July 6, 2010
Authored by: Bryan Cave Leighton Paisner
Based on reports, we understand that previously certified Community Development Financial Institutions (CDFIs) have begun to receive approval to participate in the Community Development Capital Initiative (CDCI) Exchange Program. We have also received information that bank regulators and the Treasury Department are currently reviewing CDCI applications for additional capital, submitted by certified CDFIs, and decisions on such applications are forthcoming. At this time, however, we have not received any information on the progress of the CDFI certification process nor the CDCI application process for previously non-certified CDFIs.