To amend the Riegle Community Development and Regulatory Improvement Act of 1994 to require annual testimony to Congress on the operations of the Community Development Financial Institutions Fund.

# HR 7775 Summary **What the Bill Would Do** HR 7775 would require the Community Development Financial Institutions (CDFI) Fund to provide annual testimony to Congress about how it operates. The CDFI Fund is a federal program that helps provide financing and support to underserved communities through community development financial institutions—organizations that offer banking services, loans, and investments in areas that traditional banks often overlook. **Who It Affects** This bill primarily affects Congress (which would receive regular updates) and the CDFI Fund administrators.

Indirectly, it could affect community development financial institutions and the low-income communities they serve, though the bill itself only adds a reporting requirement rather than changing the program's structure or funding. **Current Status** The bill was introduced by Representative John Rose (R-TN) in the 119th Congress and is currently in committee, meaning it has not yet advanced to a full House vote. No significant action has been taken on it.