3.0.0 41 2022-11-01T13:49:33Z 2022-11-01T13:49:33Z House HR 2019-01-03 116 [Congressional Record Volume 165, Number 1 (Thursday, January 3, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. RUSH:H.R. 41.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1: ``The Congress shall havepower to . . . provide for the . . . general welfare of theUnited States . . .'';Article I, Section 8, Clause 3: The Congress shall havepower ``To regulate commerce with foreign nations, and amongthe several states, and with the Indian tribes;'' andArticle I, Section 8, Clause 18: The Congress shall havepower ``To make all laws which shall be necessary and properfor carrying into execution the foregoing powers, and allother powers vested by this Constitution in the government ofthe United States, or in any department or officer thereof.''[Page H212]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-01-03T16:21:20Z hsba00 Financial Services Committee House Standing Referred to 2019-01-03T16:21:15Z 2019-01-03 Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-01-03 Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-01-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-01-03 Introduced in House IntroReferral 1000 9 Library of Congress R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 N C001067 Rep. Clarke, Yvette D. [D-NY-9] Yvette Clarke D NY D. 9 2019-04-01 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2019-04-01 False O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 2019-04-01 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2019-04-08 False J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2019-04-08 False O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 2019-04-09 False T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-04-15 False G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2019-04-25 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2019-05-01 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2019-07-09 False L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 2019-07-09 False F000455 Rep. Fudge, Marcia L. [D-OH-11] Marcia Fudge D OH L. 11 2019-10-04 False W000808 Rep. Wilson, Frederica S. [D-FL-24] Frederica Wilson D FL S. 24 2019-12-04 False K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 2020-01-03 False J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2020-02-25 False C000754 Rep. Cooper, Jim [D-TN-5] JAMES COOPER D TN H. 5 2020-07-13 False C001072 Rep. Carson, Andre [D-IN-7] Andre Carson D IN 7 2020-07-13 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2020-07-13 False S001204 Del. San Nicolas, Michael F. Q. [D-GU-At Large] Michael San Nicolas D GU F. Q. 0 2020-07-21 False K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2020-08-21 False P000604 Rep. Payne, Donald M., Jr. [D-NJ-10] Donald Payne D NJ M. 10 2020-09-22 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2020-09-22 False C001097 Rep. Cárdenas, Tony [D-CA-29] Tony Cárdenas D CA 29 2020-10-09 False Finance and Financial Sector Administrative law and regulatory procedures Advanced technology and technological innovations Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Credit and credit markets Currency Financial services and investments Government information and archives Government studies and investigations Housing finance and home ownership Minority and disadvantaged businesses Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2019-01-03 Introduced in House 2020-05-08T15:25:42Z Reenergized Economic Sustainability for Community and Urban Entities Act for Black and Community Banks or the RESCUE Act for Black and Community Banks

This bill establishes programs and requirements related to minority banks, black banks, community banks, women's banks, and low-income credit unions.

The bill establishes the Office of Black and Community Banks in the Office of the Comptroller of the Currency (OCC) to oversee black and community banks. The OCC and the Securities and Exchange Commission must exempt these banks from specified securities and federal banking regulations in certain circumstances.

The bill also establishes the Minority Bank Deposit Program. The Department of the Treasury must certify a depository institution or credit union upon successful application as a minority bank, a women's bank, or a low-income credit union. Every federal department and agency is directed to implement standards and procedures to ensure the use of such institutions to serve the financial needs of the department or agency.

The Government Accountability Office must study the use of the new markets tax credit, lower-value home mortgages, and blockchain investments.

]]> RESCUE Act for Black and Community Banks Display Title RESCUE Act for Black and Community Banks Official Title as Introduced To provide regulatory relief for Black and community banks, to codify the Minority Bank Deposit Program, and for other purposes. Introduced in House IH Short Title(s) as Introduced RESCUE Act for Black and Community Banks Introduced in House IH Short Title(s) as Introduced Reenergized Economic Sustainability for Community and Urban Entities Act for Black and Community Banks Introduced in House IH Introduced in House 2019-01-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr41ih/xml/BILLS-116hr41ih.xml 2019-01-03 Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.