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Meeks Applauds Biden-Harris Administration’s Awarding of Funds to Community Development Financial Institutions

June 15, 2021

Washington, D.C. - Today, Congressman Gregory W. Meeks (NY-05) issued the following statement applauding the Treasury Department's awarding of $1.25 billion to Community Development Financial Institutions (CDFIs), including over 60 New York based institutions. In a statement, Congressman Meeks said:

"I join Vice President Kamala Harris, Chairwoman Maxine Waters, and Senator Mark Warner in excitement for the initial release of funding to 863 community development financial institutions, including a number of New York entities that serve my district like the Greater Jamaica Local Development Company.

"After continued advocacy, including last Congress when I chaired the relevant subcommittee, CDFIs will receive additional relief to best serve the businesses and residents in our communities that need access to safe and affordable financial services the most. COVID-19 disproportionately affected Black and Brown Americans and we must do everything we can to ensure these communities have the resources they need to build back better," said Congressman Gregory W. Meeks.

Last Congress, as then-Chair of the Subcommittee on Consumer Protection and Financial Institutions, Congressman Meeks authored several proposals to assist CDFIs and Minority Depository Institutions and pushed for robust COVID-relief for these entities at a hearing on promoting inclusive lending during the pandemic.

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