|
119th CONGRESS
1st Session |
To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes.
Mr. Lawler (for himself, Mrs. Beatty, and Mrs. Kim) introduced the following bill; which was referred to the Committee on Financial Services
To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Community Investment and Prosperity Act”.
SEC. 2. Investments to promote the public welfare.
(a) Revised Statutes.—The paragraph designated as the “Eleventh” of section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) is amended, in the fifth sentence, by striking “15” each place the term appears and inserting “20”.
(b) Federal Reserve Act.—The 23rd paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking “15” each place the term appears and inserting “20”.