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HR 5322 116th Congress House Finance and Financial Sector Advisory bodies Bank accounts, deposits, capital Banking and financial institutions regulation Business investment and capital Business records Congressional oversight Credit and credit markets Economic development Financial literacy Financial services and investments Government information and archives Government lending and loan guarantees Housing and community development funding Interest, dividends, interest rates Minority and disadvantaged businesses Minority employment Small business Women in business Women's employment

Ensuring Diversity in Community Banking Act

Introduced: December 5, 2019 Introduced by: Meeks, Gregory W. Democratic · New York See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 22, 2020
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 21, 2020
Motion to reconsider laid on the table Agreed to without objection.
Sep 21, 2020
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4597-4600)
Sep 21, 2020
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Sep 21, 2020
DEBATE - The House proceeded with forty minutes of debate on H.R. 5322.
Sep 21, 2020
Considered under suspension of the rules. (consideration: CR H4597-4602)
Sep 21, 2020
Mr. Sherman moved to suspend the rules and pass the bill, as amended.
Dec 11, 2019
Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
Dec 11, 2019
Committee Consideration and Mark-up Session Held.
Dec 10, 2019
Committee Consideration and Mark-up Session Held.
Dec 5, 2019
Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 5, 2019
Introduced in House
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 Plain-English summary Congressional Research Service

Ensuring Diversity in Community Banking Act

This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks.

(Sec. 4) The bill expands the definition of minority depository institutions to include women-owned banks. It also establishes impact banks as depository institutions with total assets less than $10 billion and where a certain total dollar value of loans are extended to low-income borrowers.

(Sec. 6) The bill creates Minority Depository Institutions Advisory Committees at the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The committees must provide advice to their respective entities regarding preservation of the number and character of minority-owned institutions and the creation of new institutions.

(Sec. 8) The bill establishes the Minority Bank Deposit Program to prioritize the use of minority depository institutions to hold the deposits of federal departments and agencies.

(Sec. 10) The bill sets forth the threshold of controlling shares with respect to minority depository institutions and impact banks. It also allows new minority depository institutions and impact banks to take three years to meet initial capital requirements.

(Sec. 12) The bill establishes a program allowing minority depository institutions and impact banks to apply to receive deposits from certain Treasury accounts.

(Sec. 13) The Federal Deposit Insurance Corporation must evaluate certain applications for deposit insurance for eligibility as a community development financial institution.

(Sec. 14) The Small Business Administration must establish a task force on lending to small business concerns by improving relationships with community development financial institutions, minority depository institutions, and impact banks.

(Sec. 15) The bill also decreases, beginning September 30, 2030, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

What's happening now September 22, 2020

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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  • S 5065 Related bill Economic Justice Act
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 6
All 6 Democratic 5
D
Khanna, Ro
California · Jun 18, 2020
 D
Beatty, Joyce
Ohio · Dec 5, 2019
CLAY, WM.
· Dec 5, 2019
 D
Cleaver, Emanuel
Missouri · Dec 5, 2019
 D
Green, Al
Texas · Dec 5, 2019
 D
Tlaib, Rashida
Michigan · Dec 5, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5322: Ensuring Diversity in Community Banking Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-5322/
MLA
"H.R. 5322: Ensuring Diversity in Community Banking Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-5322/.
Bluebook (legal)
H.R. 5322, 116th Cong. (2026), https://openamerica.io/bill/116-HR-5322/.
Markdown link
[H.R. 5322: Ensuring Diversity in Community Banking Act](https://openamerica.io/bill/116-HR-5322/)
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