CDFI Fund Seeks Public Comment on CDFI ERP-related changes to the Transaction Level Report

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is soliciting public comment on changes to the Transaction Level Report (TLR) that will capture data on transactions related to the Community Development Financial Institutions Equitable Recovery Program (CDFI ERP).

In 2023, the CDFI Fund allocated $1.73 billion in federal financial assistance to 604 CDFIs as CDFI ERP Recipients. These grants are designated to address the economic impacts of the COVID–19 pandemic in Low-Income or Moderate-Income communities, and among minority borrowers facing significant unmet capital or financial services needs exacerbated by the pandemic. The CDFI ERP focuses specifically on directing Financial Products and Grants to eligible communities most affected by COVID-19.

The proposed modifications to the TLR will enable the CDFI Fund to collect data relevant to the specific geographic and programmatic focus of the CDFI ERP, ensuring effective tracking and assessment of CDFI ERP impacts and compliance with program terms. These changes aim to streamline reporting for award recipients while maximizing the use of existing forms and reports where possible.

Key Updates Include:

1. Updates to Existing TLR, Address Record, and Loan Purchase Reports:
   1. Addition of new answer choices for existing data fields.
   2. Introduction of new data fields to measure the specific impacts, geographies, and characteristics of CDFI ERP transactions.
2. New Reporting Templates for CDFI ERP-Specific Grants and Consumer Loans:
   1. Introduction of a new Grant-Level Report (GLR) template to capture any grantmaking activity associated with achieving CDFI ERP Performance Goals.
   2. Introduction of a new Consumer Loan Report (ERP CLR) subtotal breakout, summarizing CDFI ERP consumer loan activity at the census tract level.

These new data points and templates will only be required for transactions associated with CDFI ERP. The proposed changes have been designed to align with the CDFI ERP Program Eligible Activities and ensure compatibility with the CDFI Certification Application’s use of TLR data.

The CDFI Fund invites comments on the necessity, accuracy, quality, and burden of these proposed changes, as well as suggestions for enhancing their clarity and utility. Comments should address the collection of information for the proper functioning of the CDFI Fund, methods to minimize reporting burdens, and estimates of associated costs.

Comments must be received via email no later than 60 days after the date of publication of the Federal Register notice. Comments should be addressed to Shannon McKay, Program Manager, Office Financial Strategies and Research, CDFI Fund, U.S. Department of the Treasury, at CDFI-FinancialStrategiesandResearch@cdfi.treas.gov.

Questions related to the Notice and Request for Public Comment can be directed to Shannon McKay, Program Manager for Office of Financial Strategies and Research, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Ave. NW., Washington, DC 20220 or by phone at (202) 653-0300. Other information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund’s website at https://www.cdfifund.gov.

Related Materials:

• Federal Register Notice
• CDFI ERP Transaction Level Report Data Point Guidance (For Comment)