Congress·In Committee·H.R. 7775
CDFI Fund Transparency Act
Community Development Fund: New Oversight Rules
Legislative Progress
House
Key Points
- This bill, called the CDFI Fund Transparency Act, requires the Treasury Department to report to Congress every year on how it manages the Community Development Financial Institutions Fund. This fund provides money and credit to neighborhoods that are often overlooked by traditional banks.
- Under this plan, the Secretary of the Treasury or a chosen representative would have to testify before committees in the House and Senate. These meetings would focus on how the fund operated over the previous year, giving lawmakers a chance to review its performance and spending.
- The main goal is to increase oversight of federal spending. By making these reports a yearly requirement, the bill aims to ensure that tax dollars meant for community development are being used effectively to help small businesses and residents in struggling areas.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
2 milestones2 actions
Mar 3, 2026
Referred to the House Committee on Financial Services.
Mar 3, 2026
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
CDFI Fund Transparency Act
Bill NumberHR 7775
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Financial Services.
Data Sources
Sponsor
Cosponsors
(1)R: 1
Analysis generated by AI. Always verify with official sources.