H.R. 4590 · 117th Congress
Promoting New and Diverse Depository Institutions Act
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 117th Congress ended.
D
AuchinclossSponsor5 cosponsors · 3 D, 2 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Jul 21, 2021
- House Passed Jul 26, 2022
This bill requires federal banking agencies to study and report on the challenges faced by entities attempting to become chartered depository institutions and to develop a strategic plan to assist in the application process.
What it does: CRS summary · Passed House · Jul 26, 2022
Promoting New and Diverse Depository Institutions Act
This bill requires federal banking agencies to study and report on the challenges faced by entities attempting to become chartered depository institutions and to develop a strategic plan to assist in the application process. The strategic plan must (1) promote the chartering of minority depository institutions and entities that could be certified as community development financial institutions, and (2) describe actions to increase the number of depository institutions located in underserved areas.
The bill also decreases, beginning September 30, 2022, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Promoting New and Diverse Depository Institutions Act
Latest action (Jul 27, 2022): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 21, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Jul 21, 2021
- House Passed Jul 26, 2022
No recorded floor vote found.