CDFI Awaiting Word on Possible Cuts
The Treasury Department's Community Development Financial Institutions Fund is one of the government operations awaiting word on whether or how much this year's programs might have been cut in the latest budget compromise.
In the past few years, the CDFI fund has become a significant source of support for community development financial institutions, both banks and credit unions. A record number of CDCUs have been recognized as CDFIs since January of last year, according to the National Federation of Community Development Credit Unions.
A spokesman for the fund says it expects to receive word about what has happened to its federal funding for this year within 24 hours.