House members question management of CDFI program

by David Baumann, CUCollaborate

A bipartisan group of 20 House members wants to know why the CDFI Certification process takes so long and additionally why the CDFI Fund is planning an overhaul of the process.

In a letter to CDFI Fund Director Jodie Harris, the lawmakers said they are receiving complaints about the operation of the CDFI program.

“These include institutions waiting for certification decisions on their application for over 12 months, reports of CDFIs being decertified and losing access to awards without warning or a chance to “cure” the issues, and proposed changes to the certification process that could deny some institutions that serve underserved communities access to the CDFI Fund and awards,” they wrote.

Credit union trade groups recently have complained about the CDFI program, and the House members echoed many of their concerns.

 

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