Community Development Financial Institutions Fund Law and Legal Definition

The Community Development Financial Institutions Fund, or CDFI Fund, is a fund established by the Reigle Community Development and Regulatory Improvement Act of 1994 administered by the U.S. Department of the Treasury. The CDFI Fund provides financial assistance and information to community development financial institutions, or CDFI. Financial institutions, including banks, credit unions, loan funds, and community development venture capital funds, can apply to the CDFI Fund for formal certification as a CDFI. The CDFI Fund offers a variety of financial programs to provide capital to CDFIs, such as the Financial Assistance Program, Technical Assistance Program, Bank Enterprise Award Program, and the New Markets Tax Credit Program.