United States Congress
Scaling Community Lenders Act of 2023
May 4, 2023
Summary
The Scaling Community Lenders Act of 2023 proposes amendments to the Community Development Banking and Financial Institutions Act to increase the maximum CDFI Fund assistance from $5 million to $20 million and expand allowable uses to include loan purchases, guarantees, and credit enhancement. The bill authorizes $100 million in appropriations and requires annual reports on the fund's impact on CDFI liquidity and competitiveness. If enacted, it would enhance the capacity of community development financial institutions to serve underserved communities.
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Source: https://www.congress.gov/bill/118th-congress/s-bill/1442
Common questions
- What does "Scaling Community Lenders Act of 2023" cover?
- The Scaling Community Lenders Act of 2023 proposes amendments to the Community Development Banking and Financial Institutions Act to increase the maximum…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on May 4, 2023.