Western Alliance in Ariz. invests in large CDFI


Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic-development projects in communities and Native American reservations in California, Nevada and Arizona.


Time running out on banks' push to preserve popular tax credit


The House-passed tax bill would eliminate the New Markets Tax Credit while the Senate bill would not reauthorize it when it expires in two years. Bankers and other proponents say that if it is discontinued many economic development projects in rural and low-income communities won’t be funded.


Former Banc of California chief resurfaces with new financial firm


Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.


Chicago deposits millions into city's last black-owned bank


The third-largest U.S. metropolis is entrusting $20 million to Illinois Service Federal Savings & Loan Association, the city’s treasurer, Kurt Summers, announced Monday.


CIT puts $2.5 million into CDFI in Southern California


It is the largest equity investment that Clearinghouse CFDI has received in its two-decade history.


Treasury report praises CDFI program that Trump would cut


A report quietly released by the Treasury Department says there is “clear evidence” that a program President Trump wants to cut helps recipients provide financial services to the most underserved communities.


Congress approves budget deal with extra CDFI funding


Despite an effort by the Trump administration to defund government aid for community development funding institutions, the Senate approved a budget deal that included $258 million in funding for the CDFI fund.


Congress must not cut the banking cord to impoverished communities


At a minimum, federal lawmakers should fully fund the Community Development Financial Institutions Fund and support the CDFIs that provide economic opportunity where it is needed most.


Killing CDFIs would make bad situation worse for small business


A Trump administration budget proposal to end federal funding for community development financial institutions would push small businesses to high-risk, high-cost lenders.


OCC's Curry mounts cautious defense of CDFIs


Comptroller of the Currency Thomas Curry on Wednesday expressed support for community development financial institutions, even as the Trump administration is seeking to cut all government funding for them.