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HR 7978 117th Congress House Finance and Financial Sector

Promoting and Advancing Communities of Color Through Inclusive Lending Act

Introduced: June 8, 2022 Introduced by: Waters, Maxine Democratic · California See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Jun 8, 2022
Referred to the House Committee on Financial Services.
Jun 8, 2022
Introduced in House
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 Plain-English summary Congressional Research Service

Promoting and Advancing Communities of Color Through Inclusive Lending Act

This bill expands the support of, and access to, community development financial institutions, minority lending intuitions, and minority depository institutions. These institutions provide financial services to economically distressed or minority communities.

The bill provides mandatory funding set-asides for assistance to minority lending institutions and establishes the Office of Minority Lending Institutions to administer these funds. The bill also establishes the Office of Diverse and Mission-Driven Community Financial Institutions to monitor and support institutions seeking certification.

Further, the bill provides for technology grants, a pilot program for establishing new institutions, and various studies and reports.

What's happening now June 8, 2022

Referred to the House Committee on Financial Services.

 Related & companion bills 1
  • HR 2543 Related bill Financial Services Racial Equity, Inclusion, and Economic Justice Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 7978: Promoting and Advancing Communities of Color Through Inclusive Lending Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7978/
MLA
"H.R. 7978: Promoting and Advancing Communities of Color Through Inclusive Lending Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7978/.
Bluebook (legal)
H.R. 7978, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7978/.
Markdown link
[H.R. 7978: Promoting and Advancing Communities of Color Through Inclusive Lending Act](https://openamerica.io/bill/117-HR-7978/)
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