CDFI Certification Form Gets Comment Call: Ho Hum
Published Date: 9/30/2026
Notice
Summary
The Treasury Department wants your thoughts on the form used to apply for certification as a Community Development Financial Institution (CDFI). This certification helps banks and lenders serve low-income communities better. If you’re involved with these institutions, now’s the time to comment before November 30, 2026, to help shape the process and reduce paperwork hassle.
Analyzed Economic Effects
10 provisions identified: 3 benefits, 6 costs, 1 mixed.
Possible Requirement: Audited Financial Statements
The CDFI Fund is considering whether to require submission of audited financial statements for any questions referencing the most recently completed fiscal year balance sheets and is asking commenters to estimate the burden hours to comply with that requirement.
Estimated Paperwork Burden Numbers
The CDFI Fund estimates 150 respondents submitting the Certification Application annually, with an estimated 55 hours per respondent and a total estimated annual burden of 8,250 hours.
Race-based Target Markets Removed
The CDFI Fund will no longer allow any "Other Targeted Population" (OTP) Target Market types that are based on the race and/or ethnicity of the borrower. Specifically, OTP types labeled "Other Targeted Population--African American", "--Hispanic", "--Other Pacific Islander", "--Filipino", and "--Vietnamese" will no longer be eligible Target Market types for certification.
Accountability Measured by Activity, Not Boards
The CDFI Fund will replace the existing certification requirement that an entity maintain accountability through board representation with a new approach that measures accountability through Target Market activity. The Application will no longer include a separate "Accountability" section or the separate "NATIVE COMMUNITIES ACCOUNTABILITY" subsection.
Possible Higher Eligibility Threshold
Under current policy, Applicants must have closed at least one (1) financial product in their proposed Target Market during their most recently completed fiscal year prior to application. The CDFI Fund is considering raising this threshold and asks whether it should vary by institution type or years in operation.
CDFI Fund Expects Net Burden Reduction
The CDFI Fund anticipates that the overall effect of the proposed changes to the Certification Application will be a net reduction in burden to Applicants.
One-Year Transition for Affected CDFIs
The CDFI Fund is planning a one-year transition period for currently Certified CDFIs that rely on a now-prohibited Target Market type (those OTPs based on race/ethnicity) to qualify under one or more of the remaining eligible Target Market types.
New Questions on Federal Award Compliance
In the Basic Information section, several questions have been added to assess an Applicant's and any relevant Affiliate's past administrative proceedings history and compliance in other federal award programs.
Fewer Board/Staff Demographic Questions
The Application will eliminate the subsection on "BOARD AND EXECUTIVE STAFF DEMOGRAPHIC INFORMATION" except for two questions: total size of governing leadership members and total size of Executive Staff.
Considering Annual Application Cycle
The CDFI Fund is considering moving from allowing applicants to submit CDFI Certification Applications at any time to permitting submissions only during a set annual application period, similar to its award programs.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-20040, Agency Information Collection Activities; Proposed Collection; Comment Request; Annual Certification and Data Collection Report Form and Abbreviated Transaction Level Report
The Treasury’s CDFI Fund wants to make sure certified community banks and applicants keep sharing important info through their Annual Certification and Transaction Reports. They’re asking for public feedback by November 30, 2026, to keep these forms clear and easy. This helps support banks that serve neighborhoods often ignored by big banks, with no new fees or big changes planned.
2026-20050, Notice of Information Collection and Request for Public Comment
The Treasury’s CDFI Fund wants your thoughts on their Uses of Award Report form, which helps track how grant money is spent. If you’re part of programs like BEA, CDFI, NACA, or SDL, this affects you! Comments are open until November 30, 2026, and this is all about making reporting easier without extra costs or hassle.
2026-18883, Funding Opportunity; Notice of Allocation Availability Inviting Applications for the Calendar Years 2026 Allocation Round of the New Markets Tax Credit Program
The Treasury Department is opening the 2026 round for the New Markets Tax Credit program, which helps boost investments in low-income communities. Community Development Entities (CDEs) can apply for funding and certifications starting now, with key deadlines in September, October, and November 2026. This is a big chance to get tax credits and invest millions into neighborhoods that need it most!
2026-13200, Funding Opportunities: Small Dollar Loan Program: FY 2026 Funding Round
The Small Dollar Loan Program is opening its FY 2026 funding round, offering $9 million to help community lenders provide small loans and support services. If you’re a community financial group, now’s your chance to apply for loan loss reserves or technical help grants, with awards ranging from $20,000 up to $350,000. Get ready—applications will be reviewed soon, and this funding can boost your ability to serve more people with affordable loans!
2026-13199, Funding Opportunities: Bank Enterprise Award Program (BEA) Program: FY 2026 Funding Round
The Bank Enterprise Award Program is offering $40 million in grants for FY 2026 to banks that help improve low-income communities. Banks can apply for awards ranging from $10,000 to $600,000, with about 180 awards expected. Don’t miss the key deadline on July 24, 2026, to submit your application and get your paperwork in order!
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The U.S. Treasury is offering up to $500 million in bond guarantees for 2026 to help community lenders raise money for local projects. If you’re a qualified issuer, you need to apply by early July to get in on this chance. This program supports community development by making it easier to fund important neighborhood improvements before the end of the year.
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