Community Investment and Prosperity Act

Bill: 119-s-2464
Sponsor: full_name: Sen. Scott, Tim [R-SC]
Introduced: 2025-07-24
Policy area: Finance and Financial Sector
Latest action: action_date: 2025-07-24
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:

tv_txt: II 119th CONGRESS 1st Session S. 2464 IN THE SENATE OF THE UNITED STATES July 24, 2025 Mr. Scott of South Carolina (for himself, Ms. Blunt Rochester , Mr. Moreno , Mr. Kim , Mr. McCormick , Ms. Alsobrooks , Mr. Cramer , and Mr. Warnock ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes.

1. Short title This Act may be cited as the Community Investment and Prosperity Act . 2. Investments to promote the public welfare (a) Revised Statutes The paragraph designated as the Eleventh of section 5136 of the Revised Statutes of the United States ( 12 U.S.C. 24 ) is amended, in the fifth sentence, by striking 15 each place the term appears and inserting 20 . (b) Federal Reserve Act The 23rd paragraph of section 9 of the Federal Reserve Act ( 12 U.S.C. 338a ) is amended, in the fifth sentence, by striking 15 each place the term appears and inserting 20 .