Reauthorization of the Community Development Banking and Financial Institutions Act of 1994

hearing before the Subcommittee on Financial Institutions and Regulatory Relief of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fifth Congress, second session ... May 13, 1998. by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief.

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Cover of: Reauthorization of the Community Development Banking and Financial Institutions Act of 1994 | United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief.
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  • United States.

Subjects:

  • United States. Dept. of the Treasury.,
  • Community development -- Law and legislation -- United States.,
  • Financial institutions -- Law and legislation -- United States.,
  • Federal aid to community development -- United States.,
  • Economic assistance, Domestic -- Law and legislation -- United States.

Edition Notes

  • Community Development Bank A mission-driven private financial institution that provides financial services to individuals, businesses, and communities underserved by traditional financial institutions. Authorized by the Community Development, Credit Enhancement, and Regulatory Improvement Act of , key attributes of these institutions.   The Community Reinvestment Act encourages bank lending to low- and moderate-income neighborhoods. Enacted in , it sought to eliminate bank “redlining” of poor neighborhoods. That had contributed to the growth of ghettos in the s. In redlining, neighborhoods were designated as not good for investment. ShoreBank was a community development bank founded and headquartered in the time of its closing it was the oldest and largest such institution, and in had $ billion in assets. It was owned by ShoreBank Corporation, a regulated bank holding company. The initial impact of the Community Reinvestment Act on the regulation of financial institutions was not dramatic. For many years after its adoption in , the CRA was little more than a vague statement of principle without much real-world effect.5 In , how-ever, Congress greatly enhanced the CRA's impact as part of.

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, led Committee Democrats in releasing the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. ), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic. The Reinvented Community Reinvestment Act By Hal S. Scott The Community Reinvestment Act (CRA), enacted in during the Carter Admini- stration, requires federal banking .   The federal banking agencies on July 15 issued interagency questions and answers regarding the Community Reinvestment Act, offering guidance to help regulated financial institutions meet the credit needs of their entire communities. The guidance addresses alternative systems for delivering retail banking services; community development-related issues; and the qualitative . Contained in this legislation was a provision that dramatically revised the priority of claims on failed depository institutions. The Act's effect was to give depositors (and, by implication, the Federal Deposit Insurance Corporation [FDIC]) a superior, or preferred, claim on a failed bank's assets relative to that of other general creditors.

Financial Markets, Financial Institutions, and Fiscal Service. Cash and Debt Forecasting. Debt Limit. Financial Stability Oversight Council. Federal Insurance Office. RESTORE Act. Program. The Community Development Financial Institution (CDFI) Fund. Making Home Affordable. § Prohibited uses of bank's own stock; other investments or loans. A. No bank shall: 1. Acquire or own its own stock except to protect itself against loss from debts previously contracted, in which case the stock shall be disposed of within 12 months after it is acquired, and except as herein permitted;. In his first action as Chairman of the Senate Banking Committee, Riegle led the efforts to reform the savings and loan industry, which resulted in the Financial Institutions Recovery, Reform, and Enforcement Act of ("FIRREA"). The toughest financial reform bill in 50 years, FIRREA ended the abuses and reformed the savings and loan industry. savings bank − Gramm Leach Bliley Act grandfathered existing unitary SLHCs, • investment in community development corporations; • financial data processing services • management consulting for other financial institutions Approval 4(c) Activities 5. Banking Powers – .

Reauthorization of the Community Development Banking and Financial Institutions Act of 1994 by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Regulatory Relief. Download PDF EPUB FB2

Reauthorization of the Community Development Banking and Financial Institutions Act of hearing before the Subcommittee on Financial Institutions and Regulatory Relief of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fifth Congress, second session.

Reauthorization of the Community Development Banking and Financial Institutions Act of hearing before the Subcommittee on Financial Institutions and Regulatory Relief of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fifth Congress, second session rows  Community Development Banking and Financial Institutions Act of Pub.

S. (rd). An Act to facilitate the establishment of community development financial institutions, to provide consumer protections for high cost mortgages, to encourage investment in and lending to small businesses, to improve the regulation of depository institutions, and for other purposes.

Ina database of bills in the U.S. Congress. H.R. —REAUTHORIZATION OF THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, AND H.R. —THE PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS ACT OF WEDNESDAY, U.S.

House of Representatives, Committee on Banking and Financial Services, Washington, DC. This subtitle may be cited as the "Community Development Banking and Financial Institutions Act of ". [Codified to 12 U.S.C. note] [Source: Section of title I of the Act of Septem (Pub.

; Stat. ), effective Septem ] SEC. Title V: Fair Trade in Financial Services - Fair Trade in Financial Services Act of - Amends the International Banking Act of to direct the Secretary of the Treasury (the Secretary) to: (1) identify the extent to which a foreign country denies national treatment to U.S.

banking and securities organizations; and (2) determine whether. communities, and carries out the Community Development Banking and Financial Institutions Act ofas well as certain programmatic provisions of the Community Renewal Tax Relief Act ofthe Housing and Economic Recovery Act ofand the Small Business Jobs Act of building private markets, improving local tax.

H.R. (rd). To reduce administrative requirements for insured depository institutions to the extent consistent with safe and sound banking practices, to facilitate the establishment of community development financial institutions, and for other purposes. Ina database of bills in the U.S. Congress.

(2) has ever received assistance, under section of the Community Development Banking and Financial Institutions Act offor the same activity during the same semi-annual period for which the institution seeks a community enterprise assessment credit under this section.

(h) PRIORITY OF AWARDS (1) QUALIFYING LOANS AND SERVICES   Early in his tenure, President Bill Clinton proposed legislation that was eventually enacted as The Riegle Community Development Banking and Financial Institutions Act of The Community Reinvestment Act (CRA, P.L.

91 Stat.title VIII of the Housing and Community Development Act of12 U.S.C. § et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.

Banking Institutions Act 2 of (GG ) brought into force on 1 April by GN 63/ (GG ) as amended by. Banking Institutions Amendment Act 14 of (GG ) came into force on date of publication: 5 November Government Notice 34 of (GG ) under the authority of section 2(3) of the Act.

Subtitle A. Community Development Banking and Finan-cial Institutions Act 3 A. Introduction 6 1. Capital access problems 6 2.

Role of mainstream lenders 7 3. Market needs in distressed communities and capital gaps 8 4. Role of community development financial institutions 9 a. Advantages of CDFIs 9 b.

Types of CDFIs 10 c. Small scale of CDFIs 21 ‘‘(1) COMMUNITY DEVELOPMENT FINANCIAL IN STITUTION.—The term ‘community development fi nancial institution’ has the meaning given the term 24 in section of the Community Development 25 Banking and Financial Institutions Act of (12 26 U.S.C.

AN ACT ADOPTING A NEW FINANCIAL INSTITUTIONS ACT It is enacted by the Senate and House of Representatives of the Republic of Liberia, in Legislature Assembled: Section 1. The Financial Institutions Act ofas amended, is hereby repealed and replaced by this New Financial Institutions Act of Section 2.

“financial institution” means a company, other than a bank, which carries on, or proposes to carry on, financial business and includes any other company which the Minister may, by notice in the Gazette, declare to be a financial institution for the purposes of this Act; "financial year" means the financial year prescribed in section 20A.

Community development financial institutions, or CDFIs, are banks and credit unions that focus on serving people with limited access to traditional banking. Bangladesh Bank Order, (P.O.

of ) Bank Company Act, ; Bank Company (amendment) Act, ; The Negotiable Instruments Act, ; The Bankers’ Book Evidence Act, ; Foreign Exchange Regulations (Amendement) Act, ; Foreign Exchange Regulations Act, ; Financial Institutions Act, ; Financial Reporting Act, BANKS AND OTHER FINANCIAL INSTITUTIONS ACT (AS AMENDED) An Act to regulate banking and other financial institutions and for matters connected therewith [ No.

25] [Date of commencement: 20thJune, ] PART 1 Banks Establishment of Banks, etc. Functions, powers and duties of the Central Bank of Nigeria. THOMAS J. DELANEY, INTERSTATE BANKING AND COMMUNITY DEVELOPMENT ACTS: A SPECIAL REPORT () (citing Community Development Financial Institutions Act of Hearings on S before the Senate Comm.

on Banking, Housing and Urban Affairs, d Cong. 74 () (Testimony of Jeremy Nowak, The Coalition of CDFIs)). Act, No. 26 of and the Financial Institutions (Non-Banking) Act, No. 52 of but saved in subsection (2) thereof, all subsidiary legislation made under these Acts.

Note on section 52(2)(b) Section 52(2)(b) had not yet come into operation on the date of the revision of this Act. As of latethe CDFI Fund had certified over community development banks, community development credit unions, housing and business loan funds and venture capital firms as CDFIs.

The CDFI Fund has provided over $ million in funding to institutions that provide capital and financial services to underserved markets. The Federal Reserve Board of Governors in Washington DC. Board of Governors of the Federal Reserve System.

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Banking and Financial Services [No.7of Single copies of this Act may be obtained from the Government Printer, P.O. BoxLusaka, Price K each.

PL – Financial Institutions Supervisory Act ofLeg. Hist. of the PL PL – Riegle Community Development & Reg. Improv. Act of PL PL – Superfund Amdts & Reauthorization Act of PL Community Development Financial Institutions (CDFI) reviewing the expired authorization of the CDFI Fund, created in to promote economic revitalization and community development, the Committee will examine the record of the Fund in implementing reforms pledged in to eliminate irregularities in the grant making process.

financial institutions. The benefits and costs of banking regulation are also drawing attention because of many recent industry changes, such as elec-tronic and internet banking, improved communications and data processing systems, and the development of new and more com-plex financial instruments and risk management practices.

These. ABA has developed these materials to support the ABA training curriculum, and they can be used in a classroom environment or with online training. Section National bank notes redemption fund as reserve 1. Fund for redemption of national bank notes not to be counted as reserve.

So much of sections two and three of the Act of June twentieth, eighteen hundred and seventy-four, entitled "An Act fixing the amount of United States notes, providing for a redistribution of the national-bank currency, and for other purposes," as provides that.

Funds Support Community Development and Revitalization Activity in Distressed Rural, Urban, and Native CommunitiesWashington - The U.S.

Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded Community Development Financial Institutions (CDFIs) $ million in awards today.

Flood Insurance Reform Act. The National Flood Insurance Act of and related legislation created the National Flood Insurance Program, which makes federally backed flood insurance available to owners of improved real estate. InCongress encouraged the development of a private market for flood insurance in the Biggert-Waters Act.About the CDFI FundSince its creation inthe CDFI Fund has awarded more than $ billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program, the Native American CDFI Assistance Program, and the BEA Program.