CDFI Fund Transparency

Section 104(b) of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4703(b)) is amended by adding to the end the following: (5) Annual testimony The Secretary of the Treasury (or a designee of the Secretary) shall, at the discretion of the Chair of the Committee on Financial Services of the House of Representatives and the Chair of the Committee on Banking, Housing, and Urban Affairs of the Senate, annually testify before such committees (or a subcommittee of such committees) regarding— (A) the operations of the Fund during the previous year; (B) steps the Secretary and the Fund are taking to support community development financial institutions through the financial agent mentor-protégé program; and (C) steps the Secretary and the Fund are taking to coordinate with regulators to ensure certification and reporting requirements are appropriately streamlined for community development financial institutions..

Section 104(b) of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4703(b)) is amended by adding to the end the following: (5) Annual testimony The Secretary of the Treasury (or a designee of the Secretary) shall, at the discretion of the Chair of the Committee on Financial Services of the House of Representatives and the Chair of the Committee on Banking, Housing, and Urban Affairs of the Senate, annually testify before such committees (or a subcommittee of such committees) regarding— (A) the operations of the Fund during the previous year; (B) steps the Secretary and the Fund are taking to support community development financial institutions through the financial agent mentor-protégé program; and (C) steps the Secretary and the Fund are taking to coordinate with regulators to ensure certification and reporting requirements are appropriately streamlined for community development financial institutions..