Access to Fair Financing for Opportunity and Resilient Development Act

This bill changes federal programs that support community development financial institutions (CDFIs), which are lenders that serve underserved communities. It requires the Treasury Secretary or a designee to testify each year before the House and Senate banking committees, at the chairs' discretion, about the CDFI Fund. It extends the CDFI Bond Guarantee Program to at least December 31, 2030, sets a $25 million minimum per guarantee and a $1 billion yearly cap, and lets the CDFI Fund give money to organizations that buy CDFI loans or otherwise support CDFI liquidity, raising the per-organization limit to $20 million. It also allows the Agriculture Department to set aside up to $50 million a year of rural home direct loan funds for loans to Native CDFIs, which would relend to Native American, Alaska Native, and Native Hawaiian homebuyers.

Full text and official record on Congress.gov

Sponsors

• Steve Daines Republican sponsor
• 53 cosponsors