Recent News

Friday, September 21, 2018

The Community Development Financial Institutions (CDFI) Fund today announced an updated application for its community development entity certification. The application is available through the CDFI Fund’s Awards Management Information System. There are no changes to the criteria and questions on the previous application form.

Friday, September 21, 2018

Rep. Jenniffer Gonzalez-Colon, R, Puerto Rico, introduced legislation to provide a federal tax credit for certain business expenses in census tracts that meet one of three definitions for an economically distressed zone and are designated as such by local or state government. H.R.

Wednesday, September 19, 2018

The Alabama Court of Civil Appeals overturned a trial court decision and ruled that the state’s new markets tax credit (NMTC) can reduce the financial institutions excise tax (FIET) only by the amount paid to the state. The ruling said the NMTC can’t reduce FIET proceeds paid to counties and municipalities in which the financial institution was located. The decision in Alabama Dept. of Revenue vs.

Wednesday, September 19, 2018

The Community Development Financial Institutions (CDFI) Fund today announced that it granted $202.2 million in awards to 302 CDFIs through the fiscal year 2018 round of the CDFI program and the Native American CDFI Assistance (NACA) program. The awards will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities.

Tuesday, September 18, 2018

The Community Development Financial Institutions (CDFI) Fund today announced the issuance of a $150 million guarantee under the CDFI Bond Guarantee Program to the Community Reinvestment Fund, USA, on behalf of Clearinghouse Community Development Financial Institution.

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