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Treasury's Bank Enterprise Award Program: Impact on Investments in Distressed Communities Is Difficult to Determine, but Likely Not Significant.

Publication: General Accounting Office Reports & Testimony
Publication Date: 01-AUG-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
GAO-06-824 July 31, 2006

Established in 1994, the Department of the Treasury's Bank Enterprise Award (BEA) program provides cash awards to banks that increase their investments in community development financial institutions (CDFI) and lending in economically distressed communities. CDFIs...

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...are specialized institutions that provide financial services to areas and populations underserved by conventional lenders and investors. In 2005, Treasury provided nearly $10 million in BEA awards. The BEA program...

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