Crisis with access to capital for small businesses explained by former U.S Treasury Deputy Assistant Secretary, Antonio White--Backbone" Podcast

Community Development Financial Institutions provide capital and technical assistance to rural and underserved small businesses, farmers, and affordable housing projects using federal and large private financial institution funds. There are over 1,400 of these mission-driven community lenders in the U.S. Now, the Trump Administration is planning on terminating federal staff at the CDFI program. Antonio White, former U.S. Treasury Deputy Assistant Secretary, says that the current Administration is intent of “wiping America of any remnant of a perceived diversity, equity and inclusion programs.” CDFIs, that have great bipartisan support, have been caught up in this effort and the Administration is wrongfully targeting them as corporate welfare and DEI says White.White insists that Congressional leaders need to step up to defend CDFIs and the great work they do in community development and providing local banking in communities where traditional financial institutions have abandoned.