U.S. Senators Steve Daines (R-Mont.) and Mark Warner (D-Va.) have introduced the bipartisan “Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act.” The proposed legislation aims to improve transparency in the operations of the Community Development Financial Institutions (CDFI) Fund and strengthen its role in providing capital access and economic development, especially in rural, tribal, and underserved communities across Montana, Virginia, and other parts of the country.
The bill includes measures to extend and enhance the CDFI Bond Guarantee Program so that smaller CDFIs can participate. It also reauthorizes a liquidity enhancement program designed to increase lending capacity among CDFIs. In addition, it seeks to expand a U.S. Department of Agriculture relending program with Native CDFIs to help provide mortgage loans for eligible Native borrowers.
A broad group of senators joined Daines and Warner in introducing the AFFORD Act, including Mike Crapo (R-Idaho), Tina Smith (D-Minn.), Mike Rounds (R-S.D.), Jim Risch (R-Idaho), Chuck Schumer (D-N.Y.), Amy Klobuchar (D-Minn.), John Hickenlooper (D-Colo.), Cory Booker (D-N.J.), Chris Van Hollen (D-Md.), Jim Justice (R-W.Va.), Deb Fischer (R-Neb.), Andy Kim (D-N.J.), Roger Wicker (R-Miss.), Kristen Gillibrand (D-N.Y.), Chris Coons (D-Del.), Tim Sheehy (R-Mont.), Gary Peters (D-Mich.), Dan Sullivan (R-Alaska), Michael Bennet (D-Colo.), Cindy Hyde-Smith (R-Miss.), Ron Wyden (D-Ore.), Katie Britt (R-Ala.), Dick Durbin (D-Ill.), Bill Cassidy (R-La.), Lisa Murkowski (R-Alaska), Kevin Cramer (R-N.D.), John Boozman (R-Ark.) and Martin Heinrich (D-N.M.).
“CDFIs help hardworking families and small business owners in Montana gain access to the opportunities and capital they need for financial success, especially in Montana’s rural and tribal communities. 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. I’m glad to introduce the AFFORD Act, which will do just that,” said Daines.
“CDFIs are critical in bringing capital and financial services to rural, tribal, and underserved communities, and they can be significant partners for local governments to battle rising costs and affordability. I’m proud to be introducing the AFFORD Act, which will expand the capacity of CDFIs so they can reach more communities across Virginia,” said Warner.
Community Development Financial Institutions play an important part in delivering capital access for small businesses and families throughout Montana. The proposed legislation would require annual testimony from the Secretary of Treasury before Congress about CDFI Fund operations during each previous fiscal year.
Senator Daines is a member of both the bipartisan Senate CDFI Caucus as well as an earlier sponsor of related transparency legislation. In October 2025 he supported a letter sent with colleagues urging continued support for the CDFI Fund’s mission serving rural and underserved areas.
According to his official website, Senator Daines grew up in Bozeman, Montana where he attended public schools as a fifth-generation Montanan. He earned a Bachelor of Science degree in chemical engineering from Montana State University (source). As part of his Senate work representing Montana (source), he provides constituent services such as assistance with federal agencies (source) while also engaging through committee assignments (source). He has received awards from the Congressional Management Foundation recognizing transparency efforts by him or his staff (source).
