The Treasury Department extended its program to invest in Minority Depository Institutions and Community Development Financial Institutions, as requested by ICBA.
Treasury extends MDI, CDFI program
May 06, 2021 / By ICBA
The Treasury Department extended its program to invest in Minority Depository Institutions and Community Development Financial Institutions, as requested by ICBA.
The Treasury Department extended its program to invest in Minority Depository Institutions and Community Development Financial Institutions, as requested by ICBA.
Details: Treasury’s Emergency Capital Investment Program webpage says the program deadline has been extended 60 days from May 7 until 11:59 p.m. (Eastern time) Tuesday, July 6.
Background: The ECIP will invest $9 billion in MDIs and CDFIs to support low- and moderate-income and minority communities.
ICBA Position: ICBA last month urged Treasury to extend the deadline given the relatively recent release of guidance on the program. House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and Sen. Mark Warner (D-Va.) have also requested an extension.
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