On December 14, in a press release, the U.S. Department of Treasury announced it will distribute $8.7 billion to more than 180 firms designated as community development financial institutions (CDFIs) or minority depository institutions. The funds – made through the Treasury Department’s Emergency Capital Investment Program – aim to increase lending to small and minority-owned businesses, as well as consumers with low incomes in underserved areas, including rural communities. This latest move is part of the Treasury’s goal to provide financial support to communities, particularly those of color, that are still struggling from the pandemic.

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