S. 3940 · 119th Congress

Expands federal support for community development lenders, including Native lenders

Official title: Access to Fair Financing for Opportunity and Resilient Development Act1

Never got a floor vote

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

Drafted by AI from the public sources cited. Each sentence links to its source.

This bill would expand federal programs that support community development financial institutions (CDFIs), lenders certified by the Treasury Department that serve underserved and economically distressed communities.2,3 It would renew the Treasury's CDFI bond guarantee program through at least 2030 with up to $1 billion in guarantees a year, and let the Treasury's CDFI Fund give organizations up to $20 million to buy these lenders' loans or back them with guarantees and loss reserves.3 It would also let the Agriculture Department use up to $50 million a year of its rural home loan funds to lend to Native American-owned CDFIs, which would relend the money as home mortgages to members of Indian tribes and Alaska Native and Native Hawaiian communities.3 The Treasury secretary would also have to testify each year, when the chairs of the House Financial Services and Senate Banking committees call for it, about the CDFI Fund's operations.3

§2Status

StatusLatest action, February 26, 2026: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.1
IntroducedFebruary 26, 2026
SponsorSen. Daines, Steve [R-MT]
Cosponsors53 cosponsors (34 Democratic, 18 Republican, 1 independent)
Official recordS. 3940 on Congress.gov

§3It never got a vote

Why this matters: This bill had wide support from both parties, but it never reached the House or Senate floor, so no member of Congress was ever recorded voting for or against it.

Latest action, February 26, 2026: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.1 How bills die without a vote.

2026 candidates who sponsored or cosponsored it (13)