Senators Urge White House to Release Community Lenders’ Funds
Senate Banking Committee members Mike Crapo, right, and Democrat Mark Warner of Virginia, center.
Photographer: Tom Williams/CQ-Roll Call/Getty Images
A bipartisan group of more than two dozen US senators is asking the Trump administration to release hundreds of millions of dollars earmarked for loans to people and businesses in poor and rural communities.
In a letter seen by Bloomberg News, lawmakers led by Senate Banking Committee members Mike Crapo, a Republican of Idaho, and Democrat Mark Warner of Virginia asked White House Budget Director Russ Vought to release $324 million in funds appropriated to the CDFI Fund, a Treasury office that makes grants to lenders operating in communities that are not served by traditional banks.