Community Development Finance Caucus
Senators Warner and Crapo are excited to announce the creation of the bipartisan Senate Community Development Finance Caucus (also known as the CDFC or “CDFI Caucus”). The CDFC will be the platform where policymakers can coordinate and expand on public and private-sector efforts in support of the missions of Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs).
MEMBERS
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Democrats |
Republicans |
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U.S. Senator Mark Warner (D-VA, Caucus Co-Chair) |
U.S. Senator Mike Crapo (R-ID, Caucus Co-Chair) |
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U.S. Senator Amy Klobuchar (D-MN) |
U.S. Senator Mike Braun (R-IN) |
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U.S. Senator Jon Ossoff (D-GA) |
U.S. Senator Steve Daines (R-MT) |
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U.S. Senator Jack Reed (D-RI) |
U.S. Senator Cindy Hyde-Smith (R-MS) |
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U.S. Senator Tina Smith (D-MN) |
U.S. Senator Cynthia Lummis (R-WY) |
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U.S. Senator Chris Van Hollen (D-MD) |
U.S. Senator Jerry Moran (R-KS) |
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U.S. Senator Raphael Warnock (D-GA) |
U.S. Senator Mike Rounds (R-SD) |
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U.S. Senator Gary Peters (D-MI) |
U.S. Senator Roger Wicker (R-MS) |
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U.S. Senator John Hickenlooper (D-CO) |
U.S. Senator Bill Cassidy (R-LA) |
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U.S. Senator Brian Schatz (D-HI) |
U.S. Senator John Boozman (R-AR) |
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U.S. Senator Ron Wyden (D-OR) |
U.S. Senator Tom Cotton (R-AR) |
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U.S. Senator Cory Booker (D-NJ) |
U.S. Senator John Kennedy (R-LA) |
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U.S. Senator Jon Tester (D-MT) |
U.S. Senator Lisa Murkowski (R-AK) |
WHAT ARE CDFIs?
Click here to read more about the history of CDFIs, courtesy of the Treasury Department's CDFI Fund.
WHERE ARE CDFIs?
CDFI FUND PROGRAMS
Bank Enterprise Award Program › The BEA Program awards FDIC-insured depository institutions for increasing their support of CDFIs and advancing their community development activities in many of our country’s most highly distressed communities. These activities promote economic opportunity and impact real lives nationwide.
Capital Magnet Fund › Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to CDFIs and qualified non-profit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.
CDFI Bond Guarantee Program › Through the CDFI Bond Guarantee Program, the Secretary of the Treasury makes debt available to CDFIs from the Federal Financing Bank. The loans provide long-term capital not previously available to CDFIs, and inject new and substantial investment into our nation’s most distressed communities.
CDFI Equitable Recovery Program › The CDFI ERP provides grants to CDFIs to respond to disproportionate economic impacts of the COVID-19 pandemic in low- or moderate-income communities and to borrowers with unmet capital and financial services needs.
CDFI Program › The CDFI Program uses monetary awards (Financial Assistance and Technical Assistance) and training opportunities to invest in and build the capacity of CDFIs, empowering them to grow, achieve organizational sustainability, and drive community revitalization.
CDFI Rapid Response Program › The CDFI Rapid Response Program is designed to quickly deploy COVID-19 relief capital to Certified CDFIs.
Native Initiatives › Through the use of monetary awards (Financial Assistance and Technical Assistance) and training opportunities, the CDFI Fund’s Native Initiatives program creates jobs, builds businesses, and fosters economic self-determination in Native Communities nationwide.
New Markets Tax Credit Program › The NMTC Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. This tax incentive sparks the revitalization of communities in need.
Small Dollar Loan Program › The Small Dollar Loan Program was created to help Certified CDFIs provide alternatives to high cost small dollar loans.
LATEST NEWS
July 2024
| Date | Title |
|---|---|
| 7/23/24 | Warner, Crapo, Adeyemo Celebrate Two-Year Anniversary of the Economic Opportunity Coalition with New Private Sector Partners and Commitments |
March 2024
| Date | Title |
|---|---|
| 3/21/24 | Warner, Kaine Cosponsor Legislation to Support First-Generation Homebuyers |
September 2023
| Date | Title |
|---|---|
| 9/28/23 | Warner, Colleagues Reintroduce Bill to Boost Economic Growth in Underserved & Low-Income Communities |
June 2023
| Date | Title |
|---|---|
| 6/8/23 | Warner, Crapo, Adeyemo Applaud $1 Billion in Deposit Commitments for Minority & Community Lenders |
May 2023
April 2023
| Date | Title |
|---|---|
| 4/28/23 | Warner, Kaine Join Colleagues in Introducing Legislation to Improve Community Safety and Banking Access for Legal Cannabis Businesses |
March 2023
| Date | Title |
|---|---|
| 3/2/23 | Warner & Kaine Applaud Over $10 Million in Federal Funding to Expand Investment Opportunities in Underserved Communities |
