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Increased Transparency for Community Development Financial Institutions Fund Operations.

This bill aims to increase oversight of the Community Development Financial Institutions (CDFI) Fund, which provides financial support to underserved communities. It mandates that the Secretary of the Treasury must testify annually before key Congressional committees regarding the Fund's operations. This change ensures greater accountability in how public money is used to support local economic development and financial access in low-income areas.
Key points
Requires the Treasury Secretary to provide annual testimony to Congress regarding the performance and expenditures of the CDFI Fund.
The goal is to enhance transparency and accountability in managing funds dedicated to economic development in disadvantaged communities.
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Expired
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Additional Information
Print number: 118_S_2674
Sponsor: Sen. Daines, Steve [R-MT]
Process start date: 2023-07-27
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CDFI Fund Transparency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2674.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Requires the Treasury Secretary to provide annual testimony to Congress regarding the performance and expenditures of the CDFI Fund.
  • The goal is to enhance transparency and accountability in managing funds dedicated to economic development in disadvantaged communities.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Daines, Steve [R-MT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Public Investments