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H.R. 8721 116th Congress House

Public Banking Act of 2020

Official title: To provide for the Federal charter of certain public banks, and for other purposes.

Introduced: October 30, 2020 Introduced by: Rashida Tlaib Democratic · Michigan See on congress.gov
Finance and Financial Sector Air qualityBank accounts, deposits, capitalBusiness expensesBusiness records
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Civil actions and liabilityClimate change and greenhouse gasesConsumer creditCorporate finance and managementCredit and credit marketsCurrencyDigital mediaFederal Reserve SystemFinancial services and investmentsGovernment corporations and government-sponsored enterprisesHousing and community development fundingInsurance industry and regulationInterest, dividends, interest ratesLicensing and registrationsOil and gasSecuritiesU.S. Postal ServiceUser charges and feesWages and earnings
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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
Oct 30, 2020
Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Reform, 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.
Oct 30, 2020
Introduced in House
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 Latest action October 30, 2020

Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Reform, 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.

 Plain-English summary Congressional Research Service

Public Banking Act of 2020

This bill provides for the establishment of public banks. Among other things, the bill

  • allows public banks to become members of the Federal Reserve;
  • establishes loan facilities for public banks;
  • prohibits the investment in fossil fuels by public banks;
  • allows for the establishment of securities issued by public banks;
  • provides for the establishment of public banks at U.S. post offices; and
  • provides grants for the formation, chartering, and capitalization of public banks.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 9
All 9 Democratic 7
Blumenauer, Earl
· Oct 30, 2020
 D
Green, Al
Texas · Oct 30, 2020
 D
Jayapal, Pramila
Washington · Oct 30, 2020
Lee, Barbara
· Oct 30, 2020
 D
Ocasio-Cortez, Alexandria
New York · Oct 30, 2020
 D
Omar, Ilhan
Minnesota · Oct 30, 2020
 D
Pressley, Ayanna
Massachusetts · Oct 30, 2020
 D
Schakowsky, Janice D.
Illinois · Oct 30, 2020
 D
Thompson, Bennie G.
Mississippi · Oct 30, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 8721: Public Banking Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-8721/
MLA
"H.R. 8721: Public Banking Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-8721/.
Bluebook (legal)
H.R. 8721, 116th Cong. (2026), https://openamerica.io/bill/116-HR-8721/.
Markdown link
[H.R. 8721: Public Banking Act of 2020](https://openamerica.io/bill/116-HR-8721/)
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