3.0.0 5322 2023-01-11T13:45:05Z 2023-01-11T13:45:05Z House HR 2019-12-05 116 [Congressional Record Volume 165, Number 194 (Thursday, December 5, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MEEKS:H.R. 5322.Congress has the power to enact this legislation pursuantto the following:Article I[Page H9295]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2020-09-22T22:39:56Z hsba00 Financial Services Committee House Standing Markup by 2019-12-11T16:18:30Z Referred to 2019-12-05T15:03:00Z hssm00 Small Business Committee House Standing Referred to 2019-12-05T15:03:05Z Workforce Emergency Response Act of 2020 116 6379 HR 2020-03-23 Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and 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. Related bill CRS Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act 116 6321 HR 2020-03-23 Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Small Business, the Judiciary, and Agriculture, 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. Related bill CRS Heroes Small Business Lifeline Act 116 4818 S 2020-12-10 Committee on Small Business and Entrepreneurship. Hearings held. Related bill CRS Economic Justice Act 116 5065 S 2020-12-18 Read twice and referred to the Committee on Finance. (text: CR S7713-7806) Related bill CRS 2020-09-22 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2020-09-21 16:15:39 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2020-09-21 16:15:36 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4597-4600) Floor H37300 2 House floor actions 2020-09-21 16:15:36 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. Floor 8000 9 Library of Congress 2020-09-21 16:01:30 DEBATE - The House proceeded with forty minutes of debate on H.R. 5322. Floor H8D000 2 House floor actions 2020-09-21 16:01:27 Considered under suspension of the rules. (consideration: CR H4597-4602) Floor H30000 2 House floor actions 2020-09-21 16:01:12 Mr. Sherman moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2019-12-11 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0. Committee 2019-12-11 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2019-12-10 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2019-12-05 Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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 hssm00 Small Business Committee 2019-12-05 Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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 2019-12-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-12-05 Introduced in House IntroReferral 1000 9 Library of Congress M001137 Rep. Meeks, Gregory W. [D-NY-5] GREGORY MEEKS D NY W. 5 N G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2019-12-05 True T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-12-05 True C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2019-12-05 True S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2019-12-05 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2019-12-05 True B001281 Rep. Beatty, Joyce [D-OH-3] Joyce Beatty D OH 3 2019-12-05 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2020-06-18 False 2020-09-21T16:38:00Z CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 5322, The Ensuring Diversity in Community Banking Act of 2019 https://www.cbo.gov/publication/56605 As Posted on the Website of the Clerk of the House on September 20, 2020https://docs.house.gov/billsthisweek/20200921/BILLS-116hr5322-SUSv2.pdf 2020-09-21T16:38:00Z Statutory Pay-As-You-Go Effects of H.R. 5322, The Ensuring Diversity in Community Banking Act of 2019 https://www.cbo.gov/publication/56605 As Posted on the Website of the Clerk of the House on September 20, 2020https://docs.house.gov/billsthisweek/20200921/BILLS-116hr5322-SUSv2.pdf Finance and Financial Sector Advisory bodies Bank accounts, deposits, capital Banking and financial institutions regulation Business investment and capital Business records Congressional oversight Credit and credit markets Economic development Financial literacy Financial services and investments Government information and archives Government lending and loan guarantees Housing and community development funding Interest, dividends, interest rates Minority and disadvantaged businesses Minority employment Small business Women in business Women's employment Finance and Financial Sector 00 2019-12-05 Introduced in House 2020-06-22T13:46:13Z Ensuring Diversity in Community Banking Act of 2019

This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks.

The bill (1) expands the definition of minority depository institutions to include women-owned banks, and (2) establishes impact banks as depository institutions with total assets less than $10 billion and where at least 50% of loans are extended to low-income borrowers.

The bill establishes a program allowing minority depository institutions and impact banks to receive deposits from certain Department of the Treasury accounts through designated custodial entities. It also establishes the Minority Bank Deposit Program to ensure the use of minority banks and minority credit unions to the maximum extent possible to serve the financial needs of federal departments and agencies.

Federal banking agencies must issue rules allowing new minority depository institutions and impact banks three years to meet capital requirements.

]]> 53 2020-09-21 Passed House 2021-01-06T19:26:42Z Ensuring Diversity in Community Banking Act

This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks.

(Sec. 4) The bill expands the definition of minority depository institutions to include women-owned banks. It also establishes impact banks as depository institutions with total assets less than $10 billion and where a certain total dollar value of loans are extended to low-income borrowers.

(Sec. 6) The bill creates Minority Depository Institutions Advisory Committees at the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The committees must provide advice to their respective entities regarding preservation of the number and character of minority-owned institutions and the creation of new institutions.

(Sec. 8) The bill establishes the Minority Bank Deposit Program to prioritize the use of minority depository institutions to hold the deposits of federal departments and agencies.

(Sec. 10) The bill sets forth the threshold of controlling shares with respect to minority depository institutions and impact banks. It also allows new minority depository institutions and impact banks to take three years to meet initial capital requirements.

(Sec. 12) The bill establishes a program allowing minority depository institutions and impact banks to apply to receive deposits from certain Treasury accounts.

(Sec. 13) The Federal Deposit Insurance Corporation must evaluate certain applications for deposit insurance for eligibility as a community development financial institution.

(Sec. 14) The Small Business Administration must establish a task force on lending to small business concerns by improving relationships with community development financial institutions, minority depository institutions, and impact banks.

(Sec. 15) The bill also decreases, beginning September 30, 2030, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

]]> Ensuring Diversity in Community Banking Act Display Title Ensuring Diversity in Community Banking Act Short Title(s) as Passed House Ensuring Diversity in Community Banking Act H House Engrossed in House EH Official Title as Introduced To establish or modify requirements relating to minority depository institutions, community development financial institutions, and impact banks, and for other purposes. Engrossed in House EH Short Titles as Passed House Ensuring Diversity in Community Banking Act H House Short Title(s) as Introduced Ensuring Diversity in Community Banking Act of 2019 Introduced in House IH Referred in Senate 2020-09-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr5322rfs/xml/BILLS-116hr5322rfs.xml Engrossed in House 2020-09-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr5322eh/xml/BILLS-116hr5322eh.xml Introduced in House 2019-12-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr5322ih/xml/BILLS-116hr5322ih.xml 2020-09-22 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.