CDFI Fund Seeks Public Comment on Small Dollar Loan Program Application

The U.S. Department of the Treasury, as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act (PRA) of 1995, 44 U.S.C. 3506(c)(2)(A). Currently, the Community Development Financial Institutions Fund (CDFI Fund), Department of the Treasury, is soliciting comments concerning the Small Dollar Loan Program (SDL Program) Application (Application). The Application is an online form submitted through the CDFI Fund’s Award Management Information System (AMIS).

Authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203), the SDL Program provides grants for loan loss reserves and technical assistance to enable award recipients to establish and maintain small dollar loan programs to address the issues of expanding consumer access to mainstream financial institutions and providing alternatives to high-cost small dollar loans. The SDL Program is also intended to enable award recipients to help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.

The CDFI Fund is seeking input on the content of the Application with regard to the following: (a) whether the collection of information as proposed is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility in evaluating Applications; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance and purchase of services required to provide information. 

Additionally, the CDFI Fund specifically requests comments concerning a number of questions related to the Application and are outlined, in detail, in the Request for Public Comment.

Written comments must be received on or before December 3, 2021 to be assured of consideration. Comments should be submitted via email to Tanya McInnis, Program Manager for the Depository Institutions Initiatives, CDFI Fund at sdlp@cdfi.treas.gov. 

Related Documents

• Federal Register Notice
• For Public Comment: Small Dollar Loan Program Application