The CDFI Fund Transparency Act would require the Treasury Secretary (or a designee) to testify before Congress annually about how the Community Development Financial Institutions Fund operates. The bill amends existing law from 1994 that created this federal fund, which supports financial institutions serving low-income communities. The testimony would occur at the request of the chairs of the House Financial Services Committee and the Senate Banking Committee (or their subcommittees) and would cover the previous year's activities and results. The bill contains no new funding requirements and would simply increase congressional oversight of an existing program. This legislation aims to make the CDFI Fund's operations more transparent and accountable to elected officials.
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