Up to $750 Million in Bond Guarantee Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2015 application period for the CDFI Bond Guarantee Program. Application materials are available on the CDFI Fund’s website in anticipation of the […]
CFPB: Nationwide Effort to Advance Financial Education in Schools Launched
CFPB Publishes Resource Guide for Policymakers WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau announced that it is launching a nationwide effort to advance financial education in schools. The Bureau is publishing “Advancing K-12 Financial Education: A Guide for Policymakers,” a resource guide which contains strategies for furthering the development […]
OCC: CRA Evaluations for 26 National Banks and Federal Savings Associations Released
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of March 1, 2015 through March 31, 2015. The list contains only national banks, federal savings associations, and insured federal branches of […]
FDIC: List of Banks Examined for CRA Compliance Issued
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in January 2015. The CRA is a 1977 law intended to encourage insured banks and […]
CFPB: Considering Proposal to End Payday Debt Traps
Proposal Would Cover Payday Loans, Vehicle Title Loans, and Certain High-Cost Installment and Open-End Loans WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) announced it is considering proposing rules that would end payday debt traps by requiring lenders to take steps to make sure consumers can repay their loans. […]
Federal Reserve: Survey Provides Information on Mobile Financial Services
The use of mobile phones to access bank accounts, credit cards, or other financial accounts continued to increase among adults in the United States last year, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2015 (PDF). The report is the Board’s fourth looking at how consumers access banking […]
ABA: CFPB Prepaid Rules Could Harm Underbanked Customers
In a news release, the American Bankers Association commented on the CFPB’s proposed rulemaking regarding prepaid cards: “The CFPB’s proposed rules for prepaid products include some onerous provisions that could create insurmountable compliance barriers for banks offering the cards, ABA said in a comment letter. This would be particularly harmful […]
OCC: Deputy Comptroller of Community Affairs Discusses Community Development
NEW YORK — Deputy Comptroller for Community Affairs Barry Wides today discussed how the Public Welfare Investment authority and the Community Reinvestment Act foster community and economic development, during remarks before the Association for Neighborhood and Housing Development, Inc. Related Links Remarks (PDF) Deputy Comptroller for Community Affairs Barry Wides
CDFI Fund: Public Comments on BEA Program Evaluation Sought
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. […]
ABA: 5 Smart Uses for Your Tax Refund
ABA offers consumer tips for putting tax refunds to good use WASHINGTON — Nearly eight out of 10 U.S. tax filers will receive a federal tax refund this year. As millions of Americans await reimbursement from Uncle Sam, the American Bankers Association has highlighted five tips for making the most […]