CDFI Fund Transparency Act
To amend the Riegle Community Development and Regulatory Improvement Act of 1994 to require annual testimony to Congress on the operations of the Community Development Financial Institutions Fund.
HB7775, known as the CDFI Fund Transparency Act, aims to enhance the oversight and transparency of the Community Development Financial Institutions Fund. This bill seeks to amend the Riegle Community Development and Regulatory Improvement Act of 1994 by mandating that the Fund's operations are reported annually to Congress. This would ensure that the Fund's activities are more visible and accountable to lawmakers and the public.
This bill would primarily affect the Community Development Financial Institutions Fund and its stakeholders. By requiring annual testimony, it aims to provide more insight into how the Fund is managed and its impact on community development projects. This could lead to better-informed decisions and potentially increased public trust in the Fund’s operations.
As of March 3, 2026, HB7775 was introduced in the House and referred to the House Committee on Financial Services. This is the initial stage of the legislative process, and the bill is now under review by the committee. Future steps may include committee hearings, amendments, and a vote before it can move forward in the legislative process.
