CDFI Fund: Application Demand for CY 2024-2025 Round of New Markets Tax Credit Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 216 applications for the calendar year (CY) 2024-2025 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…
Census Bureau: New Data Shows Growth in Metro Areas Outpaced Nation
Population growth in U.S. metro areas as a whole was faster between 2023 and 2024 than in the previous year and outpaced that of the nation. Additionally, some metro areas that experienced population declines during the COVID-19 pandemic are now observing population gains, according to Vintage 2024 estimates of population totals and components of change…
ABA: Foundation Partners with FBI to Release New Infographic Educating Consumers on Tech Support Scams
The ABA Foundation, in collaboration with the Federal Bureau of Investigation, today released a new infographic warning consumers about the increasing threat of tech support scams. The infographic aims to educate consumers, especially older Americans. According to data from the FBI’s most recent IC3 annual report, tech support and government impersonation scams caused approximately $1.3 billion in…
ICBA: In New Policy Resolution, ICBA Urges Congress to End Tax Subsidies for Credit Unions Over $1 Billion in Assets
With Congress considering legislation to reform the nation’s tax policy, the Independent Community Bankers of America (ICBA) today called on policymakers to end unwarranted federal tax subsidies for the nation’s largest credit unions. A new policy resolution that ICBA introduced at this week’s ICBA LIVE 2025 national convention in Nashville, Tenn., calls on lawmakers to…
OCC: Agency to Host Virtual Innovation Office Hours in May
The Office of the Comptroller of the Currency (OCC) today announced virtual Office Hours with its Office of Financial Technology on May 6-8, 2025, to promote responsible innovation in the federal banking system. Office Hours are an opportunity for banks and financial technology (fintech) companies to engage with OCC staff on matters related to bank-fintech…
CDFI Fund: FY 2025 CDFI Program or NACA Program Applications Due by March 21, 2025
As a reminder for fiscal year (FY) 2025 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) Applicants, the deadline for online submission of CDFI Program and NACA Program Application materials, including Persistent Poverty County-Financial Assistance (PPC-FA), Healthy Food Financing Initiative-Financial Assistance (HFFI-FA), and Disability Funds-Financial Assistance (DF-FA), through…
ABA: Banks, Credit Unions, Payments and Fintech Industries Highlight Harm APR Cap Legislation Would Have on Consumers in Letter
Leading financial groups that represent banks and credit unions of all sizes, along with the payments and fintech industries, today sent a letter to Representatives Alexandria Ocasio-Cortez (D-N.Y.) and Anna Paulina Luna (R-Fla.) to oppose their proposed legislation that would create an annual percentage rate (APR) cap for credit cards at 10 percent. This misguided legislation, which…
ABA: ABA Testifies Before Senate Ag Committee on Risk Management, Credit and the Agricultural Economy
The American Bankers Association offered the banking industry’s views on risk management, credit and the agricultural economy in testimony before the Senate Committee on Agriculture today. Caleb Hopkins, current chair of ABA’s Agricultural and Rural Bankers Committee, testified on behalf of ABA. Hopkins, based in Halbur, Iowa, has worked in agricultural banking for 13 years, including the…
SBA: Made in America Manufacturing Initiative Announced
Effort will cut $100B in regulation, expand access to capital and create dedicated infrastructure to support blue-collar boom Today, U.S. Small Business Administration Administrator Kelly Loeffler announced the agency’s new Made in America Manufacturing Initiative to restore American economic dominance and national security by empowering small manufacturers. The agency’s effort will support President Trump’s agenda to create good-paying jobs,…
HUD: Innovative Housing Showcase “The American Home is the American Dream” Returns to the National Mall
Showcase to run May 30 – June 1 and celebrate 250th Anniversary of American Independence Secretary Scott Turner today announced the return of the U.S. Department of Housing and Urban Development (HUD)’s Innovative Housing Showcase from May 30 – June 1 to the National Mall in Washington, D.C. This year’s showcase will highlight history-defining events in…