2013 Bank Enterprise Award Program, Community Development Financial Institutions Fund
The Bank Enterprise Award program is part of the Community Development Financial Institutions Fund (CDFI Fund) of the U.S. Department of the Treasury, a program designed to support "underserved and distressed communities." Charter school development support has been included in the more than $1.4 billion the fund has awarded under CDFI Fund to community development organizations and financial institutions.
"The BEA Program complements the community development activities of insured depository institutions by providing financial incentives to expand investments in CDFIs and to increase qualified lending, investment, and service activities within economically distressed communities." For 2013, about $17.1 million in awards will be made available to Federal Deposit Insurance Corporation-insured banks and thrifts.