The Federal Reserve Bank of Minneapolis, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency are inviting banks and community development lenders to attend an upcoming Minnesota Bankers’ Lunch and Learn to discuss opportunities for economic and community development partnerships with community development financial institutions (CDFIs) and other nonprofit lenders. These free sessions are scheduled for three different dates and locations:
- Granite Falls, July 11
- Worthington, July 12
- Albert Lea, July 13
The luncheons will provide examples of successful partnerships between banks and community development intermediaries and experts will explore ways that banks, CDFIs, and other nonprofit lenders can work together effectively. Topics will include financing for economic development and affordable housing.
The program sponsors share supervision responsibilities for depository institutions, including compliance with the Community Reinvestment Act (CRA). Enacted by Congress in 1977, the CRA is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income (LMI) neighborhoods and borrowers, consistent with safe and sound banking operations.
Programs like the Minnesota Bankers’ Lunch and Learn provide information and networking opportunities for representatives of banks to become acquainted with potential opportunities for lending and investment with LMI communities and LMI borrowers. For more information about the program or to register for a session, please contact Kay Gregg, Community Affairs Specialist, Federal Deposit Insurance Corporation.