US National Cooperative Bank’s John Holdsclaw Calls for More Support for CDFIs
US policymakers have been urged by a senior co-op figure to invest more in Community Development Financial Institutions (CDFIs) at a hearing last week. The comments, from John Holdsclaw IV, executive vice president of strategic initiatives at the National Cooperative Bank, were reported in a blog post from co-op sector body NCBA-CLUSA. The hearing was focused on how CDFIs enhance economic opportunities in underserved communities, and looked for ways the federal government can better support their work. The Senate Banking Subcommittee on Transportation, Housing and Community Development heard Mr Holdsclaw urge Congress to increase annual funding to USD$1bn for the CDFI Fund, among other priorities.