IIB 

116TH CONGRESS 

1ST SESSION H. R. 4067 

IN THE SENATE OF THE UNITED STATES 

OCTOBER 29, 2019 

Received; read twice and referred to the Committee on Banking, Housing, and 

Urban Affairs 

AN ACT 

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, 


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1 SECTION 1. SHORT TITLE. 

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

3 in Banking Act of 2019’’. 

4 SEC. 2. OFFICE OF COMMUNITY AFFAIRS DUTIES WITH RE5 SPECT TO UNDER-BANKED, UN-BANKED, AND 

6 UNDERSERVED CONSUMERS. 

7 Section 1013(b)(2) of the Consumer Financial Pro8 tection Act of 2010 (12 U.S.C. 5493(b)(2)) is amended— 

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

10 unit’’ and inserting the following: 

11 ‘‘(A) IN GENERAL.—The Director shall es12 tablish a unit to be known as the ‘Office of 

13 Community Affairs’ ’’; and 

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

15 ‘‘(B) DUTIES RELATED TO UNDER16 BANKED, UN-BANKED, AND UNDERSERVED

17 CONSUMERS.— 

18 ‘‘(i) IN GENERAL.—The Office of 

19 Community Affairs shall— 

20 ‘‘(I) lead coordination of research 

21 to identify any causes and challenges 

22 contributing to the decision of individ23 uals who, and households that, do not 

24 initiate or maintain on-going and sus25 tainable relationships with depository 

26 institutions, including consulting with 


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1 trade associations representing deposi2 tory institutions, trade associations 

3 representing minority depository insti4 tutions, organizations representing the 

5 interests of traditionally underserved 

6 consumers and communities, organi7 zations representing the interests of 

8 consumers (particularly low- and mod9 erate-income individuals), civil rights 

10 groups, community groups, consumer 

11 advocates, and the Consumer Advisory 

12 Board about this matter; 

13 ‘‘(II) identify subject matter ex14 perts within the Bureau to work on 

15 the issues identified under subclause 

16 (I); 

17 ‘‘(III) lead coordination efforts 

18 between other Federal departments 

19 and agencies to better assess the rea20 sons for the lack of, and help increase 

21 the participation of, under-banked, 

22 un-banked, and underserved con23 sumers in the banking system; and 

24 ‘‘(IV) identify and develop strate25 gies to increase financial education to 


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1 under-banked, un-banked, and under2 served consumers. 

3 ‘‘(ii) COORDINATION WITH OTHER BU4 REAU OFFICES.—In carrying out this para5 graph, the Office of Community Affairs 

6 shall consult with and coordinate with the 

7 research unit established under subsection 

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

9 as the Director may determine appropriate. 

10 ‘‘(iii) REPORTING.— 

11 ‘‘(I) IN GENERAL.—The Office of 

12 Community Affairs shall submit a re13 port to Congress, within two years of 

14 the date of enactment of this subpara15 graph and every 2 years thereafter, 

16 that identifies any factors impeding 

17 the ability of, or limiting the option 

18 for, individuals or households to have 

19 access to fair, on-going, and sustain20 able relationships with depository in21 stitutions to meet their financial 

22 needs, discusses any regulatory, legal, 

23 or structural barriers to enhancing 

24 participation of under-banked, un25 banked, and underserved consumers 


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1 with depository institutions, and con2 tains recommendations to promote 

3 better participation for all consumers 

4 with the banking system. 

5 ‘‘(II) TIMING OF REPORT.—To 

6 the extent possible, the Office shall 

7 submit each report required under 

8 subclause (I) during a year in which 

9 the Federal Deposit Insurance Cor10 poration does not issue the report on 

11 encouraging use of depository institu12 tions by the unbanked required under 

13 section 49 of the Federal Deposit In14 surance Act.’’. 

15 SEC. 3. DISCRETIONARY SURPLUS FUNDS. 

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

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

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

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

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

21 SEC. 4. DETERMINATION OF BUDGETARY EFFECTS. 

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

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

24 shall be determined by reference to the latest statement 

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


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1 Act, submitted for printing in the Congressional Record 

2 by the Chairman of the House Budget Committee, pro3 vided that such statement has been submitted prior to the 

4 vote on passage. 

Passed the House of Representatives October 28, 

2019. 

Attest: CHERYL L. JOHNSON, 

Clerk. 


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