To amend the Federal Reserve Act to add additional demographic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes.
Financial Services Racial Equity, Inclusion, and Economic Justice Act
This bill address access to financial services, diversity in various financial institutions and establishments, and other related issues.
Access to credit, mortgages, and banking services are expanded, including by
The bill expands the support of, and access to, minority depository institutions and community development financial institutions and establishes an impact bank designation for small institutions that predominately lend to low-income borrowers.
Further, the Federal Reserve Board must carry out its duties in a manner that supports the elimination of racial and ethnic disparities in employment, income, wealth, and access to affordable credit.
Additionally, the bill requires financial institutions to report information relating to diversity policies and lending practices.
Retail businesses must accept cash as a form of payment for sales in amounts less than $2,000 and are prohibited from charging cash-paying customers a higher price.
Finally, the bill commissions various reports and studies, including a report from the Government Accountability Office on public housing for the homeless.
Placed on the Union Calendar, Calendar No. 263.
Placed on the Union Calendar, Calendar No. 164.
Rules Committee Resolution H. Res. 1170 Reported to House. Rule provides for consideration of H.R. 2543, H.R. 2773 and H.R. 7606. Resolution provides for one hour of general debate on each bill and one motion to recommit. Rule also amends House Resolution 188 by striking "June 17, 2022" and inserting "June 22, 2022".
Considered under the provisions of rule H. Res. 1170. (consideration: CR H5556-5591; text: CR H5556-5567)
Rule provides for consideration of H.R. 2543, H.R. 2773 and H.R. 7606. Resolution provides for one hour of general debate on each bill and one motion to recommit. Rule also amends House Resolution 188 by striking "June 17, 2022" and inserting "June 22, 2022".
DEBATE - The House proceeded with one hour of debate on H.R. 2543.
DEBATE - Pursuant to the provisions of H. Res. 1170, the House proceeded with 20 minutes of debate on the Al Green (TX) amendment en bloc No. 1.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Green (TX) amendment en bloc No. 1, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. McHenry demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 1170, the House proceeded with 20 minutes of debate on the Al Green (TX) amendment en bloc No. 2.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Green (TX) amendment en bloc No. 2, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Al Green (TX) demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Placed on the Union Calendar, Calendar No. 281.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.
Placed on the Union Calendar, Calendar No. 265.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Referred to the House Committee on Financial Services.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)
Referred to the House Committee on Financial Services.
Referred to the House Committee on Financial Services.
Referred to the House Committee on Energy and Commerce.
DEBATE - Pursuant to the provisions of H. Res. 1170, the House proceeded with 10 minutes of debate on the Vicente Gonzalez amendment No. 10.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Vicente Gonzalez amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Posey demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
DEBATE - Pursuant to the provisions of H. Res. 1170, the House proceeded with 10 minutes of debate on the Payne amendment No. 19.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Payne amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. McHenry demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
The previous question was ordered pursuant to the rule.
Mr. Hill moved to recommit to the Committee on Financial Services. (text: CR H5589)
The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
On motion to recommit Failed by the Yeas and Nays: 202 - 219 (Roll no. 274).
Roll Call #274 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 215 - 207 (Roll no. 275).
Roll Call #275 (House)On passage Passed by the Yeas and Nays: 215 - 207 (Roll no. 275).
Roll Call #275 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.