For Immediate Release:
Oct. 15, 2025
Media Contact:
Robert Mayo
hello@woodstockinstitute.org
On the Friday before a 3-day weekend (October 10), The US Department of Treasury announced its intention to abolish the Community Development Financial Institution (CDFI) Fund via reduction in force notices handed out to employees that day.
In response, Horacio Mendez, President & CEO of Woodstock Institute, said, “CDFIs were created with the deliberate purpose of providing capital to consumers, homebuyers, and small businesses who feel shut out from the traditional banking industry. Shutting down the CDFI fund poses a threat to the housing market, stifles the growth of small businesses, and hampers the ability of mission-driven credit unions and banks to provide essential lending services. The question remains: how does shutting down this longstanding bipartisan program align with the goals of making America great?”
Woodstock encourages those concerned by this development to contact their legislators. Illinois residents can find their federal representatives’ contact info here.
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Woodstock Institute is a leading policy and research nonprofit that advocates for consumer financial protection and community economic development. Our work seeks to combat structural inequities and to improve the quality of life in lower-income neighborhoods and communities of color. Among our areas of focus are predatory lending, access to banking, debt collection, and municipal fines and fees.
