The Treasury’s Community Development Financial Institutions (CDFI) Fund announced Tuesday it will delay proposed changes to its certification application to carefully review all public comments. This comes after CUNA, Leagues, credit unions, and joint trades engaged with the Fund and Congress with serious concerns.

CUNA and other organizations met with House Financial Services and Senate Banking, Housing, and Urban Affairs leadership staff Tuesday to discuss proposed changes to the Community Financial Development Institution (CDFI) Fund certification application.

CUNA and other organizations wrote to Congressional committee leadership Tuesday with requesting a meeting regarding serious concerns over the proposed new Community Development Financial Institution certification application.

CUNA has several concerns with the Treasury’s Community Development Financial Institutions (CDFI) Fund’s proposed Target Market Assessment Methodologies, particularly some that are likely violations of the Equal Credit Opportunity Act and Regulation B.

The Treasury’s Community Development Financial Institutions (CDFI) Fund’s proposed certification application contains multiple provisions that would inappropriately exclude credit unions doing good work, CUNA wrote to the CDFI Fund Monday.

Certified Community Development Financial Institution (CDFI) credit unions with pending submissions or cure period requirements are considered certified until the CDFI Fund provides official notification of change or termination of status, the Fund said in a statement.

The Finest Federal’s Keith Stone works overtime to make life easier for the NYPD.

Confusion over Community Development Financial Institution (CDFI) certification for credit unions is costing communities in need valuable resources, CUNA President/CEO Jim Nussle wrote in Credit Union Times.

The Community Development Financial Institutions Fund (CDFI) will host an informational conference call for CDFIs currently in a Certification cure period related to the submission of a 2021 or 2022 Annual Certification and Data Collection Report (ACR). The call is scheduled for 3 to 4 p.m. ET, on August 10.

The CDFI Fund will pause acceptance of new CDFI certification applications and requests for Target Market modifications for six months, starting Oct. 1. It will resume accepting new application submissions and requests on April 3, 2023.