A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to require the Secretary of the Treasury to testify before Congress, and for other purposes.

# Bill Summary: S 3940 **What the Bill Would Do** This bill would amend a 1994 law governing Community Development Financial Institutions (CDFIs)—specialized banks and lenders that serve low-income communities and underserved areas. The main requirement would force the Treasury Secretary to testify before Congress about these institutions. The bill's language includes the phrase "and for other purposes," which suggests it may contain additional provisions not fully detailed in the available information. **Who It Affects** The bill would directly impact the Treasury Department and Congress's oversight role.

Indirectly, it could affect Community Development Financial Institutions themselves and the communities they serve (typically lower-income and rural areas that have limited access to traditional banking services). **Current Status** As of now, S 3940 remains in committee and has not advanced further in the legislative process. This means it has not yet been debated or voted on by the full Senate. The bill was introduced by Senator Steve Daines (R-MT). **Note:** Without access to the full bill text, the complete scope of "other purposes" cannot be determined from this summary alone.