Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations.

Bill: 116-hjres-90
Sponsor: full_name: Rep. Waters, Maxine [D-CA-43]
Introduced: 2020-06-11
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Bank accounts, deposits, capital

Banking and financial institutions regulation

Business investment and capital

Congressional oversight

Credit and credit markets

Department of the Treasury
Latest action: action_date: 2020-10-19
text: Motion to proceed to consideration of measure rejected in Senate by Yea-Nay Vote. 43 - 48. Record Vote Number: 201.

Summaries:
action_date: 2020-06-11
action_desc: Introduced in House
text: <p>This joint resolution nullifies a rule published on June 5, 2020, by the Office of the Comptroller of the Currency within the Department of the Treasury. </p> <p>The rule generally revises the office's&nbsp;implementation of the Community Reinvestment Act (CRA), which requires banks to serve the credit needs of low- and moderate-income communities. Under the CRA, a bank receives credit, which influences the bank's performance rating,&nbsp;for conducting specified activities related to this requirement in designated assessment areas. </p> <p>Among other things, the rule revises qualifying CRA activities, sets forth new procedures for determining if an activity qualifies under the CRA, and expands designated assessment areas. </p>

action_date: 2020-06-29
action_desc: Passed House
text: <p>This joint resolution nullifies a rule published on June 5, 2020, by the Office of the Comptroller of the Currency within the Department of the Treasury. </p> <p>The rule generally revises the office's&nbsp;implementation of the Community Reinvestment Act (CRA), which requires banks to serve the credit needs of low- and moderate-income communities. Under the CRA, a bank receives credit, which influences the bank's performance rating,&nbsp;for conducting specified activities related to this requirement in designated assessment areas. </p> <p>Among other things, the rule revises qualifying CRA activities, sets forth new procedures for determining if an activity qualifies under the CRA, and expands designated assessment areas. </p>

tv_txt: IA 116th CONGRESS 2d Session H. J. RES. 90 IN THE HOUSE OF REPRESENTATIVES JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations .

That Congress disapproves the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations (85 Fed. Reg. 34734; published June 5, 2020), and such rule shall have no force or effect.

Passed the House of Representatives June 29, 2020. Cheryl L. Johnson, Clerk.

tv_txt: IA 116th CONGRESS 2d Session H. J. RES. 90 IN THE HOUSE OF REPRESENTATIVES June 11, 2020 Ms. Waters (for herself and Mr. Meeks ) submitted the following joint resolution; which was referred to the Committee on Financial Services JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations .

That Congress disapproves the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations (85 Fed. Reg. 34734; published June 5, 2020), and such rule shall have no force or effect.

tv_txt: IIA 116th CONGRESS 2d Session H. J. RES. 90 IN THE SENATE OF THE UNITED STATES June 30, 2020 Received JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations .

That Congress disapproves the rule submitted by the Office of the Comptroller of the Currency relating to Community Reinvestment Act Regulations (85 Fed. Reg. 34734; published June 5, 2020), and such rule shall have no force or effect.

Passed the House of Representatives June 29, 2020. Cheryl L. Johnson, Clerk