GAO Report on Wind Down of CDCI
U.S. Government Accountability Office
Friday, November 4, 2016
The U.S. Government Accountability Office recently published a report on the status of the Community Development Capital Initiative (CDCI) and documents related to the Early Repurchase Option. They reported that as of September 30th 2016, 55 of the original 84 financial institutions remain in the program including 24 banks and 35 credit unions. The 10 largest remaining institutions are all banks and account for $286 million (68%) of the outstanding investment while the remaining $134 million (32%) was spread among the rest of the financial institutions.