Aileen S. Thomas

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Federal Banking Regulators Update CRA Guidance for CDFIs and Historic Tax Credits

by Neal C. Wise The OCC, Federal Reserve and FDIC recently adopted final revisions to the Interagency Questions and Answers Regarding Community Reinvestment (Q&A) based on proposals the agencies issued September 10, 2014. The revisions – which clarify nine Q&As, revise four Q&As and adopt two new Q&As – provide guidance as to how banks … Continue Reading

NMTC Updates

The Community Development Financial Institutions Fund (CDFI) issued its NMTC Qualified Equity Issuance Report. Since program inception, a total of $43.5 billion has been allocated by the CDFI Fund, $41.7 billion has been finalized and $1.7 billion remains to be finalized. The CDFI Fund recently announced that it intends to combine allocation authority for calendar … Continue Reading

New Markets Tax Credit FAQ

The U.S. Department of Treasury’s Community Development Financial Institutions Fund  has issued the October 2015 edition of the New Markets Tax Credit Compliance and Monitoring Frequently Asked Questions (FAQ).  The October 2015 edition supersedes the December 2014 edition.… Continue Reading

New Markets Tax Credit Data Released For 2003 – 2013

The U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has released public data collected on new markets tax credit (NMTC) investments for fiscal year (FY) 2003 to 2013. During the first 11 NMTC allocation rounds, the CDFI Fund has made 836 awards to community development entities allocating a total of $40 billion … Continue Reading
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