Boozman Joins Bipartisan AFFORD Act to Strengthen the CDFI Fund

U.S. Sens. Steve Daines, R-Mont., and Mark Warner, D-Va., introduced the bipartisan Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act on Feb. 26. The legislation aims to increase transparency and oversight of the Community Development Financial Institutions (CDFI) Fund and strengthen its role in expanding capital access and economic development in rural, tribal, and other underserved communities.

Sen. John Boozman, R-Ark., joined the bill as an original cosponsor. Cornerstone League’s Cara Tharp worked directly with Boozman’s staff over the past week to bring the bill forward and advocate for his support.

“We appreciate Sen. Boozman’s leadership in joining the AFFORD Act as an original cosponsor. After working with his staff to highlight the importance of this legislation, we’re grateful for the Senator’s support. Strengthening the CDFI Fund is critical to expanding economic opportunity in communities that need it most,” Tharp said.

According to the senators’ announcement, the bill would also extend and enhance the CDFI Bond Guarantee Program to enable participation by smaller CDFIs and reauthorize the CDFI liquidity enhancement program to increase lending capacity.

Read the bill text here.