The National Federation of Community Development Credit Unions has defended a Treasury program from charges that politics played a role in how it distributed money to CDCUs.
Calling itself "the primary technical advisor" to the credit unions that applied for money under the Treasury's Community Development Capital Initiative, the federation countered charges that had been raised against the program by an economist who has critically studied the Troubled Asset Relief Program. Treasury funded CDCI loans with money from TARP.
Linus Wilson, an assistant professor of finance at the University of Louisiana at Lafayette, had charged that CDCUs in districts represented by federal legislators on the House Financial Services Committee received money in higher proportion than CDCUs that were not in those districts.
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