CDFIs

Spitzer Signs CDFI Law

New York Governor Eliot Spitzer in July signed into law authorization to create the nation’s first State Community Development Financial Institutions (CDFI) program. The as-yet unfunded program is designed to […]

New York Governor Eliot Spitzer in July signed into law authorization to create the nation’s first State Community Development Financial Institutions (CDFI) program. The as-yet unfunded program is designed to supplement the federal CDFI program and assist community-development credit unions and other alternative financial service providers in offering loans and other financial services to people and businesses in low- and moderate-income communities.

Related Articles

  • Two parallel rows of massive columns, as of a courthouse or other official building, seen from one end. Perspective makes them appear to almost meet in the far distance.

    Are Race-Based Lawsuits Affecting Community Lenders?

    June 12, 2024

    Shelterforce spoke with community-lending leaders and experts about the current mood across the sector. What, if anything, are organizations planning to do to avoid becoming the next target?

  • View from the street of a bank built in 1917. From the photographer: The building features a red brick exterior with terra cotta trim, decorative panels with Sullivanesque detailing, Sullivanesque trim, a decorative mosaic in the tympanum below the arch above the front entrance with the word “Thrift” in gold lettering in the middle of an expanse of blue tile and decorative white, cream, green, purple, red, and orange tile accents, decorative metal lettering on the facade above the arch displaying the words “The People’s Federal Savings & Loan Assn." ... Gargoyles above the pilasters framing the front entrance, fixed glass windows at the corners, brass double doors.

    How the New CRA Rule Will Help, and Where It Falls Short

    February 1, 2024

    The assessments that evaluate a bank’s lending practices have improved, but there are several missed opportunities for reform. For one, the new rules won't incorporate a racial analysis into lending examinations.

  • A collage of photos from stories that appeared on Shelterforce, with 2023 etched in the center.

    Shelterforce’s Top 10 Stories of 2023

    December 27, 2023

    What were the biggest Shelterforce stories of the year? We count down the top 10 of 2023.