CDFI Fund Seeks Comment On Changes To Certification, Reporting Requirements
By CU Today Staff —
WASHINGTON—The Treasury Department’s CDFI Fund is seeking public comment on proposed changes to reporting requirements used to maintain CDFI certification, including its Annual Certification and Data Collection Report (ACR) and Abbreviated Transaction Level Report (ATLR).
The review comes after the CDFI Fund processed nearly 1,400 certification applications under requirements revised in December 2023. The agency said the latest proposed changes are intended to align its certification and reporting processes with Administration executive orders and efforts to reduce waste, fraud and abuse in federal programs.
Among the areas on which the CDFI Fund is seeking feedback are accountability and board representation requirements, eligible Target Market types, certification eligibility requirements, measures aimed at fraud, waste and abuse, and proposed revisions to questions and attachments in the ACR and ATLR. The agency is also seeking input on whether the information it collects is necessary, how reporting burdens could be reduced and ways to improve the quality and usefulness of the data.
Comments are due 60 days after publication of the Federal Register notice and may be submitted through Regulations.gov. The full Federal Register notice includes the specific questions on which the CDFI Fund is requesting public input.
Originally reported by CU Today.