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Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.
July 14
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The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.
July 9
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Federal Reserve Gov. Michael Barr — who until February served as the agency's top regulator — said community development functions have benefits for the Fed's monetary policy, supervision and research goals.
June 26
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President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.
May 2
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House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.
April 22
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The Trump administration's plan to reduce the performance of the Community Development Financial Institutions Fund would sacrifice the United States' most cost-efficient investment in itself.
March 28
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The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.
March 28
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The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.
March 20
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President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.
March 18 -
Retired banker Brad Schwartz is set to join First National as finance chief; Bar Harbor Bankshares agrees to acquire Guaranty Bancorp; CDFI Friendly America reveals new data on lending; and more in this week's banking news roundup.
March 14
