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MegadealsSubsidy Tracker Individual Entry
Company: Citizens Bank
Parent Company:
Citizens Financial Group
Subsidy Source: federal
Project Description: PURPOSE: THE BANK ENTERPRISE AWARD PROGRAM (BEA PROGRAM) PROVIDES MONETARY AWARDS TO FDIC-INSURED DEPOSITORY INSTITUTIONS, I.E., BANKS AND THRIFTS, THAT DEMONSTRATE INCREASES IN THEIR (I) INVESTMENTS AND SUPPORT TO CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS), OR (II) LENDING, INVESTING, OR SERVICE-RELATED ACTIVITIES IN THE MOST ECONOMICALLY DISTRESSED COMMUNITIES. ACTIVITIES TO BE PERFORMED: THROUGH THE BEA PROGRAM, THE CDFI FUND AWARDS FORMULA-BASED GRANTS TO DEPOSITORY INSTITUTIONS THAT ARE INSURED BY THE FDIC FOR INCREASING THEIR LEVELS OF LOANS, INVESTMENTS, SERVICE ACTIVITIES, AND TECHNICAL ASSISTANCE TO RESIDENTS AND BUSINESSES IN THE MOST ECONOMICALLY DISTRESSED COMMUNITIES; AND FINANCIAL ASSISTANCE AND TECHNICAL ASSISTANCE TO CERTIFIED CDFIS THROUGH EQUITY INVESTMENTS, EQUITY-LIKE LOANS, GRANTS, STOCK PURCHASES, LOANS, DEPOSITS, AND OTHER FORMS OF ASSISTANCE; DURING A SPECIFIED PERIOD. END GOAL/EXPECTED OUTCOMES: EXPECTED OUTCOMES INCLUDE DEMONSTRATED INCREASED INVESTMENTS AND SUPPORT TO CERTIFIED CDFIS OR IN THE RECIPIENT?S LENDING, INVESTING, OR SERVICE-RELATED ACTIVITIES IN THE MOST ECONOMICALLY DISTRESSED COMMUNITIES. INTENDED BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION. SUBRECIPIENT ACTIVITIES: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM.
Year: 2022
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Subsidy Value: $170,699
Program Name: Bank Enterprise Award Program
Catalog of Federal Domestic Assistance code: 21.021
Awarding Agency: Department of Treasury
Type of Subsidy: federal grant
Source of Data:
(click here)
Notes: Year is first year of award performance period. Subsidy value is cumulative obligated total to date. Program name is per the Catalog of Federal Domestic Assistance code.
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