Public Banking Act of 2023

3.0.0 6775 2025-02-04T16:54:13Z 2025-02-04T16:54:13Z House H HR 2023-12-13 118 <pre>[Congressional Record Volume 169, Number 205 (Wednesday, December 13, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Ms. TLAIB:H.R. 6775.Congress has the power to enact this legislation pursuantto the following:This bill provides for the Federal charter of certainpublic banks, and for other purposes.Article 1, Section 1 of the Constitution.The single subject of this legislation is:[Page H6943]</pre> hsif00 Energy and Commerce Committee House Standing hsif03 Energy Subcommittee Referred to 2023-12-15T16:26:39Z Referred To 2023-12-13T15:02:20Z hswm00 Ways and Means Committee House Standing Referred To 2023-12-13T15:02:15Z hsgo00 Oversight and Government Reform Committee House Standing Referred To 2023-12-13T15:02:10Z hsba00 Financial Services Committee House Standing Referred To 2023-12-13T15:02:05Z 2023-12-15 hsif03 Energy Subcommittee 1 House committee actions Referred to the Subcommittee on Energy, Climate and Grid Security. Committee 2023-12-13 Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Accountability, Ways and Means, and Energy and Commerce, 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 hsif00 Energy and Commerce Committee 2023-12-13 Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Accountability, Ways and Means, and Energy and Commerce, 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 2023-12-13 Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Accountability, Ways and Means, and Energy and Commerce, 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 hsgo00 Oversight and Government Reform Committee 2023-12-13 Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Accountability, Ways and Means, and Energy and Commerce, 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 2023-12-13 Sponsor introductory remarks on measure. (CR H6865) IntroReferral B00100 9 Library of Congress 2023-12-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-12-13 Introduced in House IntroReferral 1000 9 Library of Congress T000481 Rep. Tlaib, Rashida [D-MI-12] Rashida Tlaib D MI 12 N O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 2023-12-13 True P000617 Rep. Pressley, Ayanna [D-MA-7] Ayanna Pressley D MA 7 2023-12-13 True L000551 Rep. Lee, Barbara [D-CA-12] BARBARA LEE D CA 12 2023-12-13 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2023-12-13 True O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 2023-12-13 True C001131 Rep. Casar, Greg [D-TX-35] Greg Casar D TX 35 2024-01-03 False J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2024-03-11 False Finance and Financial Sector Air quality 2024-11-21T01:42:30Z Bank accounts, deposits, capital 2024-11-21T01:42:30Z Business expenses 2024-11-21T01:42:34Z Business records 2024-11-21T01:42:34Z Civil actions and liability 2024-11-21T01:42:34Z Climate change and greenhouse gases 2024-11-21T01:42:34Z Consumer credit 2024-11-21T01:42:34Z Corporate finance and management 2024-11-21T01:42:34Z Credit and credit markets 2024-11-21T01:42:34Z Currency 2024-11-21T01:42:34Z Digital media 2024-11-21T01:42:34Z Federal Reserve System 2024-11-21T01:42:34Z Financial services and investments 2024-11-21T01:42:39Z Government corporations and government-sponsored enterprises 2024-11-21T01:42:39Z Housing and community development funding 2024-11-21T01:42:39Z Insurance industry and regulation 2024-11-21T01:42:30Z Interest, dividends, interest rates 2024-11-21T01:42:30Z Licensing and registrations 2024-11-21T01:42:30Z Oil and gas 2024-11-21T01:42:30Z Securities 2024-11-21T01:42:30Z U.S. Postal Service 2024-11-21T01:42:30Z User charges and fees 2024-11-21T01:42:30Z Wages and earnings 2024-11-21T01:42:30Z Finance and Financial Sector 2024-01-19T17:15:19Z

00 2023-12-13 Introduced in House 2024-08-06T12:27:08Z Public Banking Act of 2023This bill allows for the federal charter of public banks (i.e., banks that are wholly owned and controlled by a state, tribe, or local government).Under the bill, the Board of Governors of the Federal Reserve System must charter public banks or recognize non-federally chartered banks if they meet certain criteria. These public banks are eligible for membership in the Federal Reserve System. The Federal Reserve must offer specified services to member public member banks, including grants, payment accounts, digital dollar services, and facilities for credit, loans, and liquidity.These public banks must have a democratic governance structure, establish an environmental policy, and comply with certain lending policies. For example, these public banks must require that loan recipients do not oppose or resist unionization efforts involving projects that utilize public funds. Public banks under the bill are also prohibited from providing financial services to certain companies, including those that (1) support specified industries such as gun manufacturers or fossil fuel producers; (2) have unfair or unsafe labor practices; or (3) have a history of tax avoidance. The bill also requires the establishment of a regulatory framework for the federal recognition of securities issued by public banks.The Federal Deposit Insurance Corporation must provide unlimited deposit insurance to federally recognized public banks.The United States Postal Service must partner with these public banks to provide account and payment services at post offices.

Public Banking Act of 2023 Display Title 45 Public Banking Act of 2023 2024-06-11T15:11:29Z Short Title(s) as Introduced 101 Public Banking Act of 2023 2024-05-24T13:35:01Z Introduced in House IH Official Title as Introduced 6 To provide for the Federal charter of certain public banks, and for other purposes. 2024-03-18T22:01:16Z Introduced in House IH Introduced in House 2023-12-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr6775ih/xml/BILLS-118hr6775ih.xml 2023-12-15 Referred to the Subcommittee on Energy, Climate and Grid Security. 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.