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The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds".
The National Credit Union Administration (NCUA) is a government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation, which insures commercial banks and savings institutions. The NCUA is an independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions. With the backing of the full faith and credit of the U.S. government, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. Besides the Share Insurance Fund, the NCUA operates three other funds: the NCUA Operating Fund, the Central Liquidity Facility (CLF), and the Community Development Revolving Loan Fund (CDRLF). The NCUA Operating Fund, with the Share Insurance Fund, finances the agency's operations.
The Workforce Investment Act of 1998 was a United States federal law that was repealed and replaced by the 2014 Workforce Innovation and Opportunity Act.
The savings and loan crisis of the 1980s and 1990s was the failure of 32% of savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members.
The Community Reinvestment Act 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. Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.
The Administration for Children and Families (ACF) is a division of the United States Department of Health and Human Services (HHS). It is headed by the Assistant Secretary of Health and Human Services for Children and Families. It has a $49 billion budget for 60 programs that target children, youth and families. These programs include assistance with welfare, child support enforcement, adoption assistance, foster care, child care, and child abuse. The agency employs approximately 1,700 staff, including 1,200 federal employees and 500 contractors, where 60% are based in Washington, DC, with the remaining in regional offices located in Boston, New York City, Philadelphia, Atlanta, Chicago, Dallas, Kansas City, Denver, San Francisco, Missouri and Seattle.
The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision (OTS) as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board (FHLBB).
Community economic development (CED) is a field of study that actively elicits community involvement when working with government, and private sectors to build strong communities, industries, and markets. It includes collaborative and participatory involvement of community dwellers in every area of development that affects their standard of living.
An individual development account (IDA) is an asset building tool designed to enable low-income families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. In principle IDAs work as matched savings accounts that supplement the savings of low-income households with matching funds drawn from a variety of private and public sources.
Green jobs are, according to the United Nations Environment Program, "work in agricultural, manufacturing, research and development (R&D), administrative, and service activities that contribute(s) substantially to preserving or restoring environmental quality. Specifically, but not exclusively, this includes jobs that help to protect ecosystems and biodiversity; reduce energy, materials, and water consumption through high efficiency strategies; de-carbonize the economy; and minimize or altogether avoid generation of all forms of waste and pollution." The environmental sector has the dual benefit of mitigating environmental challenges as well as helping economic growth.
The diplomatic relationship between the United States of America and Zambia can be characterized as warm and cooperative. Relations are based on their shared experiences as British colonies, both before, after and during the struggle for independence. Several U.S. administrations cooperated closely with Zambia's first president, Kenneth Kaunda, in hopes of facilitating solutions to the conflicts in Rhodesia (Zimbabwe), Angola, and Namibia. The United States works closely with the Zambian Government to defeat the HIV/AIDS pandemic that is ravaging Zambia, to promote economic growth and development, and to effect political reform needed to promote responsive and responsible government. The United States is also supporting the government's efforts to root out corruption. Zambia is a beneficiary of the African Growth and Opportunity Act (AGOA). The U.S. Government provides a variety of technical assistance and other support that is managed by the Department of State, U.S. Agency for International Development, Millennium Challenge Account (MCA) Threshold Program, Centers for Disease Control and Prevention, Department of Treasury, Department of Defense, and Peace Corps. The majority of U.S. assistance is provided through the President's Emergency Plan for AIDS Relief (PEPFAR), in support of the fight against HIV/AIDS.
Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator. In the U.S., banking is regulated at both the federal and state level. Depending on the type of charter a banking organization has and on its organizational structure, it may be subject to numerous federal and state banking regulations. Apart from the bank regulatory agencies the U.S. maintains separate securities, commodities, and insurance regulatory agencies at the federal and state level, unlike Japan and the United Kingdom. Bank examiners are generally employed to supervise banks and to ensure compliance with regulations.
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George W. Bush. It was a component of the government's measures in 2009 to address the subprime mortgage crisis.
Prosperity Now, formerly known as the Corporation for Enterprise Development (CFED), is a national nonprofit based in Washington, DC, dedicated to expanding economic opportunity for low-income families and communities in the United States. CFED uses an approach grounded in community practice, public policy and private markets. CFED publishes research, partners with local practitioners to carry out demonstration projects, and engages in policy advocacy work at the local, state and national levels. The organization works domestically with satellite offices in San Francisco, California, and Durham, North Carolina.
The Center for Social Development (CSD) is a research center at Washington University's George Warren Brown School of Social Work. Its focus is on innovations in asset-building and social development practice and policy.
The Workforce Innovation and Opportunity Act (WIOA) is a United States public law that replaced the previous Workforce Investment Act of 1998 (WIA) as the primary federal workforce development legislation to bring about increased coordination among federal workforce development and related programs.
Pan American Bank & Trust is a U.S. Federal Deposit Insurance Corporation-insured, privately held bank based in Melrose Park, Illinois with $316 million in assets and $288 million in deposits. The bank is wholly owned by American Bancorp of Illinois, Inc., a bank holding company duly registered with the Federal Reserve System. It has six offices in and around Chicago, IL: Melrose Park, Bellwood, Bloomingdale, Palatine, Little Village and Sauganash in Chicago.
Assets for Independence (AFI) is a federal program that distributes discretionary grants to help the impoverished achieve one of three goals: (1) homeownership; (2) business ownership; and (3) post-secondary education. AFI was created by the Assets for Independence Act.
Housing and Community Development Act of 1992 was first introduced to the 102nd Congress on June 5, 1992, and was signed and made law by President George H. W. Bush on October 28, 1992. Also known as "The 1992 Act", the bill amended a number of housing, banking, and drug abuse laws. It amended The United States Housing Act of 1937. It increased aggregate budget authority for low-income housing for fiscal year 1993 and 1994. It also extends ceiling rents, excludes certain child care expenses, and excessive travel expenses from the calculation of adjusted income and apply to Indian public housing certain definitions of the Cranston-Gonzales National Affordable Housing Act; It allows the Secretary of Housing and Urban Development to issue public and Section 8 housing tenant preference rules. The Act also extends certain exemptions from waiting list requirements and eligibility restrictions with respect to income eligibility for assisted housing and while revising the family self-sufficiency program, with respect to escrow saving accounts, incentives for participation, and action plans.
The Office of Community Services (OCS) is a division of the US Executive Branch under the Administration for Children and Families within the Department of Health and Human Services. It is the direct successor of the Office of Economic Opportunity, an independent agency created in 1964.
References
- ↑ "FDIC Quarterly - Individual Development Accounts and Banks". Fdic.gov. Retrieved 2013-05-16.
- ↑ "Assets for Independence (AFI)". www.acf.hhs.gov. Retrieved 2023-11-03.
- ↑ "Economic Opportunity for All". Archived from the original on 2014-07-23. Retrieved 2013-05-16.
- ↑ "Assets for Independence Act". www.ilsr.org.
- ↑ "About Assets for Independence". Archived from the original on September 25, 2012. Retrieved May 16, 2013.
- ↑ Leaders Gather to Shape Asset-Building Field Ground-breaking Conference Brings Together Bankers Govt. Social Workers to Discuss Wealth Economic Opportunity [ dead link ]