CDFIs

Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.

The CDFI Fund is updating definitions of eligible activity to be considered for the funds, including removing climate-focused financing and references to race and ethnicity.

Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.

President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.

House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

The community development financial institution was the nation's top non-qualified mortgage lender last year, according to one ranking.

At a Senate Banking subcommittee meeting, Republican and Democratic lawmakers both promoted the mission of community development financial institutions and warned of upcoming threats to their funding and proposals to revamp the CDFI certification process.

The three senior classes should repay investors with coupons of 6.73%, 7.13% and 7.64% on classes A1, A2 and A3, while are expected to issue floating-rate notes.