OCC: Perspective on Responsible Innovation Published; Feedback Solicited
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published its perspective on responsible innovation in the federal banking system and solicited feedback on what more it could do to support innovation that better serves consumers, businesses, and communities. In Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective, the agency summarizes its…
Federal Reserve: New Survey Provides Information on Mobile Financial Services
Mobile banking use continued to rise last year as smartphone adoption grew and consumers were increasingly drawn to the convenience of mobile financial services, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2016, released on Wednesday. The report documents consumers’ use of mobile phones–Internet-enabled smartphones as well as more basic phones with limited…
CDFI Fund: FY 2016 Funding Round for CDFI Program and NACA Program Opens
Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2016 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). Congress appropriated the CDFI Fund $190.5 million in FY 2016 in Financial Assistance (FA) and Technical…
ABA: Safe Banking For Seniors Program Launched
New, turnkey curriculum available for America’s hometown banks WASHINGTON — The American Bankers Association today launched its Safe Banking for Seniors program with the release of newly created curriculum and other materials. The program, first announced in September 2015, will mobilize bankers across the country to educate older Americans and their caregivers about elder financial…
OCC: Comptroller of the Currency Discusses Revitalizing Communities
LOS ANGELES — Comptroller of the Currency Thomas J. Curry today discussed efforts to help revitalize communities and highlighted how community members can voice their concerns. Remarks came during a speech before the 2016 National Interagency Community Reinvestment Conference. Related Links: Remarks (PDF) Comptroller of the Currency Thomas J. Curry
CDFI Fund: Application Demand for 2015 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 238 applications under the 2015 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program encourages economic development in low-income and distressed communities by making tax credits available to Community Development…
ABA: Six Banks Honored with Community Commitment Award
WASHINGTON — The American Bankers Association has recognized six banks for their noteworthy corporate social responsibility with a 2015 ABA Community Commitment Award. The awards, sponsored by the ABA Foundation, were given to banks for their endeavors in categories ranging from affordable housing to community and economic development. Winners will be presented with their award at ABA’s…