U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and the Federal Housing Finance Agency (FHFA) announced the establishment of a Working Group to increase capital for affordable housing lending from the Federal Home Loan Banks. The group will advance the Biden-Harris Administration’s priority of expanding the supply of affordable housing and reducing housing costs for American families and is part of a broad effort by Treasury and the FHFA to ensure that the Federal Home Loan Banks (FHLBs) live up to their housing mission.The CDFI Fund-FHFA Working Group will help more Community Development Financial Institutions (CDFIs) access affordable capital from FHLBs to address affordable housing needs in distressed communities not served by traditional banks and lenders.“The Biden-Harris Administration is focused on using every tool at its disposal to increase the supply of housing and lower costs for American families,” said U.S.