Congressman Denver Riggleman Works To Help Businesses During COVID-19 Pandemicorks To Help Businesses During COVID-19 Pandemic

June 3, 2020
Press Release

Washington D.C.–During a House Financial Services Virtual Subcommittee hearing today, Congressman Denver Riggleman questioned witnesses on how Congress can better serve businesses during the COVID-19 pandemic.  The virtual hearing, entitled Promoting Inclusive Lending During the Pandemic: Community Development Financial Institutions and Minority Depository Institutions, featured a wide ranging discussion on how loans are being issued to businesses to facilitate recovery from the COVID-19 pandemic.  Congressman Riggleman asked witnesses questions on the best ways to help businesses find Community Development Financial Institutions Fund (CDFI Fund) and Paycheck Protection Program loans.

Congressman Riggleman asked: “CDFIs play an important role in helping economically distressed areas. Is there a way to create a one stop shop for businesses to find CDFI’s that are available to them?"

This was the Subcommittee on Consumer Protection and Financial Institutions’ first virtual hearing on the important role Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) play in minority and low-income communities hardest hit by the coronavirus (COVID-19) pandemic.

You can watch the virtual hearing here.

Witness list:

Ms. Lisa Mensah, President and Chief Executive Officer, Opportunity Finance Network
Mr. Michael T. Pugh, President, Chief Executive Officer and Board Member, Carver Federal Savings Bank
Mr. Samuel C. Scott, Chairman, Black Chicago Tomorrow, and Co-Chair, American Business Immigration Coalition
Mr. James H. Sills III, President and Chief Executive Officer, M&F Bank, on behalf of the Independent Community Bankers of America