NAFCU Senior Regulatory Affairs Counsel Michael Emancipator is at the Treasury Department today to discuss credit union participation in the department’s Community Development Financial Institutions Fund.

The discussion will also focus on Treasury’s recent request for input from industry stakeholders on the CDFI designation process as the fund explores ways to enhance this process and reevaluates its criteria for CDFI eligibility.

Credit unions can comment via NAFCU’s Regulatory Alert. Comments are due to the CDFI Fund by March 10.

Credit unions that have the agency’s low-income designation share many of the qualifications required for CDFI certification. Last year, the NCUA and Treasury signed a memorandum of understanding to facilitate increased credit union involvement in the fund, with the aim of doubling the number of CDFI-certified credit unions.

 

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