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ICBA and other groups sent a letter to Treasury Secretary Scott Bessent and Office of Management and Budget Director Russell Vought urging them to reconsider actions to eliminate Community Development Financial Institutions Fund resources. ICBA and the other groups noted that the CDFI Fund has long stood as one of the government’s most effective, market-based strategies for fostering economic opportunity and expanding homeownership in low- and moderate-income communities. They added that, since its establishment in 1996, the CDFI Fund has provided the framework through which financial institutions expand access to capital in markets that might otherwise remain underserved. Its programs are invaluable in helping banks and other lenders meet community credit needs, create jobs, and build local wealth.