Withholding CDFI Funds Harms the Nation’s Most Vulnerable Communities

In a new op-ed published by American Banker, CBA CEO Dara Duguay highlights the growing impact of federal funding delays on nonprofit lenders and financial counseling organizations serving low- and moderate-income communities. Drawing on CBA’s latest member survey, Duguay makes the case that these organizations provide critical pathways to credit, homeownership, entrepreneurship, and financial stability.

“Funding America’s financial lending and counseling nonprofits is the fiscally prudent thing to do. It will cost less than the alternative.” said Dara Duguay, CEO of Credit Builders Alliance. For more than a decade, the national nonprofit has piloted positive-only rent reporting programs across the U.S.