Financial Services Industry
Industry: Email Alert RSS FeedFederal Reserve Chairman Cites NFCDCU Research On CDFIs
Credit Union Journal, The, November, 2006 by Carol Anne Burger
Federal Reserve Chairman, Ben S. Bernanke lauded the work of Community Development Financial Institutions (CDFIs) during a speech before the Annual Conference of the Opportunity Finance Network, reported Rafael Morales, communications officer for the National Association of Community Development Credit Unions (NFCDCU).
Generally, Bernanke cited the mission of strengthening communities and improving the lives of low-income populations. In particular, he noted the CDFI Data Project (CDP), a multi-year research effort to collect and analyze information on the financial performance, institutional characteristics, and community development outputs of the CDFI Industry. The Federation is a founding member and primary data collector of the CDP. In his presentation, Bernanke...
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