House Bill 7003
117th Congress(2021-2022)
Expanding Financial Access for Underserved Communities Act
Introduced
Introduced in House on Mar 8, 2022
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7003
Congress
117
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Expanding Financial Access for Underserved Communities Act
This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.
The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.
06/07/2022
Placed on the Union Calendar, Calendar No. 265.
06/07/2022
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-351.
05/17/2022
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 27 - 22.
05/17/2022
Committee Consideration and Mark-up Session Held.
03/08/2022
Referred to the House Committee on Financial Services.
03/08/2022
Introduced in House
Public Record
Record Updated
Dec 5, 2023 10:26:21 AM