The information from the credit institutions from whom the borrower may have availed a credit facility but who are not members of that particular CIC may not be included in the credit information. To mitigate this problem, all credit Institutions have been directed on January 15, 2015 to become members of all the CICs and submit current and historical data to them.
I’m going to speak to three drivers of this disparity, and three ways that the financial services community should work together to address them. Treasury Announces $ Billion in New Markets Tax Credit Awards to Revitalize Low-Income and Distressed Communities. U.S. Department of the Treasury, Community Development Financial Institutions Fund. October 26, 2022. https://www.cdfifund.gov/programstraining/programs/new-markets-tax-credit/award-announcement-step.