Financial Inclusion in Banking Act of 2021

Bill: 117-hr-1711
Sponsor: Rep. Scott, David [D-GA-13]
Introduced: 2021-03-09 in the House
Policy area: Finance and Financial Sector
Subjects: Bank accounts, deposits, capital
Congressional oversight
Consumer Financial Protection Bureau
Consumer credit
Executive agency funding and structure
Federal Reserve System
Financial literacy
Government studies and investigations

Summary:
action_date: 2021-03-09
text: 

Financial Inclusion in Banking Act of 2021

 
This bill expands the duties of the Office of Community Affairs within the Consumer Financial Protection Bureau regarding under-banked, un-banked, and underserved consumers. Specifically, the office must (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.
 
The bill also decreases, beginning September 30, 2029, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

action_date: 2021-05-18
text: 

Financial Inclusion in Banking Act of 2021

 
This bill expands the duties of the Office of Community Affairs within the Consumer Financial Protection Bureau regarding under-banked, un-banked, and underserved consumers. Specifically, the office must (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.
 
The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)


Legislative actions:
action_date: 2021-05-19
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2021-05-18
text: Pursuant to section 5 of H. Res. 403, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 144, as amended; H.R. 204, as amended; H.R. 210, as amended; H.R. 240; H.R. 707, as amended; H.R. 711, as amended; H.R. 1157, as amended; H.R. 1447, as amended; H.R. 1510, as amended; H.R. 1711, as amended; H.R. 2027; H.R. 2167, as amended; H.R. 2441; H.R. 2494; H.R. 2533; H.R. 2655, as amended; H.R. 2695, H.R. 2704; H.R. 2788; H.R. 2878, as amended; and H.R. 3008. (consideration: CR H2482-2520; text: CR H2509-2510)
action_date: 2021-05-18
text: Passed/agreed to in House: Pursuant to section 5 of H. Res. 403, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 144, as amended; H.R. 204, as amended; H.R. 210, as amended; H.R. 240; H.R. 707, as amended; H.R. 711, as amended; H.R. 1157, as amended; H.R. 1447, as amended; H.R. 1510, as amended; H.R. 1711, as amended; H.R. 2027; H.R. 2167, as amended; H.R. 2441; H.R. 2494; H.R. 2533; H.R. 2655, as amended; H.R. 2695, H.R. 2704; H.R. 2788; H.R. 2878, as amended; and H.R. 3008.(consideration: CR H2482-2520; text: CR H2509-2510)
action_date: 2021-05-18
text: Pursuant to the provisions of H. Res. 403, proceedings on H.R. 1711 are considered vacated.
action_date: 2021-05-18
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2021-05-18
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1711.
action_date: 2021-05-18
text: Considered under suspension of the rules. (consideration: CR H2450-2452; text: CR H2450)
action_date: 2021-05-18
text: Mr. Cleaver moved to suspend the rules and pass the bill, as amended.
action_date: 2021-03-09
text: 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.
action_date: 2021-03-09
text: 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.
action_date: 2021-03-09
text: Introduced in House
action_date: 2021-03-09
text: Introduced in House