Recent News
The Community Development Financial Institutions (CDFI) Fund will publish in Monday’s Federal Register a request for comments on how CDFIs treat CDFI Fund equity investments in them. The CDFI Fund will use the information to help inform policy decisions concerning the management and oversight of its investment portfolio.
The Community Development Financial Institutions (CDFI) Fund will publish in Friday’s Federal Register a notice opening the fiscal year 2020 round for the Capital Magnet Fund (CMF). Through the CMF, the CDFI Fund will award up to $173.8 million in grants to CDFIs and nonprofit organizations to finance affordable housing and related economic development and community service facilities.
The U.S. Small Business Administration, in consultation with the U.S. Treasury, announced today it is setting aside $10 billion exclusively for community development financial institutions (CDFIs) to lend under the second round of funding for the Paycheck Protection Program (PPP). The PPP is a forgivable loan program that provides small businesses emergency capital during the COVID-19 pandemic.
The Office of the Comptroller of the Currency (OCC) today published a final rule amending Community Reinvestment Act (CRA) regulations, six weeks after the comment period closed on the proposed rule, which received more than 7,500 comments.
House Democrats today unveiled a $3 trillion COVID-19 relief bill, their proposal for “Phase 4” of pandemic relief legislation. The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would provide nearly $1 trillion to state and local governments to avert layoffs and $200 billion in hazard pay for essential workers.
