Minority-owned banks are crying foul after being shut out of this year's round of the New Markets Tax Credit (NMTC) program. The NMTC program provides a tax credit to investors who invest in low income communities by funneling their investments through NMTC allocatees. None of the 76 NMTC allocations made this year were awarded to a minority bank. A 2009 study by the Government Accountability Office found that only about 9 percent of minority entities were successful when applying for NMTC allocations, compared to 27 percent of non-minority applicants. "We need our CDFI Fund to do more; we need a real change that will allow us to receive allocations so we can use these resources to improve our communities," said Preston Pinkett, CEO of City National Bank and chairman of the National Bankers Association.