TARP for Community Development?
Posted by Matthew Brian Hersh on June 4, 2009
Doris Koo, president and CEO of Enterprise Community Partners, brought up an interesting concept of using TARP monies returned to Treasury by various lending institutions and re-appropriating them toward community development financial institutions.
Community Development TARP, as she called it here at the 10th annual National CAPACD convention in Washington, DC, could take basically the same approach as all of the major banks. “I think community banks, CDCs and CDFIs need to access the same risk capital as the banks and be recapitalized and have their balance sheets boosted,” she said.