H.R. 7978 · 117th Congress
Promoting and Advancing Communities of Color Through Inclusive Lending Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WatersSponsorNo cosponsors.
Promoting and Advancing Communities of Color Through Inclusive Lending Act
What it does: CRS summary · Introduced in House · Jun 8, 2022
Promoting and Advancing Communities of Color Through Inclusive Lending Act
This bill expands the support of, and access to, community development financial institutions, minority lending intuitions, and minority depository institutions. These institutions provide financial services to economically distressed or minority communities.
The bill provides mandatory funding set-asides for assistance to minority lending institutions and establishes the Office of Minority Lending Institutions to administer these funds. The bill also establishes the Office of Diverse and Mission-Driven Community Financial Institutions to monitor and support institutions seeking certification.
Further, the bill provides for technology grants, a pilot program for establishing new institutions, and various studies and reports.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Promoting and Advancing Communities of Color Through Inclusive Lending Act
Latest action (Jun 8, 2022): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 8, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.