The Trump Administration on Tuesday proposed to rescind $174million already appropriated for the Community Development Financial Institutionsprogram—a cut that credit union trade groups said will directlyaffect efforts to provide housing and other services to low-incomepeople.
The administration sent a $15 billion rescission package toCapitol Hill Tuesday. That package included cuts to many programsthe administration opposes.
The proposed cuts include slashing the CDFI Bank EnterpriseAward Program by $23 million. That money is used to awardFDIC-insured depository institutions that support CDFIinstitutions.
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