Community Development Financial Institutions Cdfi Fund Programs And Policy Issues
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Community Development Financial Institutions Cdfi Fund
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Author : Sean Lowry
language : en
Publisher:
Release Date : 2014
Community Development Financial Institutions Cdfi Fund written by Sean Lowry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This report begins by describing the Community Development Financial Institutions Fund's history, current appropriations, and each of its programs. The next section analyzes four policy considerations of congressional interest regarding the Fund and the effective use of federal resources to promote economic development. Lastly, this report examines the Fund's programs and management to see if they represent an effective and efficient government effort to promote economic development in low-income and distressed communities.
Community Development Financial Institutions Cdfi Fund
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Author : Congressional Research Service
language : en
Publisher: CreateSpace
Release Date : 2015-02-05
Community Development Financial Institutions Cdfi Fund written by Congressional Research Service and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-05 with Political Science categories.
As communities face a variety of economic challenges, some are looking to local banks and financial institutions for solutions that address the specific development needs of low-income and distressed communities. Community development financial institutions (CDFIs) provide financial products and services, such as mortgage financing for homebuyers and not-for-profit developers; underwriting and risk capital for community facilities; technical assistance; and commercial loans and investments to small, start-up, or expanding businesses. CDFIs include regulated institutions, such as community development banks and credit unions, and nonregulated institutions, such as loan and venture capital funds. The Community Development Financial Institutions Fund (CDFI Fund), an agency within the Department of the Treasury, administers several programs that encourage the role of CDFIs and similar organizations in community development. Nearly 1,000 financial institutions located throughout all 50 states and the District of Columbia are eligible for the CDFI Fund's programs to provide financial and technical assistance to meet the needs of businesses, homebuyers, community developers, and investors in distressed communities. In addition, the fund allocates the New Markets Tax Credit to more than 5,000 eligible investment vehicles in low-income communities (LICs). This report begins by describing the CDFI Fund's history, current appropriations, and each of its programs. A description of the fund's process of certifying certain financial institutions to be eligible for the fund's program awards follows. The next section provides an overview of each program's purpose, use of award proceeds, eligibility criteria, and relevant issues for Congress. The final section analyzes four policy considerations of congressional interest regarding the fund and the effective use of federal resources to promote economic development. First, it analyzes the debate on targeting development assistance toward particular geographic areas or low-income individuals generally. Prior research indicates that geographically targeted assistance, like the fund's programs, may increase economic activity in the targeted place or area. However, this increase may be due to a shift in activity from an area not eligible for assistance. Second, it analyzes the debate over targeting economic development policies toward labor or capital. The fund's programs primarily rely on the latter, such as encouraging lending to small businesses rather than targeting labor, such as wage subsidies. Research indicates the benefits of policies that reduce capital costs in a targeted place may not be passed on to local laborers in the form of higher wages or increased employment. Third, it examines whether the fund plays a unique role in promoting economic development and if it duplicates, complements, or competes with the goals and activities of other federal, state, and local programs. Although CDFIs are eligible for other federal assistance programs and other agencies have a similar mission as the fund, the fund's programs have a particular emphasis on encouraging private investment and building the capacity of private financial entities to enhance local economic development
Community Development Financial Institutions Cdfi Fund
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Author :
language : en
Publisher:
Release Date : 2015
Community Development Financial Institutions Cdfi Fund written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Community development categories.
Community Development Financial Institution Cdff Fund
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Author : Sean Lowry
language : en
Publisher:
Release Date : 2012-11-11
Community Development Financial Institution Cdff Fund written by Sean Lowry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-11 with categories.
Community Economic Development In The United States
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Author : James L. Greer
language : en
Publisher: Springer
Release Date : 2016-10-29
Community Economic Development In The United States written by James L. Greer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-29 with Political Science categories.
This is the first scholarly analysis that examines the development and achievements of the American community development movement. Community development is now a multi-billion industry in the US. Hundreds of Community Development Financial Institutions (CDFIs), located in all regions of the country, have successfully forged locally-based strategies that provide affordable housing, foster business development, and provide much needed community facilities, including innumerable charter schools, in highly distressed communities in inner city neighborhoods, rural communities, and also in American Indian areas. In many areas of the US, CDFIs represent a viable alternative to the mainstream banking industry. This volume documents the positive impact the CDFI industry has had in distressed urban and rural areas in the US.
Democratizing Finance
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Author : Clifford N. Rosenthal
language : en
Publisher: FriesenPress
Release Date : 2018
Democratizing Finance written by Clifford N. Rosenthal and has been published by FriesenPress this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with History categories.
Decades before Occupy Wall Street challenged the American financial system, activists began organizing alternatives to provide capital to “unbankable” communities and the poor. With roots in the civil rights, anti-poverty, and other progressive movements, they brought little training in finance. They formed nonprofit loan funds, credit unions, and even a new bank—organizations that by 1992 became known as “community development financial institutions,” or CDFIs. By melding their vision with that of President Clinton, CDFIs grew from church basements and kitchen tables to number more than 1,000 institutions with billions of dollars of capital. They have helped transform community development by providing credit and financial services across the United States, from inner cities to Native American reservations. Democratizing Finance traces the roots of community development finance over two centuries, a history that runs from Benjamin Franklin, through an ill-starred bank for African American veterans of the Civil War, the birth of the credit union movement, and the War on Poverty. Drawn from hundreds of interviews with CDFI leaders, presidential archives, and congressional testimony, Democratizing Finance provides an insider view of an extraordinary public policy success. Democratizing Finance is a unique resource for practitioners, policymakers, researchers, and social investors.
Community Development Financial Institutions Cdfis
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Author : United States. Congress. House. Committee on Financial Services
language : en
Publisher:
Release Date : 2010
Community Development Financial Institutions Cdfis written by United States. Congress. House. Committee on Financial Services and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Community Development
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Author : United States. General Accounting Office
language : en
Publisher:
Release Date : 1998
Community Development written by United States. General Accounting Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Community development categories.
Financing Low Income Communities
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Author : Julia Sass Rubin
language : en
Publisher: Russell Sage Foundation
Release Date : 2007-11-15
Financing Low Income Communities written by Julia Sass Rubin and has been published by Russell Sage Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-15 with Business & Economics categories.
Access to capital and financial services is crucial for healthy communities. However, many impoverished individuals and neighborhoods are routinely ignored by mainstream financial institutions. This neglect led to the creation of community development financial institutions (CDFIs), which provide low-income communities with financial services and act as a conduit to conventional financial organizations and capital markets. Edited by Julia Sass Rubin, Financing Low-Income Communities brings together leading experts in the field to assess what we know about the challenges of bringing financial services and capital to poor communities, map out future lines of research, and propose policy reforms to make these efforts more effective. The contributors to Financing Low-Income Communities distill research on key topics related to community development finance. Daniel Schneider and Peter Tufano examine the obstacles that make saving and asset accumulation difficult for low-income households—such as the fact that tens of millions of low-income and minority adults don't have a bank account—and consider solutions, like making it easier for low-wage workers to enroll in 401(K) plans. Jeanne Hogarth, Jane Kolodinksy, and Marianne Hilgert review evidence showing that community-based financial education programs can be effective in changing families' saving and budgeting patterns. Lisa Servon proposes strategies for addressing the challenges facing the microenterprise field in the United States. Julia Sass Rubin discusses ways community loan and venture capital funds have adapted in response to the decreased availability of funding, and considers potential sources of new capital, such as state governments and public pension funds. Marva Williams explores the evolution and recent performance of community development banks and credit unions. Kathleen Engel and Patricia McCoy document the proliferation of predatory lenders, who market loans at onerous interest rates to financially vulnerable families and the devastating effects of such lending on communities—from increased crime to falling home values and lower tax revenues. Rachel Bratt reviews the policies and programs used to make rental and owned housing financially accessible. Rob Hollister proposes a framework for evaluating the contributions of community development financial institutions. Despite the many accomplishments of CDFIs over the last four decades, changing political and economic conditions make it imperative that they adapt in order to survive. Financing Low-Income Communities charts out new directions for public and private organizations which aim to end the financial exclusion of marginalized neighborhoods.
Community Development Cdfi Fund Can Improve Its Systems To Measure Monitor And Evaluate Awardees Performance
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Author :
language : en
Publisher:
Release Date : 1998
Community Development Cdfi Fund Can Improve Its Systems To Measure Monitor And Evaluate Awardees Performance written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
Access to credit and investment capital is essential for creating and retaining jobs, developing affordable housing, revitalizing neighborhoods, and promoting the growth of small businesses. In economically distressed communities, where access to credit and investment capital through conventional sources is often limited, private for-profit and nonprofit community development financial institutions (CDFI) such as nonprofit loan funds and community development credit unions, provide lending and investment services. In 1994, recognizing that such institutions were often having difficulty meeting the demand for their services, the Congress created the CDFI Fund. The Fund currently seeks to expand access to credit and other financial services in distressed communities, primarily through two programs: The CDFI program provides financing and technical assistance to CDFI, while the Bank Enterprise Award program rewards banks and thrifts for providing similar services to CDFI and economically distressed communities.