NAFCU, Inclusiv ask NCUA for help on CDFI certification backlog

Two credit union groups are seeking National Credit Union Administration (NCUA) Chairman Todd Harper’s help in trying to convince Treasury Department officials to speed up the review process for Community Development Financial Institution (CDFI) Certification applications.

The problem is particularly acute in the applications from institutions seeking to serve “Other Targeted Populations (OTP),” Pablo DeFilippi, executive vice president of Inclusiv and Greg Mesack, senior vice president of government affairs at the National Association of Federally-Insured Credit Unions (NAFCU), stated in a joint letter to Harper late last week.

OTP-qualifying populations are identified as: African American; Hispanic American; Native American; Native Alaskan, residing in Alaska; Native Hawaiian, residing in Hawaii; and Other Pacific Islander, residing in other Pacific Islands; along with Americans qualifying under the Americans with Disabilities Act.

DeFilippi and Mesack wrote credit unions that have recently submitted data demonstrating they serve those populations have had their applications placed on indefinite hold.

 

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