CDFI Fund Releases Public Comments Submitted for Authorizing Statute

July 9, 2010

Washington, DC– The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it has posted to its website the comments submitted in response to its Request for Public Comment regarding the CDFI Fund’s authorizing statute – the Riegle Community Development and Regulatory Improvement Act of 1994.

As part of the CDFI Fund’s 15th Anniversary, the CDFI Fund is undertaking a holistic review of its entire authorizing statute. This effort is a critical part of the CDFI Fund’s strategy to position the CDFI Fund to lead another 15 years of growth for CDFIs and the entire community development finance sector.

Potential CDFI applicants, community development trade groups and members of the general public were invited to provide written comments. These comments are assisting the CDFI Fund in determining if technical corrections, substantive changes, or new provisions should be made to the authorizing statute. Questions included in the request cover issues regarding the CDFI Fund’s flagship Financial and Technical Assistance awards, the Native American CDFI Assistance awards, the Bank Enterprise Awards, and CDFI certification, among other areas.

In addition, the CDFI Fund is releasing the transcripts from a series of national listening sessions it conducted regarding the CDFI Fund’s authorizing statute. The listening sessions were hosted regionally across the country from April 19th to 23rd in Washington, DC, Chicago, IL, Denver, CO, and Los Angeles, CA. Certified CDFIs, awardees, applicants, community development trade groups and others interested in community development finance participated in the sessions. The comments received during these listening sessions will also be taken into account with the other comments provided through the Request for Public Comments.

The Federal Register Request for Public Comment notice, published on March 8, 2010, may be viewed here.

The results of the Request for Public Comment may be viewed here.

For more information about the CDFI Fund and its programs, please visit the CDFI Fund’s website.

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