Promoting New and Diverse Depository Institutions Act
USA117th CongressHR-4590| House
| Updated: 7/27/2022
Jake Auchincloss
Democratic Representative
Massachusetts
Cosponsors (5)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.)
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 163.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-229.
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.
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.
Finance and Financial Sector
Banking and financial institutions regulationFinancial services and investmentsGovernment information and archivesGovernment studies and investigationsMinority and disadvantaged businesses
Promoting New and Diverse Depository Institutions Act
USA117th CongressHR-4590| House
| Updated: 7/27/2022
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.)
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 163.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-229.
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.
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.
Jake Auchincloss
Democratic Representative
Massachusetts
Cosponsors (5)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Banking and financial institutions regulationFinancial services and investmentsGovernment information and archivesGovernment studies and investigationsMinority and disadvantaged businesses