WASHINGTON, D.C. – U.S. Senators Steve Daines (R-Mont.) and Mark Warner (D-Va.) today introduced the bipartisan “Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act.” The AFFORD Act will provide added transparency over CDFI Fund operations and strengthen its role in improving capital access and economic development in rural, tribal, and other underserved communities in Montana, Virginia, and across the country. Additionally, the bill would extend and enhance the CDFI Bond Guarantee Program to enable participation by smaller CDFIs, reauthorizes the CDFI liquidity enhancement program to increase CDFI lending capacity and reach more communities, and bolsters the role of Native CDFIs by expanding a USDA CDFI relending program that partners with Native CDFIs to deploy mortgage loans to eligible Native borrowers.
Senators Mike Crapo (R-Idaho), Tina Smith (D-Minn.), Mike Rounds (R-S.D.) Jim Risch (R-Idaho), Chuck Schumer (D-N.Y.), Amy Klobuchar (D-Minn.), John Hickenlooper (D-Colo.), Cory Booker (D-N.J.), Chris Van Hollen (D-MD), Jim Justice (R-W.V.), Deb Fischer (R-Neb.), Andy Kim (D-N.J.), Roger Wicker (R-Miss.), Kristen Gillibrand (D-N.Y.), Chris Coons (D-Del.), Tim Sheehy (R-Mont.), Gary Peters (D-Mich.), Dan Sullivan (R-Alaska), Michael Bennet (D-Colo.), Cindy Hyde-Smith (D-Miss.), Ron Wyden (D-Ore.), Katie Britt (R-Ala.), Dick Durbin (D-Ill.), Bill Cassidy (R-La.), Lisa Murkowski (R-Alaska), Kevin Cramer (R-N.D.), John Boozman (R-Ark.) and Martin Heinrich (D-N.M.) joined Daines and Warner in introducing the bill.
“CDFIs help hardworking families and small business owners in Montana gain access to the opportunities and capital they need for financial success, especially in Montana’s rural and tribal communities. It’s critical we improve transparency surrounding the operations of the CDFI Fund to ensure its programs continue to serve the vital role of increasing economic development and helping Montana communities thrive. I’m glad to introduce the AFFORD Act, which will do just that,” said Daines.
“CDFIs are critical in bringing capital and financial services to rural, tribal, and underserved communities, and they can be significant partners for local governments to battle rising costs and affordability. I’m proud to be introducing the AFFORD Act, which will expand the capacity of CDFIs so they can reach more communities across Virginia,” said Warner.
Read the bill text HERE.
Background:
Community Development Financial Institutions (CDFIs) play a critical role in bringing capital and financial services to a wide range of small businesses and families across Montana. The “CDFI Fund Transparency Act” would require the Secretary of the Treasury to testify annually before the Senate Banking and House Financial Services Committees regarding the operations of the CDFI Fund during the previous fiscal year.
Daines is a member of the bipartisan Senate CDFI Caucus and introduced the CDFI Fund Transparency Act. In October 2025 Daines joined his colleagues in sending a letter to the Office of Management and Budget (OMB) and the U.S. Department of Treasury affirming his continued support for the CDFI Fund and its role in supporting economic prosperity in underserved and rural communities.
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Contact: Matt Lloyd, Gabby Wiggins