The Trump administration is proposing to cut nearly all discretionary funding from a Treasury Department office supporting community financial institutions.
The Community Development Financial Institutions Fund would be slashed by $291 million in fiscal 2026 under the “skinny budget” released by President Donald Trump on Friday. The cuts would be targeted at the fund’s “discretionary awards” budget that covers grants providing eligible banks, credit unions, and loan funds with operational and other balance-sheet support.
But the budget outline also proposes $100 million for a new Rural Financial Award Program that would require 60% of a CDFI’s loans to ...
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