Community Impact Financial Institutions Inclusion Act of 2020 This bill allocates a certain portion of specified COVID-19 (i.e., coronavirus disease 2019) economic aid to finance loans originated by small financial institutions. Specifically, 20% of this aid must be allocated to community lenders, insured depository institutions, and credit unions with less than $10 billion in assets and 5% of this aid must be allocated to minority depository institutions and community development financial institutions with less than $10 billion in assets.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Banking and financial institutions regulationCardiovascular and respiratory healthCongressional oversightEmergency medical services and trauma careFederal Reserve SystemFinancial crises and stabilizationFinancial services and investmentsGovernment lending and loan guaranteesInfectious and parasitic diseases
Community Impact Financial Institutions Inclusion Act of 2020
USA116th CongressHR-6775| House
| Updated: 5/8/2020
Community Impact Financial Institutions Inclusion Act of 2020 This bill allocates a certain portion of specified COVID-19 (i.e., coronavirus disease 2019) economic aid to finance loans originated by small financial institutions. Specifically, 20% of this aid must be allocated to community lenders, insured depository institutions, and credit unions with less than $10 billion in assets and 5% of this aid must be allocated to minority depository institutions and community development financial institutions with less than $10 billion in assets.
Banking and financial institutions regulationCardiovascular and respiratory healthCongressional oversightEmergency medical services and trauma careFederal Reserve SystemFinancial crises and stabilizationFinancial services and investmentsGovernment lending and loan guaranteesInfectious and parasitic diseases