other · Treasury · Rule · Published 2010-12-03 · Effective 2010-12-03 · 75 FR 75376
Document
Document number
2010-30303
Federal Register citation
75 FR 75376
CFR reference
12 CFR 1807
Type
Rule
Action
Interim rule with request for public comment.
Category
other
Sub-agency
Treasury
Publication date
2010-12-03
Effective date
2010-12-03
Abstract
The Department of the Treasury is issuing this interim rule implementing the Capital Magnet Fund (CMF), administered by the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury. The mission of the CDFI Fund is to increase the capacity of financial institutions to provide capital, credit and financial services in underserved markets. Its long-term vision is an America in which all people have access to affordable credit, capital and financial services. The CMF was established through the Housing and Economic Recovery Act of 2008, which added section 1339 to the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.