On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized its long-anticipated rule implementing Section 1033 of the Dodd-Frank Act. The 594-page final rule arrives nearly one year after the CFPB’s proposed rule, which received over 11,000 comments from industry participants concerning its implementation. The rule requires institutions that issue credit cards and hold
FDIC-insured depository institutions seeking CRA credit opportunities may be eligible to apply for funding to further impact the distressed communities they serve. On March 31, 2023, the Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened its fiscal year 2023 funding applications for its Bank Enterprise Award (BEA) Program. This year’s program includes