WASHINGTON—Republican members of the House are pushing back against President Donald Trump’s executive order that eliminates the Community Development Financial Institutions (CDFI) Fund.
As CUToday.info reported, President Trump on Friday signed an executive order that aims to eliminate seven federal agencies—including the CDFI Fund.
“The CDFI Fund is a lifeline for underserved populations to access capital & directly supports multiple Orange County credit unions that serve our community. This partnership represents the best of public-private sector collaboration & deserves our continued bipartisan support,” stated Rep. Young Kim (R-CA) on X.
House Financial Services Chair French Hill (R-AK) and Senate Banking Chair Tim Scott (R-SC) have also historically been strong proponents of the CDFI Fund, Politico noted.
“Chairman Hill knows the impact CDFIs can have on communities, particularly in rural areas,” Brooke Nethercott, a spokesperson for Hill, told Politico. “Our Committee looks forward to learning more from the Administration.”