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- "If your FDIC-insured bank or thrift is considering submitting an application to the upcoming fiscal year (FY) 2024 funding round for the Bank Enterprise Award Program (BEA Program), you may find the following information helpful as you plan.
- The CDFI Fund anticipates opening the FY 2024 BEA Program application round in the spring of 2024. This will ensure that the CDFI Fund can review the applications and announce awards in fall of 2024.
- Only banks and thrifts can apply for the BEA Program. Bank holding companies and other financial institutions are not eligible to apply.
- BEA Applicants are not required to be Certified CDFIs to apply. However, the CDFI Certification status is a factor in the BEA Award calculation for most Qualified Activities.
- Applicants must have required ID numbers, including Unique Entity Identifier (UEI) and Employer Identification Number (EIN), and up-to-date login credentials for System for Award Management (SAM.gov), Grants.gov, and the CDFI Fund's Awards Management Information System (AMIS). First-time applicants should set up their SAM.gov, Grants.gov, and AMIS accounts today! See the 'Required ID Numbers and Accounts Needed to Apply to FY 2024 BEA Program' section below for more detail.
- Since program rules prohibit FDIC-insured banks or thrifts that are Certified Community Development Financial Institutions (CDFIs) from receiving a BEA Program Award and a CDFI Program Award in the same 12-month period or a pending CDFI Program application, please plan accordingly. See the "Eligibility Requirements for FY 2024 BEA Program Applicants with CDFI Fund Awards" section below for more detail."
"The Community Development Financial Institutions Fund (CDFI Fund) is convening a meeting of the Community Development Advisory Board (the Advisory Board) from 1:30 p.m. to 4:30 p.m. Eastern Time on Thursday, April 11, 2024. The Advisory Board meeting will be held in Cash Room at the U.S. Department of the Treasury located at 1500 Pennsylvania Avenue, NW, Washington, DC 20220.
The function of the Advisory Board is to advise the Director of the CDFI Fund on the policies regarding the activities of the CDFI Fund. The Advisory Board does not advise the CDFI Fund on approving or declining any particular application for monetary or non-monetary awards.
Please use the following link to view the official meeting notice."
"The Community Development Financial Institutions Fund (CDFI Fund) is convening a meeting of the Community Development Advisory Board (the Advisory Board) from 1:30 p.m. to 4:30 p.m. Eastern Time on Thursday, April 11, 2024. The Advisory Board meeting will be held in Cash Room at the U.S. Department of the Treasury located at 1500 Pennsylvania Avenue, NW, Washington, DC 20220.
The function of the Advisory Board is to advise the Director of the CDFI Fund on the policies regarding the activities of the CDFI Fund. The Advisory Board does not advise the CDFI Fund on approving or declining any particular application for monetary or non-monetary awards.
Please use the following link to view the official meeting notice."
"President Biden on Saturday signed a $1.2 trillion government funding bill to stave off a government shutdown, capping a frenetic sprint by lawmakers to pass the final batch of appropriations measures.
Biden praised the measure as a compromise, and 'good news for the American people. This agreement represents a compromise, which means neither side got everything it wanted.'
The House passed the legislation Friday with a bipartisan 286-134 vote, which spurred a push among some conservatives to oust Speaker Mike Johnson (R-La.).
The bill passed the Senate in a 74-24 vote early Saturday morning following hours of intense negotiations.
The legislation provides $1.2 trillion in funding for the departments of Defense, Homeland Security (DHS), Labor, Health and Human Services, State, as well as general government, financial services and foreign operations."
"The Michigan Bankers Association recently named Kenneth Kelly, chairman and CEO of First Independence Bank, as the recipient of the 2024 MBA Banker of the Year award. Kelly is also vice chair of the ABA board.
Under Kelly's leadership, the Detroit-based minority depository institution has risen to become the seventh largest African American–controlled commercial bank in the country, according to MBA. Kelly led First Independence Bank's national expansion efforts with bank branches both in Detroit and in the Twin Cities through an unprecedented multi-bank collaborative effort. Over the last several years, First Independence Bank grew from approximately $250 million in assets to more than $600 million."