3.0.0 154 2023-01-11T13:43:41Z 2023-01-11T13:43:41Z House HR 2021-01-04 117 [Congressional Record Volume 167, Number 2 (Monday, January 4, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. RUSH:H.R. 154.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H55]]]> hswm00 Ways and Means Committee House Standing Referred to 2021-01-04T15:16:05Z hsba00 Financial Services Committee House Standing Referred to 2021-01-04T15:16:00Z 2021-01-04 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 2021-01-04 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 2021-01-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-01-04 Introduced in House IntroReferral 1000 9 Library of Congress R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 N C001072 Rep. Carson, Andre [D-IN-7] Andre Carson D IN 7 2021-01-04 True C001067 Rep. Clarke, Yvette D. [D-NY-9] Yvette Clarke D NY D. 9 2021-01-04 True C000754 Rep. Cooper, Jim [D-TN-5] JAMES COOPER D TN H. 5 2021-01-04 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2021-01-04 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2021-01-04 True L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 2021-01-25 False O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 2021-03-09 False Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Advanced technology and technological innovations Banking and financial institutions regulation Computers and information technology Department of the Treasury Government Accountability Office (GAO) Government information and archives Government studies and investigations Housing finance and home ownership Income tax credits Minority and disadvantaged businesses Racial and ethnic relations Securities and Exchange Commission (SEC) Women in business Finance and Financial Sector 00 2021-01-04 Introduced in House 2021-02-05T18:56:42Z 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 2021-01-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr154ih/xml/BILLS-117hr154ih.xml 2021-01-04 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.