SENATE 2252118th CongressRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Promoting New and Diverse Depository Institutions Act

Last Action: 7/12/2023

Actions

2023-07-12Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2023-07-12Introduced in Senate

CRS Summary

As of 2023-07-12 (00)

Promoting New and Diverse Depository Institutions Act

This bill requires federal banking agencies to study and report on the challenges faced by entities attempting to become chartered depository institutions and to develop a strategic plan to assist in the application process. The strategic plan must (1) promote the chartering of minority depository institutions and entities that could be certified as community development financial institutions, and (2) describe actions to increase the number of depository institutions located in underserved areas.

Cosponsors (3)

Tina Smith (D-MN)
Elizabeth Warren (D-MA)
Raphael Warnock (D-GA)

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