To amend the Community Development Banking and Financial Institutions Act of 1994 to include in technical assistance provided by the Community Development Financial Institutions Fund resources for non-English speaking individuals, and for other purposes.
About This Bill
Committee
Latest Action · May 2, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill amends the Community Development Banking and Financial Institutions Act to require the Community Development Financial Institutions Fund to provide outreach and resources specifically for non-English speaking individuals and those with limited English proficiency as part of its technical assistance programs. The legislation affects community development financial institutions and the low-income individuals and communities they serve, particularly those who face language barriers in accessing financial services and information. The bill does not authorize new funding or establish a specific timeline for implementation, instead modifying existing requirements for technical assistance that these institutions already provide. By expanding the scope of technical assistance to include language resources, the bill aims to improve financial inclusion for underserved populations who may struggle to access banking and financing information in English.
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