WASHINGTON—Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is seeking comments concerning revisions of the Interim Rule for the Community Development Financial Institutions Program (CDFI Program).
The revised Interim Rule was published in the Federal Register on Monday.
“Through the CDFI Program, the CDFI Fund uses Federal resources to invest in Community Development Financial Institutions and to build their capacity to serve low-income people and communities that lack access to affordable financial products and services,” Treasury said. “The revised Interim Rule includes revisions necessary to implement the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Requirements), as well as technical corrections, and other updates to the current rule.”
The Uniform Requirements combine grant-related Office of Management and Budget guidance circulars — reducing the administrative burden for award recipients and reducing the risk of waste, fraud, and abuse of Federal financial assistance — and establish financial, administrative, procurement, and program management standards for Federal award-making agencies, including the CDFI Fund and its award recipients, according to Treasury.
All comments must be received by October 30, 2015, Treasury stated. As the comments are regarding a Federal Rule, they must be submitted via the Federal e-Rulemaking Portal at http://www.regulations.gov. Comments submitted directly to the CDFI Fund will not be considered, Treasury said.