WASHINGTON — Federal Reserve Chairman Ben Bernanke praised the work of community development financial institutions, including community development credit unions, at a recent Washington meeting.
Bernanke told the Annual Conference of the Opportunity Finance Network on Nov. 1 that CDFIs were a major part of the effort to help lower income and unbanked Americans access the financial system.
Bernanke cited the CDFI Data Project, a major, multi-year research effort collecting and analyzing information on the financial performance, institutional characteristics, and community development outputs of the CDFI Industry.
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