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Diane Publishing Books
Community Development Capital Initiative: Status of the Program and Financial Health of Remaining Participants
A. Nicole Clowers (au)
The Treasury Department (Treasury) established the Community Development Capital Initiative (CDCI) under the Troubled Asset Relief Program (TARP) in February 2010 to help banks and credit unions certified as Community Development Financial Institutions (CDFI) maintain their services to underserved communities in the aftermath of the 2007-2009 financial crisis. Treasury invested a total of $570 million in 84 eligible institutions by September 2010. TARP's authorizing legislation mandates that GAO report every 60 days on TARP activities, including CDCI. This report examines (1) the financial status of CDCI as of June 2014; (2) factors affecting participants' decisions to remain in or leave the program and Treasury's exit strategy; and (3) the financial condition of institutions remaining in the program. Tables and figure. This is a print on demand report.
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