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Director or Treasury Department’s CDFI Fund resigns

Pravina Raghavan has resigned as the director of the Treasury Department’s Community Development Financial Institutions Fund.

The Treasury said in a press release that Dietrich Douglas had been named the fund’s acting director. He is the fund’s legal counsel.

“With the best interest of the CDFI Fund, the community development finance sector, and the communities we serve in mind, I am looking forward to leading the very dedicated staff of the CDFI Fund during this transition,” Douglas said in the release.

Raghavan’s resignation comes three months after President Trump signed an executive order that threatened to gut the fund. The White House has also pushed an agenda that would strip the fund’s ability to allocate discretionary awards.

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