Palazzo Recognized as 2019 Community Development Financial Institutions Champion
Washington, DC - Congressman Steven Palazzo (MS-4) today was recognized by the Opportunity Finance Network as a 2019 Community Development Financial Institutions (CDFI) Congressional Champion for his work on the House Appropriations Committee to protect critical funding for the CDFI Fund Program that provides financial services to low-income communities.
During the FY19 appropriations process, Palazzo was successful in restoring a $25 million cut to the CDFI Funds Program. Cuts to the program threaten job creation, economic development, and capital investment opportunities in underserved rural, urban and Native communities.
The state of Mississippi is home to 81 CDFIs and in 2019 received 33% of CDFI awards nationwide.