Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Govt. funding resolution cuts CDFI funds
WASHINGTON (3/18/11)—The latest in a series of continuing resolutions to fund the federal government was signed into law on Thursday, and this resolution would again cut funding to the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund to the tune of $3 million. The resolution, which will fund the government until April 8, was passed by the Senate earlier in the day and passed the House on Tuesday. 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. According to the Treasury Department in January, credit unions represent 13% of the total applicant pool for the 2011 round of the CDFI Fund program. The administration sought $250 million in CDFI funding for FY 2011.


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
7 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
9 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
9 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
9 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
10 hours ago