How are CDFIs Managing Pandemic-Related Disruptions?
Abstract: Last month, the Federal Reserve released results from its most recent COVID-19 Community Impact Survey.1 The survey is designed to collect information on the effects of the COVID-19 pandemic on low- to moderate-income (LMI) communities and the organizations serving them. Among these organizations are community development financial institutions (CDFIs), which have a mission to provide credit and financial services to underserved individuals and communities. (See "Expanding Credit Access through Community Development Financial Institutions," Econ Focus, Fourth Quarter 2022.). This post examines CDFI responses to the survey to provide recent insight into how these organizations and their communities are faring, adding to what we learned when the Fed fielded its separate, biennial CDFI Survey in 2021.
Keywords: community development financial institutions (CDFIs); Covid pandemic; business disruptions;
File format is text/html
Description: discussion paper
Provider: Federal Reserve Bank of Richmond
Part of Series: Regional Matters
Publication Date: 2022-12-22