S 4879
117th Congress
Senate
Finance and Financial Sector
Banking and financial institutions regulation
Economic development
Expanding Financial Access for Underserved Communities Act
Introduced: September 19, 2022
Introduced by:
Padilla, Alex
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)
Sep 19, 2022
Introduced in Senate
Plain-English summary
Expanding Financial Access for Underserved Communities Act
This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.
The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)
Committees of jurisdiction
1