COVID-19
The spread of COVID-19 and the many efforts to slow it are impacting communities throughout the nation. To best respond to this crisis, information is needed about the scope and scale of challenges in various communities. This report offers findings of a survey designed to collect information on the effects of COVID-19 on low- to moderate-income people and communities and the entities serving them. The survey was fielded by eight national partners and the Federal Reserve System's community development function.
CDFI helps two business owners in Philadelphia's Chinatown find a lifeline, and a partner, right in their own backyard.
When making decisions about distributing emergency pandemic-relief funds to distressed homeowners, state officials are using a new tool to identify where those funds are needed most.
A growing number of states and cities have passed laws that say low-income tenants have the right to counsel when they’re facing eviction. Most come with funds to implement the right to counsel.
From March 22 through May 14, 2021, the Federal Reserve fielded the 2021 CDFI Survey. Here's what 345 CDFIs said about their financial well-being throughout the COVID-19 pandemic, operational gaps and challenges, and effects on clients and communities they serve.
Minority small-business owners and community lenders joined us for a virtual event to discuss where they are at this stage of the pandemic, what they need going forward, and who can and should help. Watch on demand.
The Federal Reserve wants to hear about challenges facing Community Development Financial Institutions to help inform policy recommendations and programs. Take the 2021 CDFI survey March 22 – April 23, 2021.
When the COVID-19 pandemic spread here, the Philadelphia Chinatown Development Corporation used Paycheck Protection Program money to help residents and businesses. More support will be necessary.
"Customers told us, 'You saved our businesses. You saved jobs. We wouldn't have made it if you guys weren't here and didn't walk us through this.'"
Throughout 2020, the Federal Reserve surveyed nonprofits, financial institutions, government agencies, and other community organizations to understand the effects of COVID-19 on low- to moderate-income communities and the entities serving them. Here's what they found.
