CDFI Fund: FY 2024 CDFI Program and NACA Program Financial Assistance Awards Announced
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today awarded 357 Community Development Financial Institutions (CDFIs) with $408.2 million in Financial Assistance (FA) awards to provide financial services and products for low-income and underserved individuals and communities across America. The awards were made through the fiscal year (FY) 2024 funding…
CDFI Fund: Public Comments Sought on Capital Magnet Fund Application
Comments due November 25, 2024 The U.S. Department of the Treasury, as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C….
CDFI Fund: $5 Billion in New Markets Tax Credits Announced
Awards will Spur Economic and Community Development in Low-Income Urban, Rural and Tribal Communities Nationwide The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today announced $5 billion in New Markets Tax Credits that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 104…
CDFI Fund: $40.1 Million Awarded to Banks Investing in Severely Distressed Communities
Recipients Demonstrate Increased Lending and Services Exceeding $380 Million to Nation’s Most Economically Challenged Areas The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today announced $40.1 million in awards to 171 FDIC-insured banks through the fiscal year (FY) 2024 round of the Bank Enterprise Award Program (BEA Program), for increasing…
CDFI Fund: Updated Guidance and New Deadline Released for Early Submission of CDFI Certification Application
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a revised Community Development Financial Institution (CDFI) Certification Application Frequently Asked Questions (FAQs) document, Pre-Approved Target Market Assessment Methodology guidance, and an adjusted CDFI Certification Application timeline today. The FAQs and guidance supersede those published December 07, 2023, by adding, revising,…
CDFI Fund: President Biden Announces Members of the CDFI Fund’s Advisory Board Communities
Today, President Joe Biden announced the private citizens who will serve on the Community Development Advisory Board (the Advisory Board), a 15-person federal advisory committee to the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). The function of the Advisory Board is to advise the CDFI Fund’s Director on the policies regarding the activities and…
CDFI Fund: CDFI Equitable Recovery Program Technical Assistance Workshops Available
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will be conducting a series of regional workshops to provide technical assistance to CDFI Equitable Recovery Program (CDFI ERP) Award Recipients. The in-person workshops will consist of interactive sessions structured around CDFI ERP requirements and Recipient needs. The goal of the workshops…
CDFI Fund: Public Comments Sought on CDFI ERP-Related Changes to the Transaction Level Report
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is soliciting public comment on changes to the Transaction Level Report (TLR) that will capture data on transactions related to the Community Development Financial Institutions Equitable Recovery Program (CDFI ERP). In 2023, the CDFI Fund allocated $1.73 billion in federal financial assistance…
CDFI Fund: Advisory Board Public Meeting Scheduled for September 19th in Washington, DC
The Community Development Financial Institutions Fund (CDFI Fund) is convening a meeting of the Community Development Advisory Board (the Advisory Board) from 9:30 a.m. to 4:00 p.m. Eastern Time on Thursday, September 19, 2024. The Advisory Board meeting will be held in Cash Room at the U.S. Department of the Treasury located at 1500 Pennsylvania Avenue, NW,…
CDFI Fund: Application Demand for Fiscal Year 2024 Round of BEA Program Released
Over $390 million in Increased Investments, Lending and Services in Highly Distressed Communities and to CDFIs The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2024 round of its Bank Enterprise Award Program (BEA Program). A total of 176 applications were…