S 4532
117th Congress
Senate
Finance and Financial Sector
Strengthening Community Business Development Act
Introduced: July 14, 2022
Introduced by:
Hassan, Margaret Wood
Democratic
· New Hampshire
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 14, 2022
Introduced in Senate
Plain-English summary
Strengthening Community Business Development Act
This bill expands the factors allowed to be considered by a supervising agency when evaluating a financial institution's compliance with community reinvestment standards. Specifically, the bill allows a supervising agency to consider the efforts of a financial institution that deny business loans to low- and moderate-income borrowers to refer these borrowers to community business development organizations or to provide these borrowers directly with business development resources.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1