Recent News
"As California grapples with a rising cost of living, many residents remain locked out of basic financial services. To address this, the state legislature is considering a proposal to establish state-run bank accounts, giving Californians a way to save money without incurring fees or maintaining a minimum balance.
The CalAccount program would establish voluntary, zero-fee, zero-penalty, federally-insured transaction accounts that could help people who currently have limited access to banking options."
"The Office of the Comptroller of the Currency (OCC) announced today that it has conditionally approved the merger of Discover Bank, Greenwood, Delaware, into Capital One, National Association, McLean, Virginia.
The OCC conducted a fulsome review of the application submitted March 21, 2024, to ensure all statutory and regulatory requirements have been met. The approval also follows consideration of numerous public comments submitted in writing and expressed during a public meeting held with the Board of Governors of the Federal Reserve System conducted on July 19, 2024. Today's... Read more
"Acting Comptroller of the Currency Rodney E. Hood today discussed strategic areas of focus for the Office of the Comptroller of the Currency (OCC) in remarks at the Exchequer Club.
In his remarks, Acting Comptroller Hood detailed the OCC's efforts to reduce regulatory burden; promote financial inclusion; embrace bank-fintech partnerships; and expand responsible bank activities involving digital assets. He also affirmed the OCC's commitment to modernizing the federal banking system and maintaining its safety and integrity."
"A federal judge on Wednesday indefinitely blocked the Environmental Protection Agency (EPA) from clawing back billions of dollars in Biden-era climate grants.
U.S. District Judge Tanya Chutkan said the EPA may not suspend or terminate the green grant awards nor limit access to those funds while a lawsuit challenging the effort to recoup the money moves forward."
"The Office of the Comptroller of the Currency (OCC) today announced changes to its organizational structure to ensure its approach to supervision evolves to better address today's challenges, align similar functions within the agency, and leverage opportunities for efficiencies.
The OCC will combine the Midsize and Community Bank Supervision and Large Bank Supervision functions to create the Bank Supervision and Examination line of business. Blending the large, midsize and community bank supervision activities will allow for the seamless sharing of expertise and resources to... Read more
"Reps. Darin LaHood (R-Ill.) and Suzan DelBene (D-Wash.), along with 114 bipartisan cosponsors, have introduced NAHB-supported legislation that will improve the Low-Income Housing Tax Credit (LIHTC) and allow builders to increase production of badly needed affordable rental housing.
The Affordable Housing Credit Improvement Act of 2025 addresses the need to boost housing production to ease the nation's housing affordability crisis. The bill would help finance more than 2 million additional multifamily units over the next decade."
"The US Treasury Department no longer intends to take a backseat in US bank regulation and is moving to the driver's seat instead.
Speaking at the American Bankers Association's Washington Summit on April 9, US Treasury Secretary Scott Bessent laid out a road map for the future of US bank regulation, a task given to him by President Donald Trump. Among those potential changes are tailored regulations for community banks, increased focus on financial risk versus management and governance, modernized capital requirements and reassessed capital buffers for large banks."
CDBA Members and Colleagues,
The past month has brought a wave of policy developments—and growing challenges—for the CDFI industry. Amid it all, your advocacy has made a meaningful impact. Thanks to the collective efforts of CDFIs and allies across the country, we’ve secured several key wins:
- Preserved FY25 funding for the CDFI Fund at FY24 levels, despite broader budget pressures.
- ... Read more
"As the Department of Government Efficiency and other members of the administration continue clear-cutting the federal workforce, organizations that rely on the CDFI Fund to develop affordable housing, support minority-owned businesses and deliver disaster recovery in low-income parts of the country expressed concerns about what the order could mean for those efforts. CDFIs have a track record helping communities across the US, including the rural areas Trump has said he wants to help, so it's confusing for leadership of these organizations to be targeted. Considering current efforts to... Read more
"In celebration of KeyBank's (NYSE: KEY) Bicentennial, the KeyBank Foundation is proud to announce a special grant program designed to strengthen Community Development Financial Institutions (CDFIs) that play a critical role in advancing affordable housing and small business development. This milestone initiative reflects KeyBank's enduring legacy of service, resilience, and commitment to fostering economic opportunity and strengthening communities.
Through this program, the KeyBank Foundation intends to award one $200,000 grant to an exemplary CDFI in each of KeyBank's 27 markets.... Read more
"Community development financial institutions (CDFIs) have emerged as pivotal players in bridging financial gaps in underserved communities. Between 2014 and 2024, CDFIs grew sevenfold, reaching $436 billion in assets by the end of 2024.
This growth has enabled CDFIs to serve a growing number of places, especially residents and business owners in Black and Indigenous communities and communities of color. In particular, CDFIs played a critical role in helping business owners of color access vital Paycheck Protection Program dollars during the pandemic, at a time when conventional... Read more
"Credit insecurity is regionally concentrated, with concentrations in the South and Appalachia. Credit Insecure places have higher shares of the population who live in rural areas, do not have bachelor's degrees, and rent their homes."
"For the past three decades, a little-known fund housed in the U.S. Department of the Treasury has been quietly fueling economic growth in communities across the country. With an astonishing return on investment, the Community Development Financial Institutions, or CDFI, Fund has unlocked billions in private capital in economically distressed urban, rural and Native communities that are often overlooked by mainstream financial institutions. The CDFI Fund has a 30-year track record of providing resources to local CDFIs — loan funds, credit unions and banks — that finance what is important... Read more
"The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA framework that existed prior to the October 2023 final rule. The agencies will continue to work together to promote a consistent regulatory approach on their implementation of the CRA."
"Yesterday, the United States Senate confirmed Michael Faulkender to be the Deputy Secretary of the United States Department of the Treasury.
'It is an honor to be confirmed as the Deputy Secretary of the United States Department of the Treasury. Thank you, President Trump, for the trust and confidence you have placed in me, and I thank Secretary Scott Bessent for his unwavering support,' said Michael Faulkender. 'I look forward to working with Secretary Bessent in delivering prosperity for the American people, the reprivatization of our economy, national security through economic... Read more
"Community Development Financial Institutions (CDFIs) play a crucial role in providing financial services to low-income communities—areas often overlooked by traditional banks. These mission-driven lenders offer affordable loans to small businesses, schools, grocery stores, daycare centers, and homebuyers who would otherwise struggle to access capital, helping to spur economic growth and stability across the country. Shrinking or defunding CDFIs threatens to dismantle this vital system, cutting off financial access for those who need it most. Without CDFI funding, many will face an even... Read more
"We're so excited to announce that New York State Comptroller Thomas P. DiNapoli and Department of Financial Services Superintendent Adrienne A. Harris have approved our Red Hook Branch as a Banking Development District (BDD) and deposited $10 million in public funds to our bank!
As a community bank in New York, opening our Red Hook branch was a major win for us and the Red Hook community. We're committed to offering affordable and inclusive NY banking solutions to every New Yorker, and as the first bank in Red Hook in over 10 years, we're doing just that. Receiving the BDD... Read more
"The U.S. Department of the Treasury plans to lay off a 'substantial' number of employees as part of the Department of Government Efficiency's effort to shrink the size of the federal government, a department official said in a declaration included in a court filing.
The department is finalizing its plans in response to President Donald Trump's February 11 executive order that directed agency heads to 'undertake preparations to initiate large-scale reductions in force,' according to the declaration from Trevor Norris, the deputy assistant secretary for human resources for the... Read more
"In a series of posts to his account on social media platform X, Federal Housing Finance Agency (FHFA) Director Bill Pulte published housing orders that terminate special purpose credit programs (SPCPs) and rescinds a 2024 advisory bulletin detailing the agency's enforcement against unfair or deceptive acts or practices (UDAP)."
"Two Mississippi banks on Friday announced plans to merge in a deal that would enable the acquirer to bolster its presence in the southern part of the state, where a larger competitor is also bulking up.
BankFirst Capital Corp. said it will acquire The Magnolia State Corp. in a transaction that would create a $3.2 billion-asset company. The deal's financial terms were not disclosed."