Introduced in Senate — S. 2704

119th CONGRESS

1st Session

S. 2704

IN THE SENATE OF THE UNITED STATES

September 4, 2025

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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

Section 1. Short title

This Act may be cited as the CDFI Fund Transparency Act.

Sec. 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.