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NEW YORK — In recommendations to the NCUA’s Outreach Task Force–a group the composition of which has not been announced yet–the National Federation of Community Development Credit Unions emphasized the difference between low-income and modest means and that politicizing the low-income designation could backfire.

The Federation’s paper, Serving Low-Income Communities: Recommendations for the NCUA Outreach Task Force by Executive Director Cliff Rosenthal, outlined the tasks assigned to the task force: evaluating the effectiveness of NCUA’s programs assisting low- and moderate-income people; considering enhancement and full use of Community Development Revolving Loan Fund monitoring system; and considering reassessment of NCUA’s formula for determining low-income designations. “It is the Federation’s view that the Outreach Task Force, while potentially valuable, has been given too narrow a charge. In this paper, we attempt to go beyond the MSAP report and the agenda of the task force to address the broader policy and regulatory issues affecting credit union service to low-income people,” it read.

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