After Rescission Scare, Federal Program Disperses Economic Development Funds to a Record Number of Distressed Communities across the Nation

CDFI Fund
Wednesday, June 27, 2018

The CDFI Fund announced $22.8 million in 2017 Bank Enterprise Award grants to mission-focused banks for their service in high poverty communities. These awards were at risk of being rescinded by the Trump Administration’s proposed $15 billion cutbacks package. The rescission failed to pass by its June 22, 2018 deadline, and the 2017 BEA Awards were subsequently unfrozen and released.