Senate’s AFFORD Act Seeks New Capital for Underserved Markets

A bill introduced in the Senate Thursday (Feb. 26) would strengthen the role of the Community Development Financial Institutions Fund (CDFI Fund) in improving capital access and economic development in underserved communities, its supporters say.

The “Access to Fair Financing for Opportunity and Resilient Development Act” (AFFORD Act) was introduced by Sens. Steve Daines (R-Mont.) and Mark Warner (D-Va.), they said in a Tuesday press release.

The bill would enable smaller CDFIs to participate in the CDFI Bond Guarantee Program, reauthorize the CDFI liquidity enhancement program to increase CDFI lending capacity, and expand a USDA CDFI relending program that supports Native CDFIs, according to the release.

PYMNTS reported in March 2025 that the CDFI Fund promotes economic opportunity in underserved communities by supporting mission-driven financial institutions that provide capital and services to individuals and businesses often overlooked by traditional banks.

Daines and Warner said in the Thursday press release that CDFIs help rural and tribal communities access capital and financial services.

“It’s critical we improve transparency surrounding the operations of the CDFI Fund to ensure its programs continue to serve the vital role of increasing economic development and helping Montana communities thrive,” Daines said in the release. “I’m glad to introduce the AFFORD Act, which will do just that.”

Warner said in the release: “I’m proud to be introducing the AFFORD Act, which will expand the capacity of CDFIs so they can reach more communities across Virginia.”

America’s Credit Unions said in a Friday (Feb. 27) press release that the AFFORD Act has strong supportamong credit unions and that credit unions make up 446 of the 1,383 certified CDFIs nationwide.

The organization added that the bill brings together language from three earlier bills: the CDFI Fund Transparency Act, the CDFI Bond Guarantee Program Improvement Act of 2025 and the Scaling Community Lenders Act.

“The most vulnerable communities across the nation required tailored assistance and support to succeed,” America’s Credit Unions President and CEO Scott Simpson said in the release. “Credit unions have long been the financial first responders for these underserved populations, acting as a lifeline for access and opportunities. The CDFI Fund recognizes this important role and provides the additional capital needed to keep credit unions serving the most vulnerable.”