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"Leroy Abrahams, head of Community Engagement at Regions, welcomed the attendees of the third annual Regions Bank CDFI Convening by outlining shared priorities for the leaders in the room. . . .
John Olaimey, President and CEO of Southern Bancorp Bank, led a discussion about the history and primary objectives of CDFIs and how their corporate organizational structure allows them to effectively serve their communities. Olaimey recounted that Southern Bancorp was one of the first CDFIs in existence and talked about their priority to 'balance margin and mission. . .'
The final hour of the meeting was dedicated to a roundtable discussion about business loan underwriting, led by Danielle Ware of Hope Credit Union and Charlie Breedlove and Lawrence Johnson of Friend Bank. These executives outlined their innovative and solutions-based underwriting processes and services."
The U.S. Department of the Treasury highlighted several CDBA member banks for their leadership in advancing economic opportunity through the Emergency Capital Investment Program (ECIP). These banks were part of a coalition that lead the way in forging public-private partnerships that bring essential capital to underserved rural and urban communities.
Member banks like First Independence Bank, Asian Bank, Locus Bank, M&F Bank NC, Native American Bank, N.A., Optus Bank, and Southern Bancorp drive Deep Impact Lending, fueling small business growth, expanding access to affordable housing, and supporting critical community services.
In a speech on September 10th, Fed Governor Barr expressed his intent "to recommend that the Board re-propose the Basel endgame and G-SIB surcharge rules. This will provide the public the opportunity to fully review a number of key, broad, and material changes to the original proposals and provide comment. (The Federal Reserve) will accept public comments on any aspect of the Basel endgame and G-SIB surcharge proposals."
"Rep. Andy Barr, the chair of the House financial institutions subcommittee, discusses why he should lead Republicans on the Financial Services Committee next year. He offers a preview of his agenda, including pushing legislation that would prevent banks from denying legal businesses access to financial services and why large institutions are suddenly supporting it. He also details what changes regulators should make in new Basel III capital rules, how regulatory reform for banks could happen, and why M&A approval rules should be revamped."
CDBA extends our congratulations to members Susan Chapman Plumb of Local Bank and Darrin L. Williams of Southern Bancorp on being appointed an reappointed to the CDFI Fund's Advisory Board!
"Today, the White House announced new appointments by President Biden to the Community Development Advisory Board (the Advisory Board), a 15-person federal advisory committee to the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). The function of the Advisory Board is to advise the CDFI Fund's Director on the policies regarding the activities and programs of the CDFI Fund.
'I am pleased to congratulate and welcome this esteemed group of professionals who share the CDFI Fund's vision of an America in which all people and communities have access to the investment capital and financial services they need to prosper,' said CDFI Fund Director Pravina Raghavan."