summary
Introduced
11/04/2025
11/04/2025
In Committee
11/04/2025
11/04/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes.
AI Summary
This bill, known as the Community Investment and Prosperity Act, aims to increase the amount of investments that national banks and state member banks can make to promote public welfare. Specifically, the bill modifies two existing laws: the Revised Statutes and the Federal Reserve Act. In both laws, the bill changes the maximum percentage of capital and surplus that these banks can invest in public welfare projects from 15% to 20%. This means banks will have more flexibility to invest in community development, economic revitalization, affordable housing, and other initiatives designed to benefit local communities. By raising the investment cap, the bill seeks to encourage banks to play a more active role in supporting economic growth and social progress in underserved areas. The changes are relatively straightforward, focusing solely on increasing the percentage limit for these types of investments.
Committee Categories
Business and Industry
Sponsors (8)
Mike Lawler (R)*,
Joyce Beatty (D),
Sharice Davids (D),
Warren Davidson (R),
Josh Gottheimer (D),
Young Kim (R),
Sarah McBride (D),
Eugene Vindman (D),
Last Action
Referred to the House Committee on Financial Services. (on 11/04/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/5913/all-info |
| BillText | https://www.congress.gov/119/bills/hr5913/BILLS-119hr5913ih.pdf |
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