CDFIs keep focused on affordable housing while awaiting more federal funds

On April 26, Democratic congressional leaders sent a letter to Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza seeking to set aside at least $10 billion in Paycheck Protection Program (PPP) funds to be accessed by community development financial institutions. One week earlier, a coalition of civil rights groups led by the NAACP called for federal appropriations to direct $1 billion to the Treasury Department-administered CDFI Fund “to support rapid response to the economic conditions created by COVID-19.” Read more …