CONGRESS FOR VOTERS

Steve Daines (R-MT)

Access to Fair Financing for Opportunity and Resilient Development Act

S. 3940 · Senate bill Finance and Financial Sector

A Republican bill with 35 Democratic cosponsors · See all 54 cosponsors

Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Access to Fair Financing for Opportunity and Resilient Development Act," aims to amend the Community Development Banking and Financial Institutions Act of 1994. It requires the Secretary of the Treasury to testify annually before specific Senate and House committees regarding the operations of the Fund. The legislation updates the CDFI Bond Guarantee Program by adjusting guarantee limits and extending its duration. It also expands the ability of the Fund to provide assistance to organizations to enhance liquidity for community development financial institutions. Furthermore, it establishes a Native CDFI Relending Program to support homeownership and mortgage transactions for specific communities.

Yes· 3 of 12

  • Scored +7

    Would Native Americans be better off under this?

    The bill includes specific set-asides and support programs for Native American communities and their institutions.

  • Scored +6

    Does this make housing cost less?

    The bill specifically targets increasing homeownership opportunities and mortgage access for Native communities.

  • Scored +5

    Would households on low incomes be better off under this?

    The bill expands access to financial services and housing support for underserved communities.

The opposite

No question was scored the opposite.