CDFI Fund Seeks Comment on Application Process

The Community Development Financial Institutions Fund is seeking comments on its process for certifying an organization as a Community Development Financial Institution as it works to assess whether changes are needed, given the changing nature of the industry and the rapid increase of certified CDFIs. The current application process involves seven tests for which applicants must supply legal documentation, narratives and financial data, as well as an annual recertification requirement. Comments are due 60 days after the notice is published in the Federal Register. Read the request for comment.

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Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and a senior editor at the American Bankers Association, where she oversees ABA Daily Newsbytes.