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Trump executive order strikes nerves of community development fund lenders

  • An executive order issued by President Donald Trump calls for reducing the Community Development Financial Institutions Fund, which supports small businesses and affordable housing in underserved communities.
  • Community Development Financial Institutions have seen significant growth, reaching $436 billion in assets by 2024, serving underserved communities, especially Black and Indigenous residents.
  • A bipartisan letter signed by 26 U.S. Senators defended the CDFI sector, emphasizing its importance to community development and economic growth while highlighting its critical role in providing support for small businesses and affordable housing.
  • Despite the executive order, federal allocations for the CDFI Fund remain unchanged at $324 million for FY 2025, signaling ongoing support for community development initiatives.
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Star TribuneStar Tribune
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Trump executive order strikes nerves of community development fund lenders

Trump orders cuts to Community Development Financial Institutions Fund, or CDFI, impacting dozens of nonprofits, primarily in rural Minnesota.

·Minneapolis, United States
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Non Profit News | Nonprofit Quarterly…Non Profit News | Nonprofit Quarterly…
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What’s at Stake with Threatened Federal Cuts to CDFIs? - Non Profit News

Image credit: AmnajKhetsamtip on iStock Community development financial institutions (CDFIs) have emerged as pivotal players in bridging financial gaps in underserved communities. Between 2014 and 2024, CDFIs grew sevenfold, reaching $436 billion in assets by the end of 2024. An executive order (14238)…calls for reducing the CDFI Fund…“to the minimum presence and function required by law.” This growth has enabled CDFIs to serve a growing number …

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BankBeatBankBeat

Banking leaders must stand behind the CDFI Fund

On March 14, President Trump signed an executive order directing the CDFI Fund (and six other government programs) to reduce their operations to the minimum needed to perform their statutory duties. In plain language, this means that the CDFI Fund—which in 2024 alone helped CDFIs finance more than 100,000 businesses, 45,000 affordable housing units, and nearly $25 billion in loans and investments — may lose vital support. Though the order doesn’…

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The Daily NewsThe Daily News

Funding for Healthy Living Campus not affected by CDFI cuts

BATAVIA — The money the GLOW YMCA received through the Community Development Financial Institutions (CDFI) for its $33.5 million Healthy Living Campus will not be affected by federal cuts to CDFI funding, a YMCA official said this week.

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Non Profit News | Nonprofit Quarterly… broke the news in on Thursday, April 3, 2025.
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