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ImpactAlpha
National Community Investment Fund unveiled NCIF.ai, a subscription platform that pairs its three decades of bank-level lending data with census-tract data so CDFIs and impact investors can screen opportunities and track impact. The fund has invested alongside more than 50 mission-driven financial institutions, including Carver Federal Savings Bank, a New York CDFI and CDBA member. “If we don’t use technology to grow and scale, we’ll be left behind,” said Saurabh Narain, NCIF’s president and...
CDFI Fund
The Treasury Department on Aug. 25 named Chris Miller director of the Community Development Financial Institutions Fund. Miller joined the CDFI Fund from Three Roots Capital, a certified CDFI in Knoxville, Tenn., where he oversaw financial and administrative management and its access-to-capital programs. Three Roots invests impact capital for job creation, affordable housing, community facilities, and placemaking real estate projects.
CDFinance Policy
Opportunity Finance Network
Opportunity Finance Network analyzed the Community Reinvestment Act rewrite proposed Aug. 12 by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., which would raise the large-bank threshold to $10 billion and the small-bank threshold to $1 billion. Susie Han, the group’s vice president of regulatory affairs, wrote that the change would exempt an additional 800 banks from community development tests and dilute demand for low-income housing tax credit equity.
Novogradac Journal of Tax Credits
Michael Novogradac and Peter Lawrence wrote that the 21st Century ROAD to Housing Act’s most consequential provision for low-income housing tax credit developers raises the public welfare investment cap to 20% from 15%. The cap limits how much of its capital a bank may commit to equity investments promoting the public welfare, and the authors cited a survey finding more than 42% of responding banks were approaching it.
