The Trump administration will lay off Community Development Financial Institutions Fund staff in December as part of a series of federal workforce reductions being implemented in response to the government shutdown, American Banker reported. There has been no official confirmation of the planned layoffs.
The news site said it had viewed documents confirming the proposed layoffs, which would take place in mid-December. The documents call for the abolishment of the CFDI Fund within the Treasury Department as the fund’s activities “do not align with the president’s priorities.” The White House is planning to fire federal employees in a wide range of agencies as part of the current shutdown.
The White House in May released a budget request that would strip the CDFI Fund’s ability to allocate discretionary awards. It instead proposed $100 million to create a Rural Financial Award Program, with 60% of CFDI loans and investments going to rural communities.
