New Certification for Community Development Financial Institutions Represents Balanced Approach

JACKSON, MS – Today, the U.S. Treasury released updates to the Community Development Financial Institution (CDFI) Fund Certification Process. Upon release of the new standards, HOPE CEO, Bill Bynum released the following statement:

“The updated CDFI Certification standards strike an important balance by prioritizing true mission lenders, while allowing for the flexibility required to meet the unique challenges that face people in under resourced communities. As the new process is implemented, Treasury officials must emphasize accountability by ensuring that CDFI resources benefit those who have historically, and disproportionately lacked access to affordable, responsible financial services.”

Read more about the new certification standards here.