On Wednesday, May 24th, I will be part of the celebration of Northern California Community Loan Fund’s 30th Anniversary to take stock of its impact. I will be speaking on a panel of remarkable professionals discussing what it means to come together as catalysts of change. My comments will focus on the role of Northern […]
… is reportedly $248 million for the current year, up $15 million for last year, under the bipartisan Congressional deal.
Small businesses are more successful getting credit from CDFIs, credit unions, and small banks than from large banks, according to the 2016 Small Business Credit Survey published this week by the 12 Banks of the Federal Reserve System. The report confirms a trend that goes back at least to 2010. The report found that business with […]
After President Trump’s proposed “skinny budget” calling for deep cuts in line with Heritage Foundation recommendations fell flat in Congress, the Administration is going another route. Today the White House plans to direct staff cuts across the board among domestic federal programs while increasing staffing at defense and military agencies.
I have long wondered if a major foundation could become a CDFI–or, more generally, what a foundation could achieve if it used its endowment as leverage for debt and other types of investments. Wouldn’t that be something? This morning, the Ford Foundation announced that it will use $1 billion of its endowment over 10 years […]
President Donald Trump now reportedly is urging Congress to cut domestic funds in the current fiscal year (FY2017) rather than wait for next year, according to media reports. With the deadline for the current Continuing Resolution one month away, Congressional Republicans have said that it’s too late for 2017 cuts, but anything is possible in […]
CDFIs keep showing up in unexpected places. At a March 21st hearing of the House Financial Services Committee, Representative Keith Ellison (D-MN) unveiled a March 14th letter from all of the major bank trade associations opposing President Trump’s proposed cuts to The CDFI Fund. The American Bankers Association, the Independent Community Bankers of America, the […]