Sponsors (2)
The bill increases yearly transparency and oversight of the CDFI Fund that can improve effectiveness for community lenders and low-income communities, but it adds administrative burdens and creates a risk of politicized, uneven oversight.
Nonprofits and low-income individuals will likely see more effective CDFI Fund programs because annual public updates and regular oversight make it easier to identify and fix implementation problems and inefficiencies.
Federal employees, Congress, and the public will gain increased transparency because the Treasury (or its designee) must provide yearly public updates on the CDFI Fund's activities.
CDFI Fund grantees, nonprofits, and the public could face politicized or uneven scrutiny because committee Chairs control the timing and forum of oversight, risking selective or inconsistent oversight across years.
Treasury leadership and staff will face additional time and administrative burden because annual testimony requirements can divert staff resources away from program implementation and service delivery.
Based on analysis of 4 sections of legislative text.
Requires the Treasury Secretary (or designee) to testify annually to relevant House and Senate committee chairs about the CDFI Fund’s prior-year operations.
Requires the Treasury Secretary (or a designee) to appear once each year before the House Financial Services Committee chair and the Senate Banking, Housing, and Urban Affairs Committee chair (or their subcommittees) to testify about the Community Development Financial Institutions (CDFI) Fund’s operations during the prior year. The timing of those appearances is left to the discretion of the committee chairs.
Official title: To amend the Riegle Community Development and Regulatory Improvement Act of 1994 to require annual testimony to Congress on the operations of the Community Development Financial Institutions Fund.
Introduced March 3, 2026 by John Rose · Last progress March 3, 2026