The United States Congress established the CDFI Fund as a bipartisan initiative under the Riegle Community Development and Regulatory Improvement Act of 1994 (Public Law 103-325). Recognizing the need to bolster a fledgling industry that was making significant inroads in economic development in low-income communities, the bill’s authors designed the CDFI Fund to provide financial and technical support to CDFIs with the goal of improving economic conditions in lowincome neighborhoods across the country. The mission of the CDFI Fund is to increase economic opportunity and promote community development investments for underserved populations and in distressed communities in the United States.
