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Journal Article
At the Richmond Fed: Studying Community Development Financial Institutions
They say that money makes the world go round — the ability to borrow it can shape a person's life, livelihood, and neighborhood. But just because trillions of dollars are loaned to households and businesses every quarter doesn't mean lending is equally available to those who need it the most.Community development financial institutions, or CDFIs, emerged in the 1970s to improve credit access for underserved individuals and communities, offering a range of financial services and educational programs. But little was known about the impact of these organizations. The Richmond Fed launched the ...