CDFI Fund Transparency Act

Bill: 118-s-2674
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2023-07-27
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-07-27
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2023-07-27
action_desc: Introduced in Senate
text: <p><b>CDFI Fund Transparency Act </b></p> <p>This bill requires annual congressional testimony from the Department of the Treasury regarding the operations of the Community Development Financial Institutions Fund. </p>

tv_txt: II 118th CONGRESS 1st Session S. 2674 IN THE SENATE OF THE UNITED STATES July 27, 2023 Mr. Daines (for himself, Mr. Warner , Mr. Crapo , and Mr. Warnock ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To 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.

1. Short title This Act may be cited as the CDFI Fund Transparency Act . 2. Requirement to testify Section 104(b) of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4703(b) ) is amended by adding to the end the following: (5) Annual testimony The Secretary of the Treasury (or a designee of the Secretary) shall, at the discretion of the chairman of the Committee on Banking, Housing, and Urban Affairs of the Senate and chairman of the Committee on Financial Services of the House of Representatives, annually testify before such committees (or a subcommittee of such committees) regarding the operations of the Fund during the previous fiscal year. .