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Discussion Paper
CDFIs on the Prize: Recent Federal Awards for Community Development Financial Institutions
Community Development Financial Institutions (CDFIs) are mission-driven banks, credit unions, loan funds, and venture capital funds that expand financial access to low-and-moderate income (LMI) and underserved populations.In the past two years, after recognizing CDFIs' ability to reach and serve populations that were hard hit by the pandemic, Congress appropriated a total of $12 billion to the industry through three special programs. The money was allocated to the U.S. Department of the Treasury through the Consolidated Appropriations Act, 2021. The scale of these funds set aside for CDFIs is ...