OFN statement on the appointment of Dietrich Douglas as Acting Director of the CDFI Fund
Dietrich Douglas steps into this role at a pivotal time for community finance. Community development financial institutions (CDFIs) play a critical role in expanding access to capital and providing technical assistance to communities across the United States.
Dietrich has served as the CDFI Fund’s legal counsel since 2023, advising on legal matters related to the Fund’s policies, programs, and administration. His experience at the Fund and deep knowledge of CDFIs will help ensure capital is flowing to the communities that need it most.
“Dietrich brings a steady hand and strong institutional knowledge as Acting Director,” said Dafina Williams, OFN’s Executive Vice President, Chief Public Policy Officer and Head of Government Affairs. “At a time when demand for CDFI financing is high, we are eager to continue our partnership in strengthening the Fund’s capacity to invest in local economies efficiently and responsibly.”
As stated by Treasury Secretary Bessent, “CDFIs are a key component of President Trump’s commitment to supporting Main Street America in the pursuit of job growth, wealth creation, and prosperity.” The CDFI Fund has the tools—and the bipartisan mandate—to drive deeper investment into underserved communities. OFN looks forward to partnering with CDFI Fund Acting Director Douglas to continue to fully capitalize on the CDFI Fund’s tools and programs and move capital equitably where it’s needed most.
About Opportunity Finance Network
Opportunity Finance Network (OFN) is the nation’s leading network and intermediary focused on community development investment, managing over $1 billion in total assets and a membership of more than 470 community development financial institutions (CDFIs), which includes community development loan funds, credit unions, green banks, banks, minority depository institutions, and venture capital funds. Our network of CDFIs works to ensure communities underserved by mainstream finance have access to affordable, responsible financial products and services, with a deep focus on serving rural, urban, and Native communities across the United States. OFN is a trusted investment partner to the public, private, and philanthropic sectors – foundations, corporations, banks, government agencies, and others – and, for nearly 40 years, has helped partners invest in communities to catalyze change and create economic opportunities for all.
Since its founding in 1986, OFN members have originated $124 billion in cumulative financing, helping to create or maintain nearly 3.4 million jobs, start or expand over 1 million businesses and microenterprises, and support the development or rehabilitation of nearly 3 million housing units and over 15,000 community facility projects.
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