However, the CDFIs that participated in CPP and were in good standing were eligible to exchange those investments into the CDCI
program, which had an initial dividend or interest rate of 2 percent.
And in 2010, an academic critic of the TARP program alleged that political influence played a role in deciding which credit unions received CDCI
Banks that converted their TARP money into the CDCI
program avoided the 5 percent interest rate of the conventional TARP money They instead received the funds at 2 percent, though they must repay at 8 percent any funds not used to assist underserved localities by 2018.
In the Sixth District, 29 firms were funded at an amount of $402 million; nine of those firms substituted CPP or CDCI
Additionally because the CDCI
programme provides less costly and more efficient capital, Community Bank of the Bay will realise an annual decrease in interest expense,' said William Keller, president/chief operating officer after the award of funds.
The company said it had issued 4,379 shares of its series C shares to the Treasury on 17 September 2010 under its TARP CDCI
Programme, for USD4.4m.
(NASDAQ: FBMS) has announced that it has repurchased all 17,123 shares of its Cumulative, Perpetual Preferred Stock, Series CD (CDCI
) issued to the US Treasury in connection with its participation in the Troubled Asset Relief Program's Community Development Capital Initiative, the company said.
In addition, the GAO report touched upon how the CDCI
initiative might eventually be wound down.
"Treasury has an important source of information about the financial stability of CDCI
institutions in the TARP requirement that these institutions respond annually to a Treasury survey on the use of TARP funds," the Special Inspector General TARP--or SIGTARP --said in an April 30 quarterly report to Congress.
Some specialized products, such as CDCI
's cPM, track not only time but also money, correlating the amount of work you've completed to the amount of money you've received, a feature that allows you to have instant feedback on your current cash situation.
was there to boost economic development and DGE FCU took advantage, as did dozens of other credit unions, and it shouldn't be faulted for using the funds.
Because assessments of parents with disabilities were often conducted by professionals with no knowledge of disability, CDCI
sponsored a series of trainings by Dr.