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HR 8410 116th Congress House Finance and Financial Sector Administrative law and regulatory procedures Agricultural prices, subsidies, credit Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Credit and credit markets Financial services and investments Government information and archives Government studies and investigations Rural conditions and development

Promoting Access to Capital in Underbanked Communities Act of 2020

Introduced: September 29, 2020 Introduced by: Barr, Andy Republican · Kentucky 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2020
Referred to the House Committee on Financial Services.
Sep 29, 2020
Introduced in House
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 Plain-English summary Congressional Research Service

Promoting Access to Capital in Underbanked Communities Act of 2020

This bill eliminates and reduces certain requirements applicable to new financial institutions, certain rural community banks, and federal savings associations.

Federal banking agencies must issue rules allowing new financial institutions three years to meet capital requirements. During this period, a financial institution may request to deviate from an approved business plan and the appropriate agency has 30 days to approve or deny the request.

The community bank leverage ratio—a way of evaluating debt levels—is reduced for certain rural community banks. Specifically, new rural community banks must have a ratio of 8%, with a three-year phase-in of the rate. Currently, the ratio must not be less than 8% and not more than 10%.

The bill removes certain restrictions to allow federal savings associations to invest in, sell, or otherwise deal in agricultural loans.

What's happening now September 29, 2020

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 1
R
Steil, Bryan
Wisconsin · Sep 30, 2020
Stivers, Steve
· Sep 29, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 8410: Promoting Access to Capital in Underbanked Communities Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-8410/
MLA
"H.R. 8410: Promoting Access to Capital in Underbanked Communities Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-8410/.
Bluebook (legal)
H.R. 8410, 116th Cong. (2026), https://openamerica.io/bill/116-HR-8410/.
Markdown link
[H.R. 8410: Promoting Access to Capital in Underbanked Communities Act of 2020](https://openamerica.io/bill/116-HR-8410/)
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