The U.S. Treasury Department will make money from the Troubled Asset Relief Program available to credit unions, banks and thrifts that have been recognized as Community Development Financial Institutions by the Department's CDFI Fund.
Treasury Secretary Tim Geithner and other officials will meet today with members of Congress and the heads of some credit unions and credit union organizations, along with other CDFI executives to reveal the details of the initiative. Among the leaders attending the meeting will be Clifford Rosenthal, CEO of the National Federation of Community Development Credit Unions and executives from the Latino Community Credit Union, a credit union CDFI headquartered in Durham, N.C., according to a spokesman for the CDFI Fund.