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Community Reinvestment Fund
Matthew Roth, president and CEO of Community Reinvestment Fund, USA, and Alexis Dishman, the CDFI's EVP and small-business chief lending officer, wrote that loan participations let CDFIs expand their balance sheets while "the borrower receives the full amount of capital requested without bumping against any single institution's lending limits or liquidity constraints." They pointed to Partners for the Common Good, a Washington, D.C.-based loan fund that created the CDFI sector's first loan...
CDFI Fund
The Treasury Department on Aug. 25 named Chris Miller director of the Community Development Financial Institutions Fund. Miller joined the CDFI Fund from Three Roots Capital, a certified CDFI in Knoxville, Tenn., where he oversaw financial and administrative management and its access-to-capital programs. Three Roots invests impact capital for job creation, affordable housing, community facilities, and placemaking real estate projects.
CDFinance Policy
Opportunity Finance Network
Opportunity Finance Network analyzed the Community Reinvestment Act rewrite proposed Aug. 12 by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., which would raise the large-bank threshold to $10 billion and the small-bank threshold to $1 billion. Susie Han, the group’s vice president of regulatory affairs, wrote that the change would exempt an additional 800 banks from community development tests and dilute demand for low-income housing tax credit equity.
Novogradac Journal of Tax Credits
Michael Novogradac and Peter Lawrence wrote that the 21st Century ROAD to Housing Act’s most consequential provision for low-income housing tax credit developers raises the public welfare investment cap to 20% from 15%. The cap limits how much of its capital a bank may commit to equity investments promoting the public welfare, and the authors cited a survey finding more than 42% of responding banks were approaching it.
