Opportunity Finance Network 2021 Public Policy Program
In 2021, the United States is grappling with concurrent crises: the pandemic, systemic racism, and growing economic inequity. The nation’s CDFI network must be fully engaged in meeting these challenges, particularly as they impact low-wealth rural, urban, and Native communities.
2020 brought the CDFI industry greatly increased visibility and unprecedented levels of federal investment. OFN is closely monitoring the implementation of programs enacted at the end of 2020 which directed $12 billion in new resources to CDFIs and MDIs. At the same time, we are ambitious about advancing federal programs and policies that help the CDFI industry scale to better meet the immense need facing communities where CDFIs operate.
The Biden-Harris Administration and the 117th Congress offer OFN and our network the chance to engage on a wider range of issues than in previous years. In addition to the perennial policy priorities related to access to capital and community development finance, this year the CDFI industry is called on to engage on a broader agenda that includes racial justice, infrastructure investments, climate resiliency, and more.
About the CDFI Fund
The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative. Since its creation, the CDFI Fund has awarded over $2 billion to community development organizations and financial institutions.
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.