Congress·In Committee·S. 2704
CDFI Fund Transparency Act
Community Development Fund: New Rules for Annual Reporting to Congress
Legislative Progress
Senate
Key Points
- This bill requires the Treasury Department to report to Congress every year about the Community Development Financial Institutions Fund. A top official would have to testify in person to explain how the fund is operating and where the money is going.
- This fund is a federal program that helps banks and credit unions provide loans to low-income areas and people who have trouble getting traditional bank accounts. This change is meant to make sure the program is actually helping the communities that need it most.
- The bill was introduced by a bipartisan group of senators who want more transparency. This means they want to make it easier for the public and lawmakers to see if the government is spending this money wisely and effectively.
Impact Analysis
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Milestones
2 milestones2 actions
Sep 4, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Sep 4, 2025
Introduced in Senate
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
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Source Information
Document Type
Congressional Bill
Official Title
CDFI Fund Transparency Act
Bill NumberS 2704
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Data Sources
Sponsor
Cosponsors
(3)D: 2R: 1
Analysis generated by AI. Always verify with official sources.