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U.S. Bancorp awardeed $65M of new markets tax credit allocation

The U.S. Department of the Treasury granted U.S. Bank, via its community development entity USBCDE, the authority to raise $65M in financing for low-income communities. The award is part of a $3.5B New Markets Tax Credit allocation authority package announced in April by the Treasury's Community Development Financial Institutions Fund. USBCDE is one of only 85 community development entities which received allocation authority out of a pool of 292 applicants.