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To amend the Community Development Banking and Financial Institutions Act of 1994 to increase transparency and accountability regarding the operations of the Community Development Financial Institutions Fund.
Summary
This bill requires the Secretary of the Treasury to testify annually before Congress regarding the operations of the Community Development Financial Institutions Fund. The testimony would be provided to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services (or their subcommittees) at the discretion of the committee chairmen. The testimony would cover the Fund's operations during the previous fiscal year.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Daines, Steve [R-MT] (R-MT)
3 cosponsors
- Sen. Crapo, Mike [R-ID] (R-ID)
- Sen. Warner, Mark R. [D-VA] (D-VA)
- Sen. Warnock, Raphael G. [D-GA] (D-GA)
Actions (2)
- Sep 4, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Sep 4, 2025 Introduced in Senate
Similar bills (6)
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Full text
IN THE SENATE OF THE UNITED STATES
September 4, 2025
Mr. Daines (for himself, Mr. Warner, Mr. Crapo, and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Community Development Banking and Financial Institutions Act of 1994 to increase transparency and accountability regarding the operations of the Community Development Financial Institutions Fund.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “CDFI Fund Transparency Act”.
SEC. 2. REQUIREMENT TO TESTIFY.
Section 104(b) of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4703(b)) is amended by adding to the end the following:
“(5) Annual testimony.—The Secretary of the Treasury (or a designee of the Secretary) shall, at the discretion of the chairman of the Committee on Banking, Housing, and Urban Affairs of the Senate and chairman of the Committee on Financial Services of the House of Representatives, annually testify before such committees (or a subcommittee of such committees) regarding the operations of the Fund during the previous fiscal year.”. <all>
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