A group of three Democratic lawmakers — Reps. Gregory Meeks (D-N.Y.), Joyce Beatty (D-Ohio) and Dwight Evans (D-Pa.) — yesterday introduced H.R. 3741, a bill that would codify and enhance the Minority Bank Deposit Program, which encourages minority- and women-owned banks and credit unions serving low-income communities to become depositaries and financial agents. The program was created by the Treasury Department in 1969 to help facilitate access to reliable and stable funding sources for these institutions to better serve their local communities.
Congress budgets $342M for CDFI Fund in 2026
Lawmakers have agreed to budget $324 million for the Community Development Institutions Fund in fiscal year 2026, which would maintain the program’s funding at current levels, according to a conference report released by the Senate Appropriations Committee.









