To require the Federal banking regulators to jointly conduct a study and develop a strategic plan to address challenges faced by proposed depository institutions seeking de novo depository institution charters; and for other purposes.
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.)
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-229.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-229.
Placed on the Union Calendar, Calendar No. 163.
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H7150-7152)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4590.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7150-7151)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7150-7151)
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.