CDFI Crisis Fund Act

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

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 9, 2022

CDFI Crisis Fund Act

This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by

certain emergency declarations, including the COVID-19 emergency period;

certain disaster declarations;

a specified increase in a statewide unemployment rate; or

a specified increase in the nationwide unemployment rate.

Specified amounts in the fund are set aside for grants to Native and minority CDFIs.

The Government Accountability Office must report on the impact of the fund and provide recommendations.

Read the summary on Congress.gov

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People & committees

Who introduced it

Sen. Schatz, Brian [D-HI] · D–HI

Committees

Banking, Housing, and Urban Affairs Committee

11 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

May 9, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 9, 2022
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · May 9, 2022 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

S 4430 · CDFI Crisis Fund Act

Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.4165 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.4165, 117th Congress: CDFI Crisis Fund Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/4165

Text version to examine: Introduced in Senate · 2022-05-09.

Official full text: https://www.congress.gov/117/bills/s4165/BILLS-117s4165is.htm

Imported record last updated by the source: 2025-04-07T15:03:50Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.4165 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Progressive lens

Examine S.4165 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.4165, 117th Congress: CDFI Crisis Fund Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/4165

Text version to examine: Introduced in Senate · 2022-05-09.

Official full text: https://www.congress.gov/117/bills/s4165/BILLS-117s4165is.htm

Imported record last updated by the source: 2025-04-07T15:03:50Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.4165 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Examine S.4165 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss S.4165, 117th Congress: CDFI Crisis Fund Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/4165

Text version to examine: Introduced in Senate · 2022-05-09.

Official full text: https://www.congress.gov/117/bills/s4165/BILLS-117s4165is.htm

Imported record last updated by the source: 2025-04-07T15:03:50Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.4165 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Examine S.4165 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

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Discuss S.4165, 117th Congress: CDFI Crisis Fund Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/4165

Text version to examine: Introduced in Senate · 2022-05-09.

Official full text: https://www.congress.gov/117/bills/s4165/BILLS-117s4165is.htm

Imported record last updated by the source: 2025-04-07T15:03:50Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.4165 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.