Congress·In Committee·S. 3940

Community Lending and Native Homeownership Expansion

Access to Fair Financing for Opportunity and Resilient Development Act

19 days ago·View on Congress.gov

Legislative Progress

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Key Points

This bill helps local lenders, called Community Development Financial Institutions, get more money to provide loans in neighborhoods that big banks often skip. It allows the government to buy loans from these local lenders or provide guarantees, which gives them more cash to lend out to families and small businesses.
A new program would set aside up to $50 million every year specifically for Native American, Alaska Native, and Native Hawaiian communities. This money would go to specialized local lenders to help more people in these communities buy homes, particularly in rural areas or on tribal lands.
The bill makes it easier for smaller community lenders to use federal programs by lowering the minimum amount they need to borrow for certain projects. It also increases the maximum amount of financial help a single organization can receive from the government from $5 million up to $20 million.
To make sure the money is being used effectively, the Secretary of the Treasury would have to report to Congress every year. They must explain how the fund is working and provide details on how many loans are supporting affordable housing and helping local economies grow.

Milestones

2 milestones2 actions

Feb 26, 2026Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Feb 26, 2026

Introduced in Senate

Related News

5 articles

PYMNTS·18 days ago

Senate's AFFORD Act Seeks New Capital for Underserved Markets

A bill introduced by Sens. Steve Daines and Mark Warner would strengthen the role of the Community Development Financial Institutions Fund (CDFI Fund) in improving capital access. The AFFORD Act enables smaller CDFIs to participate in the Bond Guarantee Program and expands Native CDFI relending.

Scotsman Guide·15 days ago

Following funding scare, CDFIs receive enhanced legislative focus

The bipartisan AFFORD Act, introduced Feb. 26, would provide Congress with enhanced oversight of the CDFI Fund and increase lending capacity. The bill follows a period of uncertainty for the fund and aims to ensure its programs continue to serve rural and tribal communities.

CUInsight·18 days ago

CU Strategic Planning welcomes introduction of bipartisan AFFORD Act

The AFFORD Act aims to strengthen CDFIs and improve oversight of the CDFI Fund. A key provision requires the Secretary of the Treasury to testify annually before the Senate Banking and House Financial Services Committees on the fund's operations to ensure transparency and community impact.

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