Community Development Banking List
06-29-2009, 03:46 PM
Original message from: info@cdfi.org
E-Newsletter
June 29, 2009
In This Issue:
* Treasury Announces Recovery Act Funding
* FY 2010 Appropriations Update
* Chairman Ben Bernanke Highlights CDFIs in Speech
Treasury Secretary Tim Geithner Announces Recovery Act Funding
Treasury Secretary Tim Geithner today announced $90 million in financial
assistance awards for 59 Community Development Financial Institutions
(CDFIs) in 26 states and Puerto Rico dedicated to helping communities hard
hit by the economic crisis. These awards will support new economic recovery
projects in some of our nation's most vulnerable communities at a time when
they are facing many financial challenges. Secretary Geithner's and CDFI
Fund Director Donna Gambrell made the announcement today at The Point, an
organization previously funded by the Nonprofit Facilities Fund, a New York
based CDFI and Recovery Act awardee that is receiving a $1.9 million award
today.
You can read the CDFI Fund's full press release here
(http://cdfifund.gov/news_events/CDFI-2009-33-CDFI-Program-Recovery-Act-Awar ('http://cdfifund.gov/news_events/CDFI-2009-33-CDFI-Program-Recovery-Act-Awar')
ds.asp). The Award recipients can be view here
(http://cdfifund.gov/docs/2009/cdfi/2009%20CDFI%20Program%20Award%20List.pdf ('http://cdfifund.gov/docs/2009/cdfi/2009%20CDFI%20Program%20Award%20List.pdf')
).
FY 2010 Appropriations Update
On June 25th the House Subcommittee on Financial Services and General
Government markup their section of FY 2010 Appropriation Bill. The
subcommittee voted to support the President's request for the CDFI Fund at
$243.6 million.
The funding breaks out as follows:
Administration: $18 Million
BEA: $22 Million
Financial Assistance: $114 Million
Native Program: $10 Million
Capital Magnet Fund: $80 Million
The bill now moves to the full House Appropriations Committee which has
scheduled a markup for July 7th. You can read Chairman Serrano comments
here
(http://appropriations.house.gov/pdf/FinServices_FY2010_Serrano_SubC_Opening ('http://appropriations.house.gov/pdf/FinServices_FY2010_Serrano_SubC_Opening')
_Statement_06.25.2009.pdf) or view the summary table here
(http://appropriations.house.gov/pdf/FinServ_FY10_SubC_Summary_Table_06.25.2 ('http://appropriations.house.gov/pdf/FinServ_FY10_SubC_Summary_Table_06.25.2')
009.pdf).
The Senate is expected to take up their version of the FY 2010
Appropriation's bill the second week of July.
Chairman Ben Bernanke Highlights CDFIs in Speech
On June 17, at the Global Financial Literacy Summit, Washington, D.C.,
Chairman Ben Bernanke delivered a speech called "Community Development
Financial Institutions: Challenges and Opportunities."
Chairman Bernanke noted: "The current crisis points to the importance of a
strong network of healthy community-based organizations and lenders. As many
communities struggle with rising unemployment, high rates of foreclosures,
and vacant homes and stores, these organizations lead efforts to stabilize
their neighborhoods. Rather than pulling back, CDFIs are introducing new
products and programs to help communities respond to the crisis."
You can read the entire speech here:
http://www.federalreserve.gov/newsevents/speech/bernanke20090617a.htm ('http://www.federalreserve.gov/newsevents/speech/bernanke20090617a.htm')
CDFI Coalition
3240 Wilson Boulevard, Suite 220
Arlington, VA 22201
703.294.6970 phone
703.294.6460 fax
<http://www.cdfi.org> ('http://www.cdfi.org>') www.cdfi.org
The CDFI Coalition is the unified national voice of community development
financial institutions. Our mission is to encourage fair access to financial
resources for America's underserved people and communities.
Sign up to join the CDFI Coalition's ACTION NETWORK at www.cdfi.org
<http://www.cdfi.org/> ('http://www.cdfi.org/>') . Receive important legislative updates, information
about funding opportunities, and news about the industry directly in your
inbox.
E-Newsletter
June 29, 2009
In This Issue:
* Treasury Announces Recovery Act Funding
* FY 2010 Appropriations Update
* Chairman Ben Bernanke Highlights CDFIs in Speech
Treasury Secretary Tim Geithner Announces Recovery Act Funding
Treasury Secretary Tim Geithner today announced $90 million in financial
assistance awards for 59 Community Development Financial Institutions
(CDFIs) in 26 states and Puerto Rico dedicated to helping communities hard
hit by the economic crisis. These awards will support new economic recovery
projects in some of our nation's most vulnerable communities at a time when
they are facing many financial challenges. Secretary Geithner's and CDFI
Fund Director Donna Gambrell made the announcement today at The Point, an
organization previously funded by the Nonprofit Facilities Fund, a New York
based CDFI and Recovery Act awardee that is receiving a $1.9 million award
today.
You can read the CDFI Fund's full press release here
(http://cdfifund.gov/news_events/CDFI-2009-33-CDFI-Program-Recovery-Act-Awar ('http://cdfifund.gov/news_events/CDFI-2009-33-CDFI-Program-Recovery-Act-Awar')
ds.asp). The Award recipients can be view here
(http://cdfifund.gov/docs/2009/cdfi/2009%20CDFI%20Program%20Award%20List.pdf ('http://cdfifund.gov/docs/2009/cdfi/2009%20CDFI%20Program%20Award%20List.pdf')
).
FY 2010 Appropriations Update
On June 25th the House Subcommittee on Financial Services and General
Government markup their section of FY 2010 Appropriation Bill. The
subcommittee voted to support the President's request for the CDFI Fund at
$243.6 million.
The funding breaks out as follows:
Administration: $18 Million
BEA: $22 Million
Financial Assistance: $114 Million
Native Program: $10 Million
Capital Magnet Fund: $80 Million
The bill now moves to the full House Appropriations Committee which has
scheduled a markup for July 7th. You can read Chairman Serrano comments
here
(http://appropriations.house.gov/pdf/FinServices_FY2010_Serrano_SubC_Opening ('http://appropriations.house.gov/pdf/FinServices_FY2010_Serrano_SubC_Opening')
_Statement_06.25.2009.pdf) or view the summary table here
(http://appropriations.house.gov/pdf/FinServ_FY10_SubC_Summary_Table_06.25.2 ('http://appropriations.house.gov/pdf/FinServ_FY10_SubC_Summary_Table_06.25.2')
009.pdf).
The Senate is expected to take up their version of the FY 2010
Appropriation's bill the second week of July.
Chairman Ben Bernanke Highlights CDFIs in Speech
On June 17, at the Global Financial Literacy Summit, Washington, D.C.,
Chairman Ben Bernanke delivered a speech called "Community Development
Financial Institutions: Challenges and Opportunities."
Chairman Bernanke noted: "The current crisis points to the importance of a
strong network of healthy community-based organizations and lenders. As many
communities struggle with rising unemployment, high rates of foreclosures,
and vacant homes and stores, these organizations lead efforts to stabilize
their neighborhoods. Rather than pulling back, CDFIs are introducing new
products and programs to help communities respond to the crisis."
You can read the entire speech here:
http://www.federalreserve.gov/newsevents/speech/bernanke20090617a.htm ('http://www.federalreserve.gov/newsevents/speech/bernanke20090617a.htm')
CDFI Coalition
3240 Wilson Boulevard, Suite 220
Arlington, VA 22201
703.294.6970 phone
703.294.6460 fax
<http://www.cdfi.org> ('http://www.cdfi.org>') www.cdfi.org
The CDFI Coalition is the unified national voice of community development
financial institutions. Our mission is to encourage fair access to financial
resources for America's underserved people and communities.
Sign up to join the CDFI Coalition's ACTION NETWORK at www.cdfi.org
<http://www.cdfi.org/> ('http://www.cdfi.org/>') . Receive important legislative updates, information
about funding opportunities, and news about the industry directly in your
inbox.