US HB41 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 24-0)
Status: Introduced on January 3 2019 - 25% progression, died in committee
Action: 2019-01-03 - Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 3 2019 - 25% progression, died in committee
Action: 2019-01-03 - Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes programs and requirements related to minority banks, black banks, community banks, women's banks, and low-income credit unions. The bill establishes the Office of Black and Community Banks in the Office of the Comptroller of the Currency (OCC) to oversee black and community banks. The OCC and the Securities and Exchange Commission must exempt these banks from specified securities and federal banking regulations in certain circumstances. The bill also establishes the Minority Bank Deposit Program. The Department of the Treasury must certify a depository institution or credit union upon successful application as a minority bank, a women's bank, or a low-income credit union. Every federal department and agency is directed to implement standards and procedures to ensure the use of such institutions to serve the financial needs of the department or agency. The Government Accountability Office must study the use of the new markets tax credit, lower-value home mortgages, and blockchain investments.
Title
RESCUE Act for Black and Community Banks Reenergized Economic Sustainability for Community and Urban Entities Act for Black and Community Banks
Sponsors
Rep. Bobby Rush [D-IL] | Rep. Yvette Clarke [D-NY] | Rep. Henry Johnson [D-GA] | Rep. Alexandria Ocasio-Cortez [D-NY] |
Rep. Bennie Thompson [D-MS] | Rep. Sheila Jackson-Lee [D-TX] | Rep. Ilhan Omar [D-MN] | Rep. Rashida Tlaib [D-MI] |
Rep. Raul Grijalva [D-AZ] | Rep. Steve Cohen [D-TN] | Rep. Alcee Hastings [D-FL] | Rep. Barbara Lee [D-CA] |
Rep. Marcia Fudge [D-OH] | Rep. Frederica Wilson [D-FL] | Rep. Marcy Kaptur [D-OH] | Rep. Pramila Jayapal [D-WA] |
Rep. Jim Cooper [D-TN] | Rep. Andre Carson [D-IN] | Rep. Danny Davis [D-IL] | Rep. Michael San Nicolas [D-GU] |
Rep. Ro Khanna [D-CA] | Rep. Donald Payne [D-NJ] | Rep. Darren Soto [D-FL] | Rep. Tony Cardenas [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2019-01-03 | House | Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
2019-01-03 | House | Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
2019-01-03 | House | Introduced in House |
Subjects
Administrative law and regulatory procedures
Advanced technology and technological innovations
Bank accounts, deposits, capital
Banking and financial institutions regulation
Congressional oversight
Credit and credit markets
Currency
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Housing finance and home ownership
Minority and disadvantaged businesses
Securities
Securities and Exchange Commission (SEC)
Advanced technology and technological innovations
Bank accounts, deposits, capital
Banking and financial institutions regulation
Congressional oversight
Credit and credit markets
Currency
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Housing finance and home ownership
Minority and disadvantaged businesses
Securities
Securities and Exchange Commission (SEC)
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/41/all-info |
Text | https://www.congress.gov/116/bills/hr41/BILLS-116hr41ih.pdf |