Proposed changes address benefit eligibility standards and anti-discrimination requirements for certified institutions
The U.S. Department of the Treasury announced plans to issue proposed rules concerning how certain Community Development Financial Institutions (CDFI) Fund awards are treated under federal law. The department said the rulemaking would clarify whether some benefits fall under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA), which sets eligibility standards for certain public benefits.
“We are enforcing the law and preventing the abuse and misuse of CDFI Fund grants intended solely for American citizens and lawful residents,” said Secretary of the Treasury Scott Bessent. “Treasury will continue to use its authority to prevent waste, fraud, and abuse in all forms, including by safeguarding taxpayer money awarded by the CDFI Fund.”
The department also announced new contract provisions for certified CDFIs requiring compliance with federal anti-discrimination laws. Institutions need written policies, annual certifications, and records available for review.
As the Lord Leads, Pray with Us…
- For Treasury Secretary Bessent and department staff as they administer financial programs.
- For U.S. Treasury officials as they engage lenders and nonprofits serving local communities.
Sources: Department of the Treasury
