Under Secretary of the Treasury Wally Adeyemo meets with the National Association of Bankers
February 2, 2022
WASHINGTON — US Treasury Undersecretary Wally Adeyemo met today with the National Bankers Association (NBA). Undersecretary and attendees discussed the Administration’s $8.7 billion investment in low- and moderate-income community financial institutions through the Emergency Capital Investment Program (ECIP) . ECIP will increase lending to small and minority-owned businesses, as well as low- and middle-income consumers in underserved communities, including rural areas.
Deputy Secretary Adeyemo discussed the next steps to complete the investments and highlighted the important role Minority Depository Institutions (MDIs) play in the CPIS. Participants also discussed the recently enacted Infrastructure Investment and Employment Act and the impact it will have on long-term economic growth. The assistant secretary underscored the Biden-Harris administration’s commitment to working with financial institutions that serve low-income communities and communities of color to spur investment, opportunity, and equitable growth.
NBA participants included:
Robert E. James II, Carver State Bank (Georgia), Director of Strategic Initiatives, Chairman, Carver Development CDE, NBA President
Nicole Elam, NBA President and CEO
Evelyn Smalls, United Bank of Philadelphia (Pennsylvania), President and CEO
Kwesi Nduom, GN Bank (Illinois), President and CEO
Sidney King, Commonwealth Bank (Alabama), President and CEO
Kase Lawal, Unity National Bank (Texas), President and CEO
Bob Cooper, OneUnited Bank (Massachusetts), Executive Vice President and General Counsel
Travis Kiyota, East West Bank (California), Executive Vice President and Head of Public Engagement and Policy
US Department of Treasury published this content on February 02, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on February 02, 2022 22:27:52 UTC.
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