CDBA Letter to the Federal Reserve on Main Street Lending Facilities and Nonprofits - June 22, 2020

CDBA wrote to the Chairman of the Board of Governors of the Federal Reserve System, Jerome Powell, to submit comments and recommendations on the proposed expansion of liquidity facilities to nonprofit entities released by the Board of Governors on June 15, 2020. While CDBA commends the agency for its willingness to step in to help financial institutions meet the credit needs of nonprofits during the crisis, the facilities must position the smaller nonprofits that comprise the great majority of the sector and are part of America’s “Main Street,” for long-term recovery. As such, CDBA recommends that the Federal Reserve lower thresholds so that lenders, particularly CDFIs, may better serve the nonprofit sector.

Monday, June 22, 2020
Press Release: