Recent News
CDBA member Carver Bancorp, Inc., the holding company for Carver Federal Savings Bank, announced that Lewis Jones III, Kenneth Knuckles and Colvin Grannum have been appointed to the Company's Board of Directors. Lewis Jones III is managing principal and co-founder of 5 Stone Green Capital. Kenneth Knuckles is the president and chief executive officer of the Upper Manhattan Empowerment Zone Development Corporation. Colvin Grannum is president of the Bedford Stuyvesant Restoration Corporation. "Carver is pleased to announce the appointment of three exceptional business... Read more
Community Development Bankers Association Press Release
WASHINGTON (September 24, 2013) – Eight CDBA Members received $9.526 million of a total of $12.3 million in awards to CDFI banks in the FY 2013 funding round of the CDFI Program. $172 million in awards were distributed in total by the CDFI Fund. Six of the eight CDBA members were awarded the maximum amount of $1,347,000.
The following CDBA members have received CDFI Core (Financial Assistance) Awards:
... Read moreFrom the Washington Post: "Banks used billions from a small-business lending program to repay government bailout funds, rather than for its intended purpose — making more loans to mom-and-pop operations, according to a watchdog report released Tuesday. The Small Business Lending Fund dished out more than $4 billion to 332 community banks, credit unions, and community development financial institutions to lend to Main Street businesses. By signing up for the lending program, banks could convert their TARP obligations into a lower-interest loan and escape restrictions on executive... Read more
On April 8, 2013 the membership of the Community Development Bankers Association submitted a comment letter to the CDFI Fund in response to the Community Development Financial Institution Fund’s (CDFI Fund) request for public comment on the Interim Final Rule implementing the CDFI Bond Guarantee Program (CBGP). The Interim Final Rule was published in the Federal Register on February 5, 2013. We thank the CDFI Fund for the opportunity to comment and urged the U.S. Department of Treasury to implement the program in a manner that enables the entire, diverse CDFI sector to use the program for... Read more
The Technical Assistance Video Program is a series of educational videos designed to provide useful information to bank directors, officers and employees on areas of supervisory focus and regulatory changes.
New Director Education Series
The first release of videos provides information to new bank directors about their fiduciary role and responsibilities as well an overview of the FDIC’s Risk Management and Compliance Examination processes. These videos are available on the FDIC's YouTube channel.
... Read more
In an article entitled "Small Banks Developing Ways to Compete Against Payday Lenders," the American Banker featured CDBA member One PacificCoast Bank. The article states, "More community banks are preparing to fight payday lenders and technology upstarts for a bigger share of short-term, small-dollar loans. For smaller institutions such One PacificCoast Bank in Oakland, Calif., and National Bank & Trust of Sycamore in Illinois, the battle isn't about booking loans. Rather, the goal is to win back fee income that community banks have ceded to others in recent years."... Read more
On March 19, 2013 the Community Development Bankers Association (CDBA) submitted formal comments to the Consumer Financial Protection Bureau (CFPB) in response to the Bureau’s proposed amendments to the Ability to Repay Standards under the Truth in Lending Act (Regulation Z), as published in the Federal Register on January 10, 2013.
In summary, CDBA supports the CFPB's recognition of the important contribution made by Community Development Financial Institutions (CDFIs) in serving underserved urban and rural markets. We fully appreciate the CFPB for recognizing the regulatory burden... Read more
CDBA member Sunrise Banks announced Monday that it will consolidate its three Twin Cities bank brands—Franklin Bank, Park Midway Bank, and University Bank—under the Sunrise brand, effective April 1. Sunrise has received regulatory clearance for the merger, and the combined bank will have more than $750 million in assets, eight Twin Cities branch locations, and an office in Sioux Falls, South Dakota. The consolidation comes shortly after Sunrise Chairman Bill Reiling transferred ownership of the business to David Reiling, his son and the company’s CEO.... Read more
The CDFI Fund is pleased to have met a critical milestone in the implementation of the CDFI Bond Guarantee Program: the release of the interim rule in the Federal Register on February 5, 2013. Comments are welcomed and are due on April 8, 2013. To ensure that the industry has complete and accurate information about the CDFI Bond Guarantee Program, it posted the PowerPoint presentation used during those information sessions. The presentation can be found on the CDFI Fund’s website. The CDFI Fund hopes the information provided in the presentation will be useful to Qualified Issuer and... Read more
The Office of the Comptroller of the Currency manages a directory of minority-owned financial institutions, including women-owned banks, as well as resources for learning more about these institutions that are often more sensitive to the specialized needs of the communities they serve. In fact, one of the OCC’s recommended resources is MinorityBank.com, which published a listing by Creative Investment Research, Inc. of the top five women- and minority-owned financial institutions, naming the Central Bank of Kansas City as the best bank for women. According to MinorityBank.... Read more
The Center for Financial Services Innovation has launched an "Impact of Innovation" series, profiling "enterprises and executives who are driving positive change across the financial services landscape." CFSI aims to highlight "why innovation is beneficial to both consumers and the marketplace" by providing examples of organizations leading the way on innovation and impact.
As part of this series CSFI profiled CDBA member Sunrise Community Banks, located in the Twin Cities, recognizing them for their innovation in providing general purpose reloadable prepaid debit cards. As Chief... Read more
A report released by the UNC Center for Community Capital details flaws in the methodology and conclusions of a new paper seeking to discredit the Community Reinvestment Act, enacted in 1977 to encourage regulated financial institutions to meet the credit needs of their communities in a safe and sound manner.
Researchers urged policymakers and practitioners to resist being distracted by a widely rejected thesis promoted in a December paper issued by the National Bureau of Economic Research. The "'blame the CRA' story has been refuted by industry leaders and researchers time and time... Read more
When banks carefully track small, significant changes in their customers’ financial situations, these institutions can improve their fortunes and compete more effectively. First-Mover Matters: Building credit Monitoring for Competitive Advantage, a report from McKinsey’s risk practice, shows that one way to better monitor credit is to tap analytics and specialists to spot quantitative and even qualitative early-warning signs of borrower trouble. Another approach is to set up formal triggers for timely intervention that can guide customers back to financial health or limit further... Read more
Although launched only two years ago, Start Community Bank has already been recognized for its work with low- and moderate-income communities in New Haven, Connecticut. A certified community development bank and CDBA member, Start received a Bank Enterprise Award of over $285,000 from the U.S. Department of the Treasury's Community Development Financial Institution's Fund.
Read more about Start Community Bank and its local lending work via this story... Read more
BankPlus, a certified community development bank and CDBA member, is located in Mississippi, the state with the most payday lenders per capita. But executives at the Bank were not willing to stand by as these payday lenders charged extremely high rates to often low-income borrowers. Instead, BankPlus decided to offer a small-dollar loan product with better terms and outcomes. According to BankPlus President and CEO Bill Ray, "The idea was to create a program to assist anyone caught in the payday lending cycle, but also to serve the underbanked who seek to enter the commercial banking... Read more
Nonprofit organization Neighborhood Housing Services of Chicago seeks a director of lending services responsible for leading the overall mortgage lending efforts of its CDFI affiliate Neighborhood Lending Services, Inc. The director of lending services develops sales production goals, assigns target sales objectives for the various mortgage loan products and meets production goals.
CDFI consulting agency FUND Consulting is looking for a consultant to serve as project manager for annual service package clients and discrete projects. This role participates in the development and implementation of project plans and represents the company at external functions. The ideal candidate will have CDFI experience, a bachelors degree, and possess excellent writing, communications and organizational abilities.
CDBA member One PacificCoast Bank seeks a commercial lending relationship manager. As clients' primary contact with the bank, the relationship manager must understand and articulate the mission of One PacificCoast Bank to clients, prospects and community members. This position is responsible for day-to-day client relationships and business development efforts in order to meet individual performance goals and achieve the bank’s growth objectives. The relationship manager reports to the chief lending officer.
Broadway Federal Bank seeks a loan review credit analyst to perform loan reviews of credits held it in the bank’s commercial lending portfolio. The loan review process will focus on assessing credit quality and will require an understanding of and familiarity with multifamily real estate lending, financial statements and tax returns.
CDBA member Carver Federal Savings Bank has several open positions.
The chief compliance officer is responsible for establishing and maintaining the bank’s compliance program. In addition, this position will provide strategic advice on the bank's regulatory and compliance environment, technical guidance on specific compliance matters and supervision of compliance staff.
... Read more