Next City | Tuesday, January 7, 2025

"Less than two weeks from today, the Trump administration will return to power after a four-year hiatus. Keeping the potential of deep resistance movements in mind, here are seven economic justice storylines I'll be following over these next few years. There will be a lot to resist, but also some previous work to keep building on."

Federal Reserve Board | Monday, January 6, 2025

"The Federal Reserve Board announced on Monday that Michael S. Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision, effective February 28, 2025, or such earlier time as a successor is confirmed. Barr will continue to serve as a member of the Federal Reserve Board of Governors."

S&P Capital IQ | Friday, December 20, 2024

"State Street Corp. completed its $100 million initiative launched earlier in 2024 by placing additional deposits through three Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) — New Orleans, Louisiana-based Liberty Bank and Trust Co., Denver-based Native American Bank NA and Saint Paul, Minnesota-based Sunrise Banks NA.

In February, the company announced a goal to invest $100 million to facilitate low-cost, stable deposit funding to MDIs and CDFIs. State Street said the investment aligns with its broader business strategy to expand the financial market ecosystem and promote economic potential through long-term growth and job creation."

Banking with Interest | Tuesday, December 17, 2024

"Evan Weinberger, the banking reporter at Bloomberg Law, talks about the Trump administration's trial balloon to eliminate the FDIC or combine regulatory agencies. He also goes in-depth on the various fights the CFPB is engaged in, how the Trump administration could choose to tackle them, and what that would mean for banks."

Mission Driven Bank Fund | Tuesday, December 17, 2024

"The Mission Driven Bank Fund (MDBF) today announced that all seven portfolio banks are actively participating in its technical services program, which provides targeted support to the Fund's portfolio banks to build organizational capacity. The participation rate is well above the program's 75% goal.

All MDBF portfolio banks have access to the technical services program upon a capital investment. The program, designed to be collaborative, has two key goals. The first is to promote sustainability by strengthening the bank's financial performance and building staff capacity. The second is to help banks better serve their communities by deepening or growing their existing clients, expanding service areas, and/or investing in technology to improve the customer experience."

The Hill | Thursday, December 12, 2024

"House Republican leaders on Thursday choose Rep. French Hill (R-Ark.) to lead the House Financial Services Committee in the 119th Congress...

Hill was selected to lead the Financial Services panel, over Reps. Andy Barr (R-Ky.), Frank Lucas (R-Okla.) and Bill Huizenga (R-Mich.), according to two sources in the room of leaders who made the decision. Hill won on the second ballot after Lucas dropped off on the first ballot, one source said."

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