To amend the Community Development Banking and Financial Institutions Act of 1994 to adjust for inflation the maximum amount of assistance provided by the Community Development Financial Institutions Fund, and for other purposes.
About This Bill
Committee
Latest Action · March 12, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Scaling Community Lenders Act of 2023
This bill allows the Community Development Financial Institutions Fund to provide funds for guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization.
The bill also allows the Emergency Capital Investment Fund to provide assistance for these purposes.
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