Agency Information Collection Activities; Proposed Collection; Comment Request; Annual Certification and Data Collection Report Form and Abbreviated Transaction Level Report

Issuing agencies

Abstract

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund), Department of the Treasury, is soliciting comments concerning the Annual Certification and Data Collection Report (ACR) and the abbreviated Transaction Level Report (TLR), which CDFI Certification Applicants and Certified CDFIs will submit through the CDFI Fund's Awards Management Information System (AMIS).

Full Text

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<title>Federal Register, Volume 91 Issue 188 (Wednesday, September 30, 2026)</title>
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[Federal Register Volume 91, Number 188 (Wednesday, September 30, 2026)]
[Notices]
[Pages 61930-61932]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-20040]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

[Docket No. CDFI-2026-0199]


Agency Information Collection Activities; Proposed Collection; 
Comment Request; Annual Certification and Data Collection Report Form 
and Abbreviated Transaction Level Report

ACTION: Notice of information collection; request for public comment.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to comment on proposed and/or 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. Currently, the Community Development

[[Page 61931]]

Financial Institutions Fund (CDFI Fund), Department of the Treasury, is 
soliciting comments concerning the Annual Certification and Data 
Collection Report (ACR) and the abbreviated Transaction Level Report 
(TLR), which CDFI Certification Applicants and Certified CDFIs will 
submit through the CDFI Fund's Awards Management Information System 
(AMIS).

DATES: Written comments must be received on or before November 30, 
2026, to be assured of consideration.

ADDRESSES: You may submit comments via the Federal eRulemaking Portal 
at <a href="http://www.regulations.gov">www.regulations.gov</a> Docket No. CDFI-2026-0199. Follow the 
instructions on the website for the submission of comments. In general, 
all comments will be available for inspection at <a href="http://www.regulations.gov">www.regulations.gov</a>. 
Comments, including attachments and other supporting materials, are 
part of the public record. Do not submit any information in your 
comments or supporting materials that you consider confidential or 
inappropriate for public disclosure.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Shannon McKay, Acting Program Manager for the 
Office of Certification Policy and Evaluation, 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 <a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>.

SUPPLEMENTARY INFORMATION: 
    Title: Annual Certification and Data Collection Report Form and 
abbreviated Transaction Level Report
    OMB Control Number: 1559-0046.
    Abstract: A certified Community Development Financial Institution 
(CDFI) is a specialized financial institution that works in markets 
that are underserved by traditional financial institutions. CDFIs 
provide a range of financial products and services in economically 
distressed target markets, such as mortgage financing for low-income 
and first-time homebuyers and not-for-profit developers, flexible 
underwriting and risk capital for needed community facilities, and 
technical assistance, commercial loans and investments to small start-
up or expanding businesses in low-income areas. CDFIs include regulated 
institutions such as community development banks and credit unions, and 
non-regulated institutions such as loan and venture capital funds.
    CDFI certification is a designation conferred by the CDFI Fund and 
is a requirement for accessing various CDFI Fund programs. A financial 
institution seeking to become a Certified CDFI and qualify to apply for 
assistance from the CDFI Fund must complete the CDFI Certification 
Application (OMB Control Number 1559-0028). CDFI Certification and the 
Annual Certification and Data Collection Report (ACR) are requirements 
of Certified CDFIs. The Transaction Level Report (TLR) is a requirement 
of CDFIs that receive Financial Assistance (FA) awards from the CDFI 
Fund.
    The CDFI Fund is authorized by the Riegle Community Development 
Banking and Financial Institutions Act of 1994 (Pub. L. 103-325, 12 
U.S.C. 4701 et seq.) (the Act). The regulations governing CDFI 
certification are found at 12 CFR 1805.201 (the Regulations). In 
December 2023, the CDFI Fund released a revised version of the ACR and 
introduced the abbreviated TLR form which was the culmination of an 
effort begun in January 2017 to ensure the CDFI Certification policies 
and procedures continue to meet statutory and regulatory requirements, 
are responsive to the evolving nature of the CDFI industry, and protect 
government resources. Now that the CDFI Fund has reviewed close to 
1,400 CDFI Certification Applications that used the revised version of 
the Application released in December 2023, there are some additional 
CDFI Certification policy changes, as well as changes to the CDFI 
Certification Application and its supporting tools (ACR and abbreviated 
TLR) that the CDFI Fund is seeking public comment on. These changes 
ensure CDFI Certification is aligned with the Administration's 
executive orders and efforts to reduce waste, fraud, and abuse within 
federal programs.
    The proposed changes to the ACR and abbreviated TLR are to bring 
them in alignment with the proposed changes to the CDFI Certification 
Application. These changes include the elimination of any references to 
``Other Targeted Population--African American,'' ``Other Targeted 
Population--Hispanic,'' ``Other Targeted Population--Other Pacific 
Islander,'' ``Other Targeted Population--Filipino,'' and ``Other 
Targeted Population--Vietnamese'' which will no longer be eligible 
Target Market types. The CDFI Fund will no longer allow any Other 
Targeted Population (OTPs) Target Market types that are based on the 
race and/or ethnicity of the borrower. This policy change extends to 
any Section Zero Application submission proposing approval of a new 
Target Market type.
    The Abbreviated TLR will no longer include any data fields 
collecting information about minority status or sex of the business 
owner as well as climate-centered financing. Several questions are 
being added to the ACR to assess the Certified CDFI's and any relevant 
Affiliate's changes in administrative proceedings history and 
compliance in other federal award programs. In addition, the ACR's 
subsection on ``BOARD AND EXECUTIVE STAFF DEMOGRAPHIC INFORMATION'' 
will be eliminated except for two questions on the total size of 
governing leadership members and total size of Executive Staff. The 
CDFI Fund will also be eliminating the ``Accountability'' section and 
the ``Native American TM Accountability Attestation'' question related 
to board accountability from the ACR. There will no longer be a 
requirement of CDFI Certification connecting Target Market 
Accountability to board representation instead Accountability will be 
measured through Target Market activity. There are other minor changes 
to question wording or answer choices throughout the ACR and ATLR to 
better align the forms with the current versions in AMIS. The CDFI Fund 
anticipates that the overall effect of the changes to the Application 
will be a net reduction in burden to Certified CDFIs and CDFI 
Certification Applicants.
    Current Actions: Revision of a currently approved collection.
    Type of Review: Regular.
    Form: Annual Certification and Data Collection Report.
    Affected Public: Certified CDFIs.
    Estimated Number of ACR Respondents: 1,277.
    Frequency of ACR Responses: Annually.
    Estimated Total Number of ACR Annual Responses: 1,277.
    Estimated Annual Time per ACR Respondent: 20 hours.
    Estimated Total ACR Annual Burden Hours: 25,540 hours.
    Form: Abbreviated Transaction Level Report.
    Affected Public: Non-Financial Assistance Certified CDFIs seeking 
Recertification (699) and new CDFI Certification Applicants (150).
    Estimated Number of abbreviated TLR Respondents: 849.
    Frequency of ATLR Responses: Annually.
    Estimated Total Number of ATLR Annual Responses: 849.
    Estimated Annual Time Per ATLR Respondent: 20 hours.
    Estimated Total ATLR Annual Burden Hours: 16,980 hours.

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    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record at <a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>. The CDFI Fund is seeking input on the content of the 
revised CDFI Certification Application. The application and related 
guidance may be obtained on the CDFI Fund's website at <a href="https://www.cdfifund.gov/programs-training/certification/cdfi/Pages/default.aspx">https://www.cdfifund.gov/programs-training/certification/cdfi/Pages/default.aspx</a>.
    Comments are invited on: (a) whether the collection of information 
is necessary for the proper performance of the functions of the agency, 
including whether the information shall have practical utility; (b) the 
accuracy of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information collected; (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services to provide 
information. An agency may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless the 
collection of information displays a valid OMB control number.
    In addition, the CDFI Fund requests comments in response to the 
following questions:
    1. With the proposed change to eligible Target Market types, 
currently Certified CDFIs with an approved Target Market component of 
``Other Targeted Population--African American,'' ``Other Targeted 
Population--Hispanic,'' ``Other Targeted Population--Other Pacific 
Islander,'' ``Other Targeted Population--Filipino,'' and/or ``Other 
Targeted Population--Vietnamese'' will no longer qualify as Target 
Markets for CDFI Certification and therefore, must seek approval to 
serve one of the remaining eligible Target Market Components. The CDFI 
Fund is planning on a one-year transition period for Certified CDFIs 
that currently rely on a now-prohibited Target Market, to qualify under 
one or more of the remaining eligible Target Market types. With the 
exception of a longer transition period, is there anything that the 
CDFI Fund could do to make this deadline more feasible for your 
organization?
    2. Are there certain questions that should be added to the ACR and 
abbreviated TLR to ensure CDFI Certification is adequately addressing 
the Administration's concerns around waste, fraud, and abuse in federal 
programs?
    3. To strengthen the financial entity portion of the ACR, the CDFI 
Fund is considering whether to require the submission of audited 
financial statements for any questions referencing the most recently 
completed fiscal year balance sheets. What would the estimated burden 
hours be for an institution to comply with this requirement?
    4. Under current policy, in order to maintain CDFI Certification, 
Certified CDFIs need to have closed at a minimum, one (1) financial 
product in their proposed Target Market during their most recently 
completed fiscal year prior to the ACR submission date. The CDFI Fund 
is considering raising this threshold. What is a reasonable threshold 
that Certified CDFIs should meet in order to be eligible to retain CDFI 
Certification? Should this threshold vary by the financial institution 
type or other organizational defining characteristics such as years in 
operation, financial product offerings (i.e., residential mortgages v. 
small business loans v. small dollar loans)?
    5. For consumer loans only, regulated entities currently report 
their activity at an aggregated level by census tract. This aggregation 
makes it difficult for CDFI Fund staff to verify which loan 
transactions go to which designated Target Market type if an Applicant 
or Certified CDFI has multiple Target Market types applicable to 
different loan transactions in that census tract. To solve this 
problem, the CDFI Fund is considering eliminating the current Consumer 
Loan Report (CLR) and requiring regulated entities to report their 
consumer loans at an individual loan level using the abbreviated TLR or 
the full-length TLR. Would this policy change impose a burden on a 
regulated entity's ability to complete and submit their ACR and TLR in 
a timely manner?
    6. In revising the Accountability requirement to be measured 
through Target Market activity rather than board representation, the 
CDFI Fund is evaluating whether minimum thresholds of Target Market 
activity should be set for entities that are approved to serve more 
than one Target Market type. What should be the minimum threshold per 
approved Target Market type for an institution to comply?

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: September 28, 2026.
Christopher Miller,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2026-20040 Filed 9-29-26; 8:45 am]
BILLING CODE 4810-70-P


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