MINORITY BANKS SHUT OUT OF NEW MARKETS TAX CREDITS AWARDS

July 10, 2015   // 0 Comments

FOR IMMEDIATE RELEASE July 10, 2015 (WASHINGTON, D.C.) - On June 15, 2015, the Community Development Financial Institutions Fund (CDFI Fund), an arm of the Treasury Department, issued $3.5 billion in New Markets Tax Credit (NMTC) allocation to 76 entities across the country. Sadly, no funds were awarded to the nation's minority banks, the institutions with the longest track records of depl...

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