Bill · S. 2704· Senate(119-S-2704)
CDFI Fund Transparency Act
- Introduced
- 9/4/2025
- Last activity
- 9/4/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Steve Daines
- Cosponsors
- - 1 - 2
- Introduced
- In Committee
What this bill would do
This bill, known as the "CDFI Fund Transparency Act," seeks to change the Community Development Banking and Financial Institutions Act of 1994. The primary goal is to increase transparency and accountability regarding how the Community Development Financial Institutions Fund operates. It requires the Secretary of the Treasury or a designee to provide annual testimony to specific congressional committees. This testimony covers the operations of the Fund during the previous fiscal year. This requirement is triggered at the discretion of the chairmen of the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services.
Yes· 3 of 5
Does this make what the government does easier for the public to see?+5
The bill mandates annual congressional testimony regarding the operations of the CDFI Fund to ensure greater transparency.
Would households on low incomes be better off under this?+2
Enhanced accountability for the CDFI Fund may better protect resources intended for low-income community development.
Would people in cities be better off under this?+2
Improved oversight of the CDFI Fund could lead to more effective community development investments in urban areas.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Accountability: By requiring the Secretary of the Treasury to testify annually regarding the Fund's operations, the bill aims to increase transparency and accountability (Section 2).
-
Congressional Oversight: The bill allows the chairmen of the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services to call for testimony regarding the Fund's operations during the previous fiscal year (Section 2).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households+2Good For Rural Residents+2Good For Urban Residents+2
- Governance And Ideology
- Improves Government Transparency+5
- Social Issues And Justice
- Improves Poverty Reduction+2
- 9/4/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 3 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Mike CrapoRepublican · Idaho
Raphael WarnockDemocrat · Georgia
Mark WarnerDemocrat · Virginia