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In Case You Missed It | December 2, 2021 |
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Mission-Driven Bank Fund Request for Proposal Now Open |
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Microsoft Corp. and Truist Financial Corporation, as anchor investors in the Mission-Driven Bank Fund, on Thursday announced the issuance of a request for proposal (RFP) to identify qualified candidates to manage the fund on behalf of investors. The RFP submission period will be open Dec. 2, 2021 through Feb. 4, 2022.
The Mission-Driven Bank Fund is a capital investment vehicle designed by the Federal Deposit Insurance Corporation (FDIC) to channel private capital and other resources to FDIC-insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs), which collectively are mission-driven banks. These institutions play a crucial role in serving the needs of minority and rural neighborhoods through affordable financial products that support small-business development, community development, affordable housing, and other initiatives that foster growth and create opportunity and prosperity.
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