New York. Governor Hochul Affirms Commitment to Advancing Affordability and Access to Financial Services in Underserved Communities
Governor Kathy Hochul today announced new guidance from the New York State Department of Financial Services (DFS) allowing state-chartered banks to receive Community Reinvestment Act (CRA) credit for lending to or investing in Community Development Financial Institutions (CDFIs) — even if their 2024 federal certification has lapsed. This action will help safeguard critical investments in CDFIs which…
