March 17, 2023

CUNA Requests Federal Ombuds for Community Development Financial Institutions

Earlier this month, the Credit Union National Association made several recommendations to the U.S. House Ways and Mean Committee. A letter from the national credit union trade association was intended to improve acccess to the Treasury's Community Development Financial Institutions Fund. Among other things, CUNA's letter suggested an Ombuds. “CUNA urges the CDFI Fund to establish an Ombuds Office to provide confidential, neutral, and independent sources of information and assistance regarding the CDFI certification and grant process,” the letter reads. “The Ombuds Office could help clarify and mediate confusion for CDFIs experiencing confusion or frustration during the application or recertification process and help improve the function and efficiency of the Fund.” 

CUNA's proposal is similar to the external Ombuds at the Federal Reserve Bank. (CUNA News.) 

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