The Consumer Financial Protection Bureau is investigating several community lenders backed by a federal program the Trump administration is looking to slash, even as the program and its recipients enjoy significant bipartisan support for expanding economic opportunities in underserved areas.
The CFPB since last month has sent out “supervisory questionnaires” to at least four loan funds that are certified community development financial institutions, according to documents obtained by Bloomberg Law and multiple people familiar with the investigation who requested anonymity to discuss it.
The questionnaires went to loan funds that previously hadn’t been subject to CFPB supervision and were ordered ...
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