[Federal Register Volume 89, Number 163 (Thursday, August 22, 2024)]
[Notices]
[Pages 68029-68030]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-18769]



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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Announcement Type: Notice and Request for Public Comment

AGENCY: Community Development Financial Institutions Fund, Treasury.

ACTION: Notice and 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 take this opportunity 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), U.S. Department of 
the Treasury, is soliciting comments concerning the changes to the 
Transaction Level Report (TLR) that will capture transactions related 
to the Community Development Financial Institutions Equitable Recovery 
Program (CDFI ERP).

DATES: Written comments must be received on or before October 21, 2024 
to be assured of consideration.

ADDRESSES: Submit your comments via email to Shannon McKay, Program 
Manager, Office Financial Strategies and Research, CDFI Fund, U.S. 
Department of the Treasury, at [email protected].

FOR FURTHER INFORMATION CONTACT: 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.

SUPPLEMENTARY INFORMATION: 
    Title: CDFI/NACA Program Award Recipient and NMTC Allocatee Annual 
Report including CDFI ERP.
    OMB Number: 1559-0027.
    Abstract: This information collection currently captures 
quantitative transactional information from CDFIs as part of their 
reporting requirements under the CDFI Program Financial Assistance (FA) 
and CDFI Rapid Response Program (CDFI RRP) Awards. The CDFI Fund is 
proposing additional changes and data points to these transaction-level 
reports to capture transaction data associated with the CDFI Equitable 
Recovery Program (CDFI ERP) as well. CDFIs submit these TLRs as part of 
their annual award compliance reporting requirements. The current 
reporting requirements for the FA, CDFI RRP, and CDFI ERP Programs can 
be found on the CDFI Fund website at https://www.cdfifund.gov/. The 
current version of the existing TLR guidance is available at https://www.cdfifund.gov/amis-reportingunderCDFI/NACA/RRP Transaction Level 
Report (TLR) Data Point Collection Guide--December 2023.
    This information is used to assess: (1) the Award Recipient's 
approved use of the Award Funds; (2) the Award Recipient's financial 
condition; (3) the socio-economic characteristics of Award Recipient's 
borrowers/investees, loan and investment terms, repayment status, and 
community development outcomes; (4) the Award Recipient's compliance 
with certain CDFI Certification and Target Market requirements; and (5) 
overall compliance with the terms and conditions of the allocation 
agreement entered into by the CDFI Fund and the Recipient.
    To address the CDFI ERP reporting, impact measurement, and 
compliance needs, the following changes are proposed:

Updates to the Existing TLR, Address Record, and Loan Purchase Reports

    [ssquf] New answer choices for existing data fields.
    [ssquf] New data fields for measuring the specific impacts, 
geographies, and characteristics of CDFI ERP transactions.

New Reporting Templates for CDFI ERP-Specific Grants and Consumer Loans

    [ssquf] A new Grant-Level Report (GLR) template and data fields to 
capture grantmaking activity that CDFI ERP Award Recipients may conduct 
as part of meeting their CDFI ERP Performance Goals and Activities.
    [ssquf] A new CDFI ERP-specific Consumer Loans/Investments Report 
(ERP CLR) subtotal breakout completed by regulated entities only 
(banks, credit unions, cooperativas, and depository institution holding 
companies) that summarizes CDFI ERP consumer loan activity at the 
census tract level and is completed in addition to the existing CLR.
    The data points and reports (new and revised) align with the CDFI 
ERP Eligible Activities and will allow the CDFI Fund to track and 
assess CDFI ERP impacts and compliance with certain terms and 
conditions of the CDFI ERP Award. The proposed changes also aim to 
minimize reporting burden for Award Recipients and maximize use of 
existing forms/reports where possible. The new data points and 
templates will only be required for transactions the CDFI is choosing 
to associate with CDFI ERP. In addition, the proposed changes are 
presented with careful consideration of and intended compatibility with 
the CDFI Certification Application's use of TLR data.
    For existing TLR data fields, one data point has been revised in 
the TLR and Loan Purchase TLR Objects in the Awards Management 
Information System to allow CDFIs to indicate a TLR transaction is 
associated with CDFI ERP:

[ssquf] Financial Assistance (FA) Program Type

    New data fields (limited to CDFI ERP transactions only) have been 
added to the following existing TLR forms to capture data on CDFI ERP 
Eligible Activities, progress relating to CDFI ERP objectives, and 
compliance with unique CDFI ERP requirements (i.e., transactions taking 
place in CDFI ERP-Eligible Geographies). The form name is indicated in 
brackets following each data point.

[ssquf] ERP 2010 Census Tract [TLR Address, Loan Purchases]
[ssquf] ERP Small Business [TLR]
[ssquf] ERP Race [TLR, Loan Purchases]
[ssquf] ERP Ethnicity [TLR, Loan Purchases]
[ssquf] ERP Minority Owned or Controlled [TLR, Loan Purchases]
[ssquf] ERP Impact (Employment) [TLR, Loan Purchases]
[ssquf] ERP Impact (Healthcare) [TLR, Loan Purchases]
[ssquf] ERP Impact (Childcare) [TLR, Loan Purchases]
[ssquf] ERP Impact (Housing Stability) [TLR, Loan Purchases]
[ssquf] ERP Impact (Affordable Housing) [TLR, Loan Purchases]
[ssquf] ERP Impact (Broadband) [TLR, Loan Purchases]
[ssquf] ERP Impact (Food Insufficiency) [TLR, Loan Purchases]
[ssquf] ERP Impact (Business Disruption) [TLR, Loan Purchases]
[ssquf] ERP Impact (Other) [TLR, Loan Purchases]
[ssquf] ERP Impact (Other)--Explain [TLR, Loan Purchases]
[ssquf] ERP Small Business [TLR, Loan Purchases]
[ssquf] ERP Qualifying Native Transaction [TLR, Loan Purchases]

    In the current version of the TLR, award recipients are not allowed 
to report on grants because they are not considered an eligible 
financial product reportable on the TLR. Since grants are an allowed 
eligible activity under CDFI ERP, the Fund has created a new form

[[Page 68030]]

to capture grants activity from CDFI ERP recipients only. The new 
form's data points are listed below:

New CDFI ERP Grant-Level Report (GLR)

[ssquf] GLR Submission Year
[ssquf] Grant Award Date
[ssquf] Amount
[ssquf] Status
[ssquf] Purpose *
[ssquf] Climate-Focued Purpose
[ssquf] Investee Type *
[ssquf] ERP 2010 Census Tract
[ssquf] Originator Transaction ID *
[ssquf] Client ID *
[ssquf] Other Targeted Populations *
[ssquf] Description of Other Approved OTP *
[ssquf] OTP End Users *
[ssquf] Description of Other Approved OTP End-Users *
[ssquf] ERP Race
[ssquf] ERP Ethnicity
[ssquf] ERP Minority Owned or Controlled
[ssquf] ERP Impact (Employment)
[ssquf] ERP Impact (Healthcare)
[ssquf] ERP Impact (Childcare)
[ssquf] ERP Impact (Housing Stability)
[ssquf] ERP Impact (Affordable Housing)
[ssquf] ERP Impact (Broadband)
[ssquf] ERP Impact (Food Insufficiency)
[ssquf] ERP Impact (Business Disruption)
[ssquf] ERP Impact (Other)
[ssquf] ERP Impact (Other)--Detail
[ssquf] ERP Small Business
[ssquf] ERP Qualifying Native Transaction

    In the current version of the TLR's Consumer Loan Report (CLR), the 
Fund does not collect information on the race and/or ethnicity of the 
borrower as well as impact of the consumer loans. These are necessary 
data points that the Fund needs to collect in order to assess 
compliance with the CDFI ERP Award Agreement. In addition, the existing 
CLR is set up for 2020 census tracts whereas CDFI ERP eligible 
geographies were based on 2010 census tracts. CDFI ERP recipients who 
are regulated entities with consumer loans that they want to count 
towards CDFI ERP will complete new CDFI ERP-Specific Consumer Loan 
Report (ERP CLR) in addition to the existing CLR. If a CDFI ERP 
Recipient who is a regulated entity does not want to count any consumer 
loans towards the CDFI ERP, then they will only complete the existing 
CLR. The new form's data points are listed below:

New CDFI ERP-Specific Consumer Loan Report Subtotal Breakout (ERP CLR)

[ssquf] Fiscal Year *
[ssquf] Census Vintage Year *
[ssquf] Purpose *
[ssquf] ERP 2010 Census Tract
[ssquf] ERP Total Originated Amount
[ssquf] ERP Total Originated Number
[ssquf] ERP OTP Amount
[ssquf] ERP OTP Number
[ssquf] ERP Race Amount (American Indian)
[ssquf] ERP Race Number (American Indian)
[ssquf] ERP Race Amount (Alaska Native)
[ssquf] ERP Race Number (Alaska Native)
[ssquf] ERP Race Amount (Asian)
[ssquf] ERP Race Number (Asian)
[ssquf] ERP Race Amount (Black or African American)
[ssquf] ERP Race Number (Black or African American)
[ssquf] ERP Race Amount (Native Hawaiian)
[ssquf] ERP Race Number (Native Hawaiian)
[ssquf] ERP Race Amount (Other Pacific Islander)
[ssquf] ERP Race Number (Other Pacific Islander)
[ssquf] ERP Race Amount (White)
[ssquf] ERP Race Number (White)
[ssquf] ERP Race Amount (Multi-Racial)
[ssquf] ERP Race Number (Multi-Racial)
[ssquf] ERP Race Amount (Other)
[ssquf] ERP Race Number (Other)
[ssquf] ERP Race Amount (Declined)
[ssquf] ERP Race Number (Declined)
[ssquf] ERP Hispanic Amount
[ssquf] ERP Hispanic Number
[ssquf] ERP Hispanic Amount Declined
[ssquf] ERP Hispanic Number Declined
[ssquf] ERP Impact Amount (Employment)
[ssquf] ERP Impact Number (Employment)
[ssquf] ERP Impact Amount (Healthcare)
[ssquf] ERP Impact Number (Healthcare)
[ssquf] ERP Impact Amount (Childcare)
[ssquf] ERP Impact Number (Childcare)
[ssquf] ERP Impact Amount (Housing Stability)
[ssquf] ERP Impact Number (Housing Stability)
[ssquf] ERP Impact Amount (Affordable Housing)
[ssquf] ERP Impact Number (Affordable Housing)
[ssquf] ERP Impact Amount (Broadband)
[ssquf] ERP Impact Number (Broadband)
[ssquf] ERP Impact Amount (Food Insufficiency)
[ssquf] ERP Impact Number (Food Insufficiency)
[ssquf] ERP Impact Amount (Business Disruption)
[ssquf] ERP Impact Number (Business Disruption)
[ssquf] ERP Impact Amount (Other)
[ssquf] ERP Impact Number (Other)
[ssquf] ERP Qualifying Native Transaction Amount
[ssquf] ERP Qualifying Native Transaction Number

    In the lists of data points above for CDFI ERP GLR and the ERP CLR, 
respectively, there are data points with asterisks indicating existing 
data points already reported in the current TLR and/or CLR. While these 
asterisked data points will be pulled into the new CDFI ERP GLR and the 
new ERP CLR, the properties of these existing data points are not being 
altered to fit any CDFI ERP reporting requirement.
    More details on the changes described above can be found in the 
updated guidance document available on the CDFI Fund website at https://www.cdfifund.gov/requests-for-comments.
    Type of Review: Regular Review.
    Affected Public: CDFIs including businesses or other for-profit 
institutions, non-profit entities, and State, local and Tribal entities 
participating in CDFI Fund programs.
    Estimated Number of Respondents:
    TLR (CDFI ERP related data points only), ERP CLR, and GLR: 603.
    Estimated Annual Time (in hours) per Respondent:
    TLR (CDFI ERP related data points only), ERP CLR, and GLR: 10.
    Estimated Total Annual Burden in Hours:
    TLR (CDFI ERP related data points only), ERP CLR and GLR: 6,030.
    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. Comments are invited on 
all aspects of the information collections, but commentators may wish 
to focus particular attention on: (a) whether the collection of 
information is necessary for the proper performance of the functions of 
the CDFI Fund, including whether the information shall have practical 
utility; (b) the accuracy of the CDFI Fund's estimate of the burden of 
the collection of information; (c) ways to enhance the quality, 
utility, and clarity of the information to be 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.
    Please note this request for public comment is restricted to the 
changes tied to recipient reporting in the TLR and its supporting 
objects from CDFI ERP Award Recipients.

Authority: 12 U.S.C. 4707 et seq.; 26 U.S.C. CFR part 1805.

Pravina Raghavan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2024-18769 Filed 8-21-24; 8:45 am]
BILLING CODE 4810-05-P