[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4067 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 4067

 To amend the Consumer Financial Protection Act of 2010 to direct the 
    Office of Community Affairs to identify causes leading to, and 
solutions for, under-banked, un-banked, and underserved consumers, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 25, 2019

 Mr. David Scott of Georgia (for himself and Mr. Duffy) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Consumer Financial Protection Act of 2010 to direct the 
    Office of Community Affairs to identify causes leading to, and 
solutions for, under-banked, un-banked, and underserved consumers, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Inclusion in Banking Act 
of 2019''.

SEC. 2. OFFICE OF COMMUNITY AFFAIRS DUTIES WITH RESPECT TO UNDER-
              BANKED, UN-BANKED, AND UNDERSERVED CONSUMERS.

    Section 1013(b)(2) of the Consumer Financial Protection Act of 2010 
(12 U.S.C. 5493(b)(2)) is amended--
            (1) by striking ``The Director shall establish a unit'' and 
        inserting the following:
                    ``(A) In general.--The Director shall establish a 
                unit to be known as the `Office of Community 
                Affairs'''; and
            (2) by adding at the end the following:
                    ``(B) Duties related to under-banked, un-banked, 
                and underserved consumers.--
                            ``(i) In general.--The Office of Community 
                        Affairs shall--
                                    ``(I) lead coordination of research 
                                to identify any causes and challenges 
                                contributing to the decision of 
                                individuals who, and households that, 
                                do not initiate or maintain on-going 
                                and sustainable relationships with 
                                depository institutions, including 
                                consulting with trade associations 
                                representing minority depository 
                                institutions, organizations 
                                representing the interests of 
                                traditionally underserved consumers and 
                                communities, organizations representing 
                                the interests of consumers 
                                (particularly low- and moderate-income 
                                individuals), civil rights groups, 
                                community groups, consumer advocates, 
                                and the Consumer Advisory Board about 
                                this matter;
                                    ``(II) identify subject matter 
                                experts within the Bureau to work on 
                                the issues identified under subclause 
                                (I);
                                    ``(III) lead coordination efforts 
                                between other Federal departments and 
                                agencies to better assess the reasons 
                                for the lack of, and help increase the 
                                participation of, under-banked, un-
                                banked, and underserved consumers in 
                                the banking system; and
                                    ``(IV) shall identify and develop 
                                strategies to increase financial 
                                education to under-banked, un-banked, 
                                and underserved consumers.
                            ``(ii) Coordination with other bureau 
                        offices.--In carrying out this paragraph, the 
                        Office of Community Affairs shall consult with 
                        and coordinate with the research unit 
                        established under subsection (b)(1) and such 
                        other offices of the Bureau as the Director may 
                        determine appropriate.
                            ``(iii) Reporting.--
                                    ``(I) In general.--The Office of 
                                Community Affairs shall submit a report 
                                to Congress, within two years of the 
                                date of enactment of this subparagraph 
                                and every 2 years thereafter, that 
                                identifies any factors impeding the 
                                ability to, or limiting the option for, 
                                individuals or households to have 
                                access to fair, on-going, and 
                                sustainable relationships with 
                                depository institutions to meet their 
                                financial needs, discusses any 
                                regulatory, legal, or structural 
                                barriers to enhancing participation of 
                                under-banked, un-banked, and 
                                underserved consumers with depository 
                                institutions, and contains 
                                recommendations to promote better 
                                participation for all consumers with 
                                the banking system.
                                    ``(II) Timing of report.--To the 
                                extent possible, the Office shall 
                                submit each report required under 
                                subclause (I) during a year in which 
                                the Federal Deposit Insurance 
                                Corporation does not issue the report 
                                on encouraging use of depository 
                                institutions by the unbanked required 
                                under section 49 of the Federal Deposit 
                                Insurance Act.''.
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