A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to establish a CDFI National Crisis Fund, and for other purposes.
CDFI Crisis Fund Act
This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by
Specified amounts in the fund are set aside for grants to Native and minority CDFIs.
The Government Accountability Office must report on the impact of the fund and provide recommendations.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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