Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
.@SenatorBegich says @TheNCUA risk-based cap. plan attempts 2 solve problem that does not exist, at expense of those served by CUs. Watch NN
16 minutes ago
Target wants stay of discovery in class action suits in data security breach; plaintiffs disagree that it's needed http://t.co/GHqz2S4u5g
35 minutes ago
New HUD Sec'y Julian Castro gets warm send-off from San Antonio's @alamofcu MT Thanks for all the hard work. http://t.co/peb8x4GSRq
1 hours ago
.@CUANYtweets initiates call to action to Gov. Cuomo to sign state-chartered #creditunion FOM bill
1 hours ago
.@MountainAmerica #creditunion CEO helps TV audience understand credit scores #NewsNow http://t.co/makbsIIdzn
1 hours ago