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.
Status:
Expired
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