The Trump administration is setting up a renewed fight over the future of a Treasury Department office supporting community financial institutions even as it has failed to disburse around $1 billion available to the program.
Congress appropriated $324 million to the Community Development Financial Institution Fund for fiscal 2026, rejecting a push from President Donald Trump to slash funding to what the administration characterized as “woke” projects.
But that money has been blocked by Office of Management and Budget Director Russell Vought, who has yet to sign off on allowing Treasury to allocate those funds.
And Friday, the administration proposed ...