Dietrich Douglas named acting CDFI Fund director

The new acting director of the Community Development Financial Institutions (CDFI) Fund is Dietrich Douglas. The Treasury Department announced Monday that Douglas, who previously served as the CDFI Fund's legal counsel, replaced Pravina Raghavan following her resignation.

“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,” said Acting Director Douglas.

America’s Credit Unions President/CEO Jim Nussle congratulated Douglas in a letter sent Monday, reiterating how CDFIs credit unions and coopertivas are integral to the CDFI movement’s mission.

“The CDFI Fund has long garnered widespread bipartisan support, earning recognition as one of the federal government’s most effective market-based strategies. The Fund’s ability to harness both public and private resources has been instrumental in driving substantial economic development in distressed areas, and its impact is evident in the robust performance of the financial institutions it supports,” the letter reads.

Douglas has served as the CDFI Fund's Legal Counsel since January 2023, heading all legal matters related to the CDFI Fund's policies, programs, and administration. Prior to that position, he served as branch chief within the U.S. Department of Health and Human Services’ Medicare Operations Division.

Deputy Assistant Secretary for Community and Economic Development Alex Smith said Douglas’s “leadership will help ensure programs are executed efficiently, taxpayer resources are used responsibly, and communities have the tools they need to drive economic growth” as the Treasury looks to “strengthen the CDFI Fund’s impact.”

America’s Credit Unions continues to advocate in support of the CDFI Fund, including for full funding in FY26.