News

CDBA | Wednesday, November 20, 2019

On Wednesday, November 20th, the Clinton Foundation hosted the "Economic Inclusion and Growth: The Way Forward" conference at the Clinton Presidential Center in Little Rock, Arkansas to celebrate the 25th anniversary of the CDFI Fund and to honor the leaders of the CDFI industry. At the conference, Former President Bill Clinton recognized CDBA CEO Jeannine Jacokes by discussing her role as the leader of the trade association for CDFI banks, as well as a leader in the loan fund space as the CEO of Partners for the Common Good (PCG). Specifically, he lauded the recent work of CDBA and PCG on the Impact at Scale Initiative, the first industry training program focused on large-scale impact.

CDBA | Wednesday, November 20, 2019

On Wednesday, November 20th, the Clinton Foundation hosted the "Economic Inclusion and Growth: The Way Forward" conference at the Clinton Presidential Center in Little Rock, Arkansas to celebrate the 25th anniversary of the CDFI Fund and to honor the leaders of the CDFI industry. At the conference, Former President Bill Clinton recognized CDBA CEO Jeannine Jacokes by discussing her role as the leader of the trade association for CDFI banks, as well as a leader in the loan fund space as the CEO of Partners for the Common Good (PCG). Specifically, he lauded the recent work of CDBA and PCG on the Impact at Scale Initiative, the first industry training program focused on large-scale impact.

CDBA | Tuesday, November 19, 2019

The US Department of Treasury's Community Development Financial Institutions (CDFI) Fund today awarded $31.37 million to 43 community development banks and bank holding companies through its CDFI Program and Native American CDFI Assistance (NACA) Program Awards. With the awards, these banks will provide much-needed capital investments to small businesses and other critical community development projects such as affordable housing, neighborhood revitalization, and expansion into new geographic markets.

CDBA | Tuesday, November 19, 2019

The US Department of Treasury's Community Development Financial Institutions (CDFI) Fund today awarded $31.37 million to 43 community development banks and bank holding companies through its CDFI Program and Native American CDFI Assistance (NACA) Program Awards. With the awards, these banks will provide much-needed capital investments to small businesses and other critical community development projects such as affordable housing, neighborhood revitalization, and expansion into new geographic markets. The CDFI Program awards include Financial Assistance (FA), Technical Assistance (TA), Disability Funds, and the Healthy Food Financing Initiative.

Black Enterprise | Wednesday, November 6, 2019

Expanding its presence into New Jersey and New York, Washington, D.C.-based Industrial Bank has acquired City National Bank of New Jersey, based in Newark. The deal means Industrial Bank will pick up two City National branches in Newark and one in Harlem, New York. The transaction came after City National Bank failed and was shut down on Nov. 1 by the Office of the Comptroller of the Currency (OCC). The regulator appointed the Federal Deposit Insurance Corp. as a receiver. City National’s operations were sold to Industrial Bank, which acquired City National’s deposits along with essentially all of its assets.

CDBA | Tuesday, October 29, 2019

The StoryBank Project is a CDBA initiative to capture success stories of our member banks. These stories show how underserved communities benefit directly from mission-based banking and financial services. Our latest video highlights Citizens National Bank in Meridian, Mississippi. One client, Weidmann's Restaurant, will celebrate its 150th anniversary next year, making it the oldest continuously running restaurant in Mississippi. Another client, Adrian Cross, was able to buy a home for the first time.

New York Times | Saturday, October 26, 2019

In the 1980s, Michael Milken embodied Wall Street greed. A swashbuckling financier, he was charged with playing a central role in a vast insider-trading scheme and was sent to prison for violating federal securities and tax laws. He was an inspiration for the Gordon Gekko character in the film "Wall Street." Mr. Milken has spent the intervening decades trying to rehabilitate his reputation through an influential nonprofit think tank, the Milken Institute, devoted to initiatives “that advance prosperity.” These days, the Milken Institute is a leading proponent of a new federal tax break that was intended to coax wealthy investors to plow money into distressed communities known as “opportunity zones.” The institute’s leaders have helped push senior officials in the Trump administration to make the tax incentive more generous, even though it is under fire for being slanted toward the wealthy. Mr. Milken, it turns out, is in a position to personally gain from some of the changes that his institute has urged the Trump administration to enact. In one case, the Treasury secretary, Steven Mnuchin, directly intervened in a way that benefited Mr. Milken, his longtime friend.

Denver Post | Friday, October 25, 2019

After overcoming numerous obstacles, and getting knocked to the ground earlier this decade, Native American Bank is solidly on its feet again and moving in a new direction. "It's all about perseverance, about the will to succeed," said chairman Kent Paul, at an opening ceremony for the bank's new location at 201 N. Broadway on Thursday. The Denver-based bank has left behind a 24th-floor office in a downtown highrise it leased for a building it owns on Broadway, a location that is street-level and more accessible. It will join a long-running retail branch the bank operates in Browning, Mont., serving members of the Blackfeet Nation, providing lessons on how to compete in consumer banking. Most of the bank's business has focused on commercial borrowers, but NAB, with the help of technology, wants to serve more individuals, said NAB president and CEO Thomas Ogaard.

FDIC | Friday, October 25, 2019

Please join us as we examine the process that the FDIC uses to market failed bank franchises to other eligible insured banks. While the FDIC does not expect significant failure activity in the near future, it is important to periodically offer information and technical assistance regarding the process by which eligible CDFI banks may bid on failing institutions so you can better understand the process, the benefits for your institutions, and can explore whether you might be interested in future opportunities. The FDIC recently updated its franchise marketing documents and this is an opportunity for new and experienced bidders to learn more about the process. Register by November 4 at 1pm Eastern Time.

Campaigns & Elections | Thursday, October 24, 2019

Hearings and bill mark-ups are commonplace in many committees in the House of Representatives and Senate every day. These routine-but-important parts of the legislative process are great opportunities to leverage your advocacy goals. A hearing or mark-up is a perfect opportunity to activate your advocates with a specific call to action (CTA). Your advocacy appeal can be issued before a hearing, during, after, or "all of the above" for maximum effect. Beyond your traditional email, text and social media campaign you can get a little more disruptive and creative for maximum effect. More often cameras are on — even if it's C-Span 3 — media are present, and the stage is set for a focused discussion on a topic that can advance your agenda. Here are a few ways to get the most out of a hearing and leverage it for your advocacy efforts.

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