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S 3562 117th Congress Senate Finance and Financial Sector

Minority Depository Institution and Community Bank Deposit Access Act of 2022

Introduced: February 2, 2022 Introduced by: Scott, Tim Republican · South Carolina 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
Feb 2, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 2, 2022
Introduced in Senate
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 Plain-English summary Congressional Research Service

Minority Depository Institution and Community Bank Deposit Access Act of 2022

This bill specifies that certain custodial deposits at eligible institutions shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party. Among other requirements, the bill provides that an eligible institution includes small depository institutions, community development financial institutions, and minority depository institutions.

Additionally, the bill specifies that only low-income credit unions and minority depository institutions that are federally insured credit unions are eligible for certain community development revolving loans.

What's happening now February 2, 2022

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

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Hassan, Margaret Wood
New Hampshire · Feb 2, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3562: Minority Depository Institution and Community Bank Deposit Access Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-S-3562/
MLA
"S. 3562: Minority Depository Institution and Community Bank Deposit Access Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-3562/.
Bluebook (legal)
S. 3562, 117th Cong. (2026), https://openamerica.io/bill/117-S-3562/.
Markdown link
[S. 3562: Minority Depository Institution and Community Bank Deposit Access Act of 2022](https://openamerica.io/bill/117-S-3562/)
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