CDFI Fund: U.S. Treasury Awarded $1.25 Billion to Support Economic Relief in Communities Affected by COVID-19

ANNOUNCEMENT MADE BY VICE PRESIDENT HARRIS ALONGSIDE TREASURY SECRETARY JANET YELLEN, U.S. SENATOR MARK WARNER, AND U.S. REPRESENTATIVE MAXINE WATERS The U.S. Department of the Treasury today awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs). The awards were announced today by Vice President Kamala […]

CDFI Fund: FY 2021 Small Dollar Loan Program Round Opens for Applications

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Small Dollar Loan Program (SDL Program) today. SDL Program funding is intended to expand consumer access to financial institutions by providing alternatives to high cost small dollar […]

Federal Bank Regulators Issue Rule Supporting Treasury’s Investments in Minority Depository Institutions and CDFIs

Federal bank regulatory agencies today announced an interim final rule that supports the Treasury Department’s implementation of a program established by Congress to make capital investments in minority depository institutions and community development financial institutions. The Treasury Department’s Emergency Capital Investment Program (ECIP) will support the efforts of these financial institutions to […]

CDFI Fund: FY 2021 CDFI Program and NACA Program Application Round Opened

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) today. The awards from these programs will support Community Development Financial Institutions […]

FHFA and Treasury: Fannie Mae and Freddie Mac Allowed to Continue to Retain Earnings

The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) today announced amendments to the Preferred Stock Purchase Agreements (PSPAs). The amendments allow Fannie Mae and Freddie Mac​ (the Enterprises) to continue to retain earnings until they satisfy the requirements of the 2020 Enterprise capital rule.  “Today’s […]

CDFI Fund: Public Comments Requested on Capital Magnet Fund Application and Annual Performance Report

The Department of the Treasury, as part of its 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. Currently, the Community Development […]

CDFI Fund: Treasury Guarantees $100 Million in CDFI Bond Funding

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the approval of a $100 million guarantee under the fiscal year 2020 round of the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued to the Community Reinvestment Fund, USA on […]

CDFI Fund: U.S. Treasury Awards $204.1 Million to Support Economic Growth in Low-Income, Distressed and Native Communities

 The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 397 Community Development Financial Institutions (CDFIs) $204.1 million in awards today. The awards, through the fiscal year (FY) 2020 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program […]

Federal Reserve: FAQs Updated to Clarify Board and Treasury’s Expectations Regarding Lending Underwriting for the Main Street Lending Program

The Federal Reserve Board on Friday updated its frequently asked questions (FAQs) to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program. The revised FAQs emphasize that lender underwriting should look back to the borrower’s pre-pandemic condition and forward to their post-pandemic […]