U.S. Bank Receives $55M In New Markets Tax Credit Allocation
Portfolio Pulse from Benzinga Newsdesk
U.S. Bank has received a $55 million allocation in New Markets Tax Credit (NMTC), which is aimed at stimulating investment and economic growth in low-income urban and rural communities. This allocation is expected to help the bank further its community development goals.
September 29, 2023 | 3:34 pm
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U.S. Bank's receipt of a $55 million allocation in New Markets Tax Credit is expected to stimulate investment and economic growth in low-income communities, aligning with the bank's community development goals.
The $55 million NMTC allocation to U.S. Bank is expected to stimulate investment and economic growth in low-income communities. This aligns with the bank's community development goals and could potentially enhance its reputation and customer base in these communities. Therefore, this news is likely to have a positive impact on U.S. Bank's stock in the short term.
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