X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Peter Fisher, Undersecretary of the Treasury for Domestic Finance, emphasized for the 12th Annual Conference of the National Community Reinvestment Coalition how proud he was of the work of the Community Development Financial Institutions Fund and its director, Tony Brown. He did not address the future of the fund in light of the cuts in the Administration’s budget requests for the program. Fisher, who mentioned to the activists that he was a registered Democrat in a Republican Administration, told the activist organization the CDFI Fund should be seen in terms of a life cycle for financial institutions, starting with grants, moving to loans and ending with the New Markets Tax Credits program, which the Administration saw as the most sustainable approach to financial institution development. But critics have charged that smaller financial institutions, particularly credit union, would probably not have the size or organization to benefit significantly from the NMTC program. The Administration has sharply cut its request for CDFI funding overall and organizations, including CUNA and NAFCU, have pledged to fight in the Congress for the funds to be restored.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.