was established by the Riegle Community Development and Regulatory Improvement Act of 1994. The mission of the CDFI Fund is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers . As of July 13, 2020, there were 1,129 certified CDFIs in all 50 States, District of Columbia, Guam, and Puerto Rico. (7) Following the 2008 financial crisis and the disproportionate impact the Great Recession had on minority communities, the number of MDI banks fell more than 30 percent over the following decade, to 143 as of the first quarter of 2020. Meanwhile, MDI credit unions have seen similar declines, with more than one-third of such institutions disappearing since 2013. (8) The Committee on Financial Services of the House of Representatives has examined the importance of CDFIs and MDIs through three hearings held during the 116th Congress. At these hearings, the Committee received testimony from 13 witnesses, most of whom were representatives of CDFIs or MDIs, and four of whom were Federal regulators. These hearings include: (A) October 22, 2019, An Examination of the Decline of Minority Depository Institutions and the Impact on Underserved Communities . (B) November 20, 2019, An Examination of Regulators’ Efforts to Preserve and Promote Minority Depository Institutions . (C) June 3, 2020, Virtual Hearing— Promoting Inclusive Lending During the Pandemic: Community Development Financial Institutions and Minority Depository Institutions . At these hearings, the Committee discussed the opportunities and challenges facing CDFIs and MDIs. The Committee discussed 9 different pieces of legislation to address some of these challenges and fully support the work of MDIs and CDFIs. (b) Sense of Congress The following is the sense of the Congress: (1) The Department of the Treasury, Board of Governors of the Federal Reserve System, Small Business Administration (SBA), Office of the