H.R. 1711
Referred to CommitteeFinancial Inclusion in Banking Act of 2021
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
5/19/2021 • Senate
Summary
Financial Inclusion in Banking Act of 2021
This bill expands the duties of the Office of Community Affairs within the Consumer Financial Protection Bureau regarding under-banked, un-banked, and underserved consumers. Specifically, the office must (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.
The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)
Passed House • 5/18/2021
Topics & Subjects
CBO Cost Estimates (2)
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 1711, the Financial Inclusion in Banking Act of 2021, as Amended
As Posted on the Website of the Clerk of the House on May 14, 2021
Published: May 18, 2021
Statutory Pay-As-You-Go Effects of H.R. 1711, the Financial Inclusion in Banking Act of 2021, as Amended
As Posted on the Website of the Clerk of the House on May 14, 2021
Published: May 18, 2021
Congressional Votes (0)
No recorded votes yet
Roll call votes will appear here as the bill moves through Congress
Related Federal Spending
Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the House
Introduced
March 9, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, 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.
Committee Review
Floor Debate
May 18, 2021
Passed Chamber
May 18, 2021
Other Chamber
President
Enacted into Law