Sponsors (4)
Requires Treasury to provide an annual briefing on the CDFI Fund, improving transparency and congressional oversight at the cost of modest additional administrative work and potential paperwork burdens that may yield limited benefit if hearings are infrequently requested.
Taxpayers and the public gain more transparency because Congress will receive an annual, accountable briefing on the CDFI Fund’s prior-year operations.
Congress and taxpayers get more up-to-date information from Treasury, improving legislative and budgetary decisions about the CDFI Fund.
Community Development Financial Institutions, nonprofits, and related stakeholders gain a predictable annual opportunity to explain program outcomes and funding needs to relevant congressional committees.
Taxpayers, CDFIs, and financial institutions could face paperwork and preparation costs with limited oversight benefit if committee chairs rarely require the testimony.
Treasury staff and federal employees will incur a modest increase in administrative burden to prepare and deliver annual testimony and reports.
Based on analysis of 2 sections of legislative text.
Requires annual testimony by the Treasury Secretary or designee to congressional banking and financial services committees about the CDFI Fund's prior-year operations.
Requires the Secretary of the Treasury (or a designee) to appear annually, at the discretion of the chairs of the Senate Banking Committee and the House Financial Services Committee (or their subcommittees), to testify about the Community Development Financial Institutions (CDFI) Fund’s operations during the prior fiscal year. Establishes this annual testimony requirement by adding a new subsection to the statute that governs the Fund's administration.
Official title: 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.
Introduced September 4, 2025 by Steve Daines · Last progress September 4, 2025