Treasury Moves to Prevent Abuse of Community Development Financial Institutions (CDFI) Fund Programs

WASHINGTON – The U.S. Department of the Treasury announced today that the CDFI Fund will issue rules concerning the treatment of CDFI Fund awards under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA). The rules are intended to ensure compliance with federal law and that taxpayer-funded federal public benefits are not diverted to subsidize illegal aliens. Treasury also announced reforms to ensure certified CDFIs comply with federal anti-discrimination laws.“Under President Trump’s leadership, we are enforcing the law and preventing the abuse and misuse of CDFI Fund grants intended solely for American citizens and lawful residents,” said Secretary of the Treasury Scott Bessent.