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The Treasury Department’s proposed annual report for certified Community Development Financial Institutions would create unnecessary additional work by requiring duplicative data, according to a credit union executive.

“The proposed process fails two crucial tests: It is both onerous for CDFIs to complete and unreliable for the CDFI Fund to compile, to interpret and to communicate,” wrote Cathleen Mahon, CEO of the National Federation of Community Development Credit Unions, in a Sept. 2 comment letter addressed to CDFI Management Analyst Brette Fishman.

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