The U.S. Treasury Department's Community Development Financial Institutions fund is not yet commenting on an announcement from the Senate Appropriations Committee that appears to leave much of its funding for this fiscal year unscathed.
Over the last few years, the fund has provided needed support to community development banks and credit unions, and the initial budget proposals cut the fund sharply.
According to the committee's announcement, the budget compromise deal has $227 million for the fund, an increase of $177 million (or 350%) above the level initially appropriated by the House of Representatives earlier this year.
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