Scaling Community Lenders Act of 2023 This bill allows the Community Development Financial Institutions Fund to provide funds for guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization. The bill also allows the Emergency Capital Investment Fund to provide assistance for these purposes.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Finance and Financial Sector
Community Development Financial Institutions FundCommunity life and organizationCongressional oversightGovernment information and archivesGovernment lending and loan guarantees
Scaling Community Lenders Act of 2023
USA118th CongressS-1442| Senate
| Updated: 3/12/2024
Scaling Community Lenders Act of 2023 This bill allows the Community Development Financial Institutions Fund to provide funds for guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization. The bill also allows the Emergency Capital Investment Fund to provide assistance for these purposes.
Community Development Financial Institutions FundCommunity life and organizationCongressional oversightGovernment information and archivesGovernment lending and loan guarantees