CEI’s Annual Celebration

On May 1, Coastal Enterprises (CEI) returns to Brick South, in Portland, to host an early evening program and showcase of over 60 businesses that have received advice or financing from us. These portfolio companies represent industries vital to Maine’s economy, including food and beverage, textile, renewable energy, technology, nature-based tourism, healthcare, childcare and more. We will provide a compelling presentation, refreshments, networking opportunities, and a shopping bag!

CEI comment on the Advance Notice of Proposed Rulemaking regarding the Community Reinvestment Act

Recently, the U.S. Office of the Comptroller of the Currency (OCC) issued an Advance Notice of Proposed Rulemaking (ANPR) that laid out a series of questions about and some potentially sweeping changes to the Community Reinvestment Act (CRA). The OCC is one of the three federal agencies that regulate financial institutions, including evaluating their CRA performance. CRA is a law, passed in 1977, that provides incentives to banks to provide loans and services to people and communities with low and moderate incomes. CRA has played a huge role in providing needed capital and services to low-income home buyers, small businesses, and CDFIs, which have a mission to serve these markets. CEI, along with many other CDFIs, advocates, financial institutions, and community members, responded to the ANPR with comments regarding the importance of maintaining a strong and flexible CRA, and with suggestions on some improvements, especially around how to better serve rural communities.