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HR 7338 118th Congress House Finance and Financial Sector

Rural Credit Access Act of 2024

Introduced: February 13, 2024 Introduced by: Nunn, Zachary Republican · Iowa See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2024
Referred to the House Committee on Financial Services.
Feb 13, 2024
Introduced in House
 Plain-English summary Congressional Research Service

Rural Credit Access Act of 2024

This bill establishes an Office of the Community Development Advocate in the Community Development Financial Institutions Fund. The fund supports Community Development Financial Institutions (CDFIs), which provide financial services to low-income and underserved communities.

The office must ensure the safety and affordability of products and services provided by CDFIs to target populations and investment areas. The office must also collect and address complaints from financial institutions, facilitate coordination between the fund and federal banking agencies, and ensure institutions have access to technical assistance.

The bill also requires the establishment of a process for revoking a CDFI’s certification.

What's happening now February 13, 2024

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1