H.R. 3161, known as the “CDFI Fund Transparency Act,” proposes changes to the Riegle Community Development and Regulatory Improvement Act of 1994. It requires the Director of the Community Development Financial Institutions (CDFI) Fund to give an annual testimony before...
Simple Explanation
H.R. 3161 is a bill that wants the leader of a special group, called the CDFI Fund, to tell Congress once a year about how they help banks that support communities, especially ones that help different cultures. This is to make sure they're doing a good job helping these banks.