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Canadian banking can still learn from the U.S.
Friday, April 30th, 2010
Apr 30 2010
… there’s a small, mission-driven sector within America’s vast banking and financial system that remains in under-supply in Canada: Community Development Financial Institutions, or CDFIs for short. Broadly speaking, CDFIs are U.S. Treasury-certified, specialized financial institutions that serve low income households and economically distressed regions… The benefit of this network is that the government is able to stimulate hard-to-reach parts of the market by providing equity capital to these financial intermediaries, who in turn originate affordable loans to low-income borrowers.
Tags: economy, participation, standard of living
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