Bill > S2704

This bill, known as the CDFI Fund Transparency Act, amends the Community Development Banking and Financial Institutions Act to enhance oversight of the Community Development Financial Institutions (CDFI) Fund by requiring the Secretary of the Treasury or a designated representative to provide annual testimony before the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services. The testimony would be at the discretion of the committee chairs and would focus on detailing the Fund's operations during the previous fiscal year. The CDFI Fund is a federal program designed to support community development and expand economic opportunities in underserved areas by providing financial and technical assistance to community development financial institutions. By mandating this annual testimony, the bill aims to increase transparency and accountability regarding the Fund's activities, allowing Congress to more closely monitor its performance and impact.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2704/all-info