Access to Fair Financing for Opportunity and Resilient Development Act

Increased Accountability of Officials: The Secretary of the Treasury (or a designee) must testify annually before the Senate and House committees regarding Fund operations, providing oversight for the people (Section 2).

Sustainable Capital for Community Development: The CDFI Bond Guarantee Program is intended to provide institutions with a sustainable source of long-term capital to increase economic opportunity and promote community development in underserved and distressed communities (Section 3(a)).

Enhanced Liquidity for Financial Institutions: The bill allows the Fund to provide assistance for purchasing loans, providing guarantees, or creating loan loss reserves to promote liquidity for community development financial institutions (Section 4(a)(1)).

Increased Assistance Limits: The maximum amount of assistance the Fund may provide is increased from $5,000,000 to $20,000,000 (Section 4(a)(3)(A)).

Support for Native Homeownership: The Native CDFI Relending Program aims to increase homeownership opportunities for Indian Tribes, Alaska Native Communities, and Native Hawaiian communities in rural areas (Section 5(j)(2)(A)).

Increased Mortgage Transactions for Native Communities: The program provides capital to Native community development financial institutions to increase the number of mortgage transactions they can carry out (Section 5(j)(2)(B)).

Operational and Technical Support: The Secretary may provide grants to Native CDFIs for operational support and has authorized funding for technical assistance and outreach to help eligible homebuyers (Section 5(j)(8) and Section 5(j)(9)).