Community Development Financial Institutions (CDFI)

 

 

In September 1994, President Clinton signed legislation creating the Community Development Financial Institutions Fund or CDFI. The legislation assisted financial institutions that supported underserved customers and communities.

1993 Proposal for Community Banking

By the end of the Clinton presidency, the Fund had certified over 400 CDFIs. The Fund had provided over $427 million to match investments in CDFIs and to encourage traditional financial institutions to increase their lending, investment, and services to underserved markets.

Click here to learn more about the Community Development Financial Institutions Fund in the Clinton Digital Library.