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CDFI Fund advisory board sets Sept. 13 meeting
WASHINGTON (9/1/11)--The Community Development Advisory Board of the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund will hold its next meeting on Sept. 13 in Washington. The meeting is scheduled to take place between 9 a.m. and 5 p.m. ET, and will be open to the public. Fifty seats are available. However, the CDFI Fund in its release noted that discussions at the meeting would be “limited to Advisory Board members, Department of the Treasury staff, and certain invited guests.” The Advisory Board makes broad policy recommendations to CDFI Fund Director Donna Gambrell, but the CDFI Fund notes that “the granting or denial of any particular application for monetary or non-monetary awards” is not discussed during the meetings. The CDFI Fund helps locally based financial institutions offer small business, consumer and home loans in communities and populations that lack access to affordable credit. The number of certified CDFIs reached 960 last month, and the fund eclipsed $1 billion in total awards this year. The CDFI Fund has also scheduled a national listening session on its potential CDFI Bond Guarantee Program. The listening session is set to take place on Friday at 12:30 p.m. ET in Newark, N.J. The Credit Union National Association (CUNA) has recommended that credit unions that are designated Community Development Financial Institutions (CDFIs) be eligible for this program, which would provide guarantees on notes that could be used as secondary capital. For more on the CDFI Fund, use the resource link.
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