Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Treasury seeks comment on CDFI definition
WASHINGTON (2/1/08)—The Treasury Department’s Community Development Financial Institution (CDFI) Fund is asking for public comment on whether it should change its criteria for certifying organizations as CDFIs. Under current rules, CDFIs must meet seven criteria to be eligible for certification. That certification allows qualified entities to apply for funding through a variety of CDFI Fund programs, and potentially access benefits from other agencies and organizations. The CDFI comment request encourages evaluation of such things as:
* Should the primary mission criteria differ by organization type? If so, how? * Should the CDFI Fund consider the types of financial products offered by an entity as relevant to the primary mission criteria? Specifically, should the CDFI Fund review, as part of the certification process, evidence of the affordability of an entity’s Financial Products to the intended customers? * How else might the CDFI Fund ensure that CDFI certification is not given to entities that engage in what are commonly called “predatory lending practices” or include so-called “predatory lending terms” in their lending products? * Should the CDFI Fund require entities to provide products and services at a cost that is at least comparable to market rates or at some minimum level of affordability to their target markets in order to satisfy the primary mission criteria? If yes, how should market rates or minimum levels of affordability be determined?
For more detail of the CDFI request for public comment, use the resource link below.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago