H.R. 7338 · 118th Congress
Rural Credit Access Act of 2024
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
(Zach) NunnSponsor3 cosponsors · 2 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes an Office of the Community Development Advocate in the Community Development Financial Institutions Fund. The fund supports Community Development Financial Institutions (CDFIs), which provide financial services to low-income and underserved communities.
What it does: CRS summary · Introduced in House · Feb 13, 2024
Rural Credit Access Act of 2024
This bill establishes an Office of the Community Development Advocate in the Community Development Financial Institutions Fund. The fund supports Community Development Financial Institutions (CDFIs), which provide financial services to low-income and underserved communities.
The office must ensure the safety and affordability of products and services provided by CDFIs to target populations and investment areas. The office must also collect and address complaints from financial institutions, facilitate coordination between the fund and federal banking agencies, and ensure institutions have access to technical assistance.
The bill also requires the establishment of a process for revoking a CDFI’s certification.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Rural Credit Access Act of 2024
Latest action (Feb 13, 2024): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 13, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.