MCIC Leaders Highlight Threats to CDFI Fund in Baltimore Business Journal Op-Ed

Our Board Chair, Comptroller Brooke Lierman, and CEO Michael Pokorny recently published an op-ed in the Baltimore Business Journal calling attention to the potential impacts of shifting federal dynamics on Maryland communities. They highlight the furlough of CDFI Fund staff and the significant risks this poses for community development and economic inclusion across the state.

“Last month, the Trump administration issued termination notices to the entire staff of the Community Development Financial Institutions (CDFI) Fund, one of the most successful federal programs for economic inclusion in American history. The terminations were held, with the end of the 43-day government shutdown. The administration believes that the Fund’s ‘programs, projects, and activities do not align with the President’s priorities,’ and terminations could resume when the continuing resolution expires in January.

Terminating the CDFI staff is shortsighted and destructive. The CDFI Fund has been a cornerstone of community revitalization since its creation in 1994, helping underserved communities access capital, build wealth, and create opportunity. It supports a nationwide network of mission-driven lenders—CDFIs—that specialize in financing affordable housing, small businesses, health clinics, and community facilities in places where traditional banks won’t go.”

You can read the full op-ed here.

MCIC remains committed to supporting CDFIs and the communities they serve, ensuring that all Marylanders have access to the financial tools and resources they need to thrive.