In 2019, OFN will actively engage its members and other CDFI supporters in advocating for the following public policy priorities:
- A strong and effective CDFI Fund. In FY 2020, OFN is recommending an appropriation of $300 million and a continuation of the CDFI Bond Guarantee program with $500 million in guarantee authority.
- The preservation and modernization of the Community Reinvestment Act (CRA).
- Federal programs including those at the U.S. Department of Agriculture, Housing and Urban Development, and Small Business Administration that strengthen CDFIs’ capacity to build communities.
- Housing finance policies of the Government Sponsored Enterprises (Federal Home Loan Banks, Fannie Mae, and Freddie Mac) and their regulator, the Federal Housing Finance Agency, that address the needs of low and moderate-income households.
- Tax policies impacting low-wealth communities, such as the Opportunity Zones tax benefit as well as more established community development tools like the New Markets Tax Credit and the Low-Income Housing Tax Credit programs.
- Other policies and programs impacting CDFIs as opportunities or threats arise.
OFN also encourages member CDFIs to reach out to us for support with state level public policy and advocacy.
About the CDFI Fund
The CDFI Fund was established as a bipartisan initiative by the Riegle Community Development and Regulatory Improvement Act of 1994. Its mission is to increase economic opportunity and promote community development investments for underserved populations and in distressed communities in the United States.
See our Advocacy Tools and Fact Sheets for more information about OFN’s policy priorities and work and use our resources to help amplify the voice and priorities of the CDFI industry.
Contact Jennifer A. Vasiloff, Chief External Affairs Officer, at 202.573.2123.