Bill > HR7978

This bill aims to provide support for minority depository institutions, community development financial institutions, and minority lending institutions to promote and advance communities of color through inclusive lending. The key provisions of the bill include: - Establishing a set-aside of 40% of community development financial institution (CDFI) assistance for minority lending institutions, and creating an Office of Minority Lending Institutions within the CDFI Fund to oversee this assistance. - Requiring CDFIs to submit data on the racial, ethnic, gender, and veteran composition of their board of directors, board nominees, and executive officers, as well as any policies or strategies to promote diversity. - Establishing an Office of Diverse and Mission-Driven Community Financial Institutions within the Department of the Treasury to monitor these institutions, serve as a federal resource and liaison, and provide policy recommendations. - Authorizing $4 billion for the Emergency Capital Investment Program to provide capital investments, grants, and technology support to minority depository institutions and CDFIs. - Directing the Treasury Secretary to establish an interactive map of minority depository institutions and certified CDFIs, and requiring an enhanced annual report on certified CDFIs. - Allowing minority depository institutions and CDFIs access to the Federal Reserve's discount window at the seasonal credit interest rate. - Requiring a study on the use of securitization by CDFIs and any barriers or authorities related to it.

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https://www.congress.gov/bill/117th-congress/house-bill/7978/all-info