HARPOON Act

Senate Bill

S. 2674

119th Congress

HARPOON Act

In Committee

Introduced:Aug 1, 2025

Primary Sponsor

Steve Daines

Senator

Republican

MT

Cosponsors

3

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would require the Department of the Treasury to provide annual testimony to Congress about the operations of the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund supports financial institutions that serve low-income communities and people. This bill would increase transparency and oversight of how the CDFI Fund uses taxpayer money.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SponsorSteve Daines (R-MT)

Introduced8/1/2025

StatusRead twice and referred to the Committee on Foreign Relations.

ChamberSenate

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Vote Prediction

HARPOON Act

This bill would require the Department of the Treasury to provide annual testimony to Congress about the operations of the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund supports financial institutions that serve low-income communities

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would require the Department of the Treasury to provide annual testimony to Congress about the operations of the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund supports financial institutions that serve low-income communities and people. This bill would increase transparency and oversight of how the CDFI Fund uses taxpayer money.

Bill Number: 2674
Sponsor: Steve Daines (R-MT)
Introduced: 8/1/2025
Status: Read twice and referred to the Committee on Foreign Relations.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: HARPOON Act
Bill Number: 2674
Sponsor: Steve Daines (R-MT)
Status: Read twice and referred to the Committee on Foreign Relations.
Introduced: 8/1/2025
Summary: This bill would require the Department of the Treasury to provide annual testimony to Congress about the operations of the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund supports financial institutions that serve low-income communities and people. This bill would increase tr

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would require the Department of the Treasury to provide annual testimony to Congress about the operations of the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund supports financial institutions that serve low-income communities and people. This bill would increase transparency and oversight of how the CDFI Fund uses taxpayer money.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

CDFI Fund Transparency Act This bill requires annual congressional testimony from the Department of the Treasury regarding the operations of the Community Development Financial Institutions Fund.

Key Points

Main provisions of the bill

Requires the Treasury Department to provide annual testimony to Congress about the CDFI Fund's operations.
The CDFI Fund supports financial institutions that serve low-income and underserved communities.
Increases transparency and congressional oversight of how the CDFI Fund uses federal funding.

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would affect the operations of the CDFI Fund and the financial institutions it supports. Greater transparency and congressional oversight could lead to changes in how the CDFI Fund allocates its resources and what types of community development projects it funds. This could have real-world impacts on the availability of financial services and economic opportunities in low-income and underserved areas.