Janet Yellen Announces Major Housing Funding Initiative

U.S. Treasury Secretary Janet Yellen will announce new housing funding as part of the Biden administration's efforts to reduce housing costs. The Community Development Financial Institutions Fund will administer an additional $100 million over the next three years to support the financing of affordable housing.

U.S. Treasury Secretary Janet Yellen on Monday will announce housing funding as part of a Biden administration push to lower housing costs, the Treasury department said in a statement.

The new program administered by Community Development Financial Institutions Fund will provide additional $100 million over next 3 years to support the financing of affordable housing, the statement said.