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HR 1699 103th Congress House

Community Banking and Economic Empowerment Act

Official title: To provide assistance to community development lending institutions to increase the availability of credit to low-income families and for economic and communit… Show full official titleShow less

Official title: To provide assistance to community development lending institutions to increase the availability of credit to low-income families and for economic and community development and other activities in low-income neighborhoods, and for other purposes.

Introduced: April 5, 1993 Introduced by: Waters, Maxine Democratic · California See on congress.gov
Finance and Financial Sector Bank capitalBank examinationBank loansBank management
More subjectsShow fewer subjects
Bank recordsBank reservesCommunity development bankingCommunity development corporationsConsumer creditCredit unionsDepressed areasEmployee selectionFederal aid to community developmentHousing and Community DevelopmentHousing financeLabor and EmploymentLow-income housingPoorVenture capital
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This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 1993
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Apr 15, 1993
Referred to the Subcommittee on Housing and Community Development.
Apr 15, 1993
Referred to the Subcommittee on Consumer Credit and Insurance.
Apr 15, 1993
Referred to the Subcommittee on Economic Growth and Credit Formation.
Apr 5, 1993
Referred to the House Committee on Banking, Finance + Urban Affrs.
Apr 5, 1993
Introduced in House
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 Latest action April 15, 1993

Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.

 Plain-English summary Congressional Research Service

Community Banking and Economic Empowerment Act - Directs the Secretary of Housing and Urban Development (the Secretary) to provide capital, operating, and technical assistance to community development lenders and certain eligible entities in order to: (1) make credit-related services available to low-income persons inadequately served by traditional lending institutions; and (2) promote development and revitalization of low-income neighborhoods.

Delineates the purposes for which the Secretary may provide assistance to community development lenders and to the eligible entities establishing those lenders. Prescribes guidelines for assisted community development lenders, including assistance agreements, auditing procedures, and educational programs.

Directs the Board of Governors of the Federal Reserve System to ensure the availability of funds for community development banks and to submit to the Congress recommendations for increased liquidity lending to such banks by the Federal reserve banks.

Amends the Community Reinvestment Act to preclude a regulated financial institution from receiving either an "outstanding" or a "satisfactory" rating for meeting community credit needs solely on the basis of its loans or investments in community development lenders.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 5
 Cosponsors 1
All 1 Democratic 1
D
Norton, Eleanor Holmes
District of Columbia · Apr 5, 1993
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1699: Community Banking and Economic Empowerment Act. 103rd Congress. Open America. https://openamerica.io/bill/103-HR-1699/
MLA
"H.R. 1699: Community Banking and Economic Empowerment Act." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-HR-1699/.
Bluebook (legal)
H.R. 1699, 103rd Cong. (2026), https://openamerica.io/bill/103-HR-1699/.
Markdown link
[H.R. 1699: Community Banking and Economic Empowerment Act](https://openamerica.io/bill/103-HR-1699/)
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