Steven Mnuchin, U.S. Treasury secretary Steven Mnuchin, U.S. Treasury secretary, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, April 9, 2019. Photographer: Andrew Harrer/Bloomberg

The Treasury Department did not conduct any research into the Community Development Financial Institution program before deciding that the CDFI market had matured and that the program did not need additional federal support, Treasury Secretary Steven Mnuchin said last week.

“I do believe that the CDFI [program] does make significant contributions to certain communities,” Mnuchin said.

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