I 

117TH CONGRESS 

1ST SESSION H. R. 1711 

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 

MARCH 9, 2021 

Mr. DAVID SCOTT of Georgia introduced the following bill; which was 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 

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, unbanked, and underserved consumers, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Financial Inclusion 

5 in Banking Act of 2021’’. 


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1 SEC. 2. OFFICE OF COMMUNITY AFFAIRS DUTIES WITH RE2 SPECT TO UNDER-BANKED, UN-BANKED, AND 

3 UNDERSERVED CONSUMERS. 

4 Section 1013(b)(2) of the Consumer Financial Pro5 tection Act of 2010 (12 U.S.C. 5493(b)(2)) is amended— 

6 (1) by striking ‘‘The Director shall establish a 

7 unit’’ and inserting the following: 

8 ‘‘(A) IN GENERAL.—The Director shall es9 tablish a unit to be known as the ‘Office of 

10 Community Affairs’ ’’; and 

11 (2) by adding at the end the following: 

12 ‘‘(B) DUTIES RELATED TO UNDER13 BANKED, UN-BANKED, AND UNDERSERVED

14 CONSUMERS.— 

15 ‘‘(i) IN GENERAL.—The Office of 

16 Community Affairs shall— 

17 ‘‘(I) lead coordination of research 

18 to identify any causes and challenges 

19 contributing to the decision of individ20 uals who, and households that, do not 

21 initiate or maintain on-going and sus22 tainable relationships with depository 

23 institutions, including consulting with 

24 trade associations representing deposi25 tory institutions, trade associations 

26 representing minority depository instiVerDate Sep 11 2014 04:30 May 01, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1711.IH H1711

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1 tutions, organizations representing the 

2 interests of traditionally underserved 

3 consumers and communities, organi4 zations representing the interests of 

5 consumers (particularly low- and mod6 erate-income individuals), civil rights 

7 groups, community groups, consumer 

8 advocates, and the Consumer Advisory 

9 Board about this matter; 

10 ‘‘(II) identify subject matter ex11 perts within the Bureau to work on 

12 the issues identified under subclause 

13 (I); 

14 ‘‘(III) lead coordination efforts 

15 between other Federal departments 

16 and agencies to better assess the rea17 sons for the lack of, and help increase 

18 the participation of, under-banked, 

19 un-banked, and underserved con20 sumers in the banking system; and 

21 ‘‘(IV) identify and develop strate22 gies to increase financial education to 

23 under-banked, un-banked, and under24 served consumers. 


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1 ‘‘(ii) COORDINATION WITH OTHER BU2 REAU OFFICES.—In carrying out this para3 graph, the Office of Community Affairs 

4 shall consult with and coordinate with the 

5 research unit established under subsection 

6 (b)(1) and such other offices of the Bureau 

7 as the Director may determine appropriate. 

8 ‘‘(iii) REPORTING.— 

9 ‘‘(I) IN GENERAL.—The Office of 

10 Community Affairs shall submit a re11 port to Congress, within two years of 

12 the date of enactment of this subpara13 graph and every 2 years thereafter, 

14 that identifies any factors impeding 

15 the ability of, or limiting the option 

16 for, individuals or households to have 

17 access to fair, on-going, and sustain18 able relationships with depository in19 stitutions to meet their financial 

20 needs, discusses any regulatory, legal, 

21 or structural barriers to enhancing 

22 participation of under-banked, un23 banked, and underserved consumers 

24 with depository institutions, and con25 tains recommendations to promote 


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1 better participation for all consumers 

2 with the banking system. 

3 ‘‘(II) TIMING OF REPORT.—To 

4 the extent possible, the Office shall 

5 submit each report required under 

6 subclause (I) during a year in which 

7 the Federal Deposit Insurance Cor8 poration does not issue the report on 

9 encouraging use of depository institu10 tions by the unbanked required under 

11 section 49 of the Federal Deposit In12 surance Act.’’. 

13 SEC. 3. DISCRETIONARY SURPLUS FUNDS. 

14 (a) IN GENERAL.—The dollar amount specified 

15 under section 7(a)(3)(A) of the Federal Reserve Act (12 

16 U.S.C. 289(a)(3)(A)) is reduced by $10,000,000. 

17 (b) EFFECTIVE DATE.—The amendment made by 

18 subsection (a) shall take effect on September 30, 2029. 

19 SEC. 4. DETERMINATION OF BUDGETARY EFFECTS. 

20 The budgetary effects of this Act, for the purpose of 

21 complying with the Statutory Pay-As-You-Go Act of 2010, 

22 shall be determined by reference to the latest statement 

23 titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this 

24 Act, submitted for printing in the Congressional Record 

25 by the Chairman of the House Budget Committee, proVerDate Sep 11 2014 04:30 May 01, 2021 Jkt 019200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H1711.IH H1711

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1 vided that such statement has been submitted prior to the 

2 vote on passage. 

Æ 


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