I 

112TH CONGRESS 

1ST SESSION H. R. 1662 

To encourage financial institutions to meet the needs of borrowers in lowto moderate-income communities, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 15, 2011 

Mr. WEINER introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To encourage financial institutions to meet the needs of 

borrowers in low- to moderate-income communities, 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 ‘‘Bank Accessibility 

5 Act’’. 

6 SEC. 2. FINANCIAL INSTITUTION INVOLVEMENT WITH LOW7 INCOME BORROWERS AND COMMUNITIES. 

8 (a) ADDITIONAL FACTORS.—Section 804 of the Com9 munity Reinvestment Act of 1977 (12 U.S.C. 2903) is 

10 amended by adding at the end the following: 


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1 ‘‘(e) BRANCH DISTRIBUTION AND SERVICES IN LOW2 TO MODERATE-INCOME COMMUNITIES.—In assessing and 

3 taking into account, under subsection (a), the record of 

4 a financial institution, the appropriate Federal financial 

5 supervisory agency shall consider as factors— 

6 ‘‘(1) the branch distribution of such institutions 

7 in low- to moderate-income communities; and 

8 ‘‘(2) the services provided to borrowers in such 

9 communities by such institutions, including— 

10 ‘‘(A) checking and savings accounts with 

11 no monthly fee, low or no minimum balance re12 quirements, and no overdraft or insufficient 

13 funds fees; 

14 ‘‘(B) free check cashing; 

15 ‘‘(C) debit card and ATM services; and 

16 ‘‘(D) low or no fee money order and wire 

17 transfers.’’. 

18 (b) EFFECT ON RATING.—Section 807(b) of such Act 

19 (12 U.S.C. 2906(b)) is amended by adding at the end the 

20 following: 

21 ‘‘(3) FACTORS CONSIDERED.—The consider22 ation of the factors described in section 804(e) shall 

23 be weighted to account for approximately 33 percent 

24 of the institution’s rating referred to in paragraph 

25 (1)(A)(iii).’’. 


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1 SEC. 3. REGULATIONS. 

2 (a) IN GENERAL.—The appropriate Federal financial 

3 supervisory agency shall prescribe regulations that, in the 

4 case of any regulated financial institution that receives a 

5 low rating (as determined by the such agency) with respect 

6 to the factors described in section 804(e) of the Commu7 nity Reinvestment Act of 1977 (12 U.S.C. 2903(e)), as 

8 added by section 2(a) of this Act— 

9 (1) deny any merger or expansion requests by 

10 such institution; and 

11 (2) impose a civil money penalty on such insti12 tution in an amount determined by such agency. 

13 (b) USE OF CIVIL MONEY PENALTIES COL14 LECTED.—Any civil money penalties collected under regu15 lations prescribed pursuant to subsection (a)(2) shall be 

16 deposited in accounts established by the appropriate Fed17 eral financial supervisory agency, and the amounts in such 

18 accounts shall be made available to such agency to carry 

19 out its responsibilities under the Community Reinvestment 

20 Act of 1977 (12 U.S.C. 2901 et seq.), including distrib21 uting rewards pursuant to subsection (c) of this section. 

22 (c) REWARDS.—The appropriate Federal financial 

23 supervisory agency shall prescribe regulations that reward 

24 a regulated financial institution that receives a high rating 

25 (as determined by such agency) with respect to the factors 

26 described in section 804(e) of the Community ReinvestVerDate Mar 15 2010 00:46 Apr 22, 2011 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H1662.IH H1662

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1 ment Act of 1977 (12 U.S.C. 2903(e)), as added by sec2 tion 2(a) of this Act. 

3 (d) DEFINITIONS.—In this section, the terms ‘‘appro4 priate Federal financial supervisory agency’’ and ‘‘regu5 lated financial institution’’ have the same meanings as are 

6 given such terms in section 803 of the Community Rein7 vestment Act of 1977 (12 U.S.C. 2902). 

Æ 


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