RESCUE Act for Black and Community Banks

Summary

Reenergized Economic Sustainability for Community and Urban Entities Act for Black and Community Banks or the RESCUE Act for Black and Community Banks This bill establishes programs and requirements related to minority banks, Black banks, community banks, women's banks, and low-income credit unions. The bill establishes the Office of Black and Community Banks in the Office of the Comptroller of the Currency (OCC) to oversee Black and community banks. The OCC and the Securities and Exchange Commission must exempt these banks from specified securities and federal banking regulations in certain circumstances. The bill also establishes the Minority Bank Deposit Program. The Department of the Treasury must certify a depository institution or credit union upon successful application as a minority bank, a women's bank, or a low-income credit union. Every federal department and agency is directed to implement standards and procedures to ensure the use of such institutions to serve the financial needs of the department or agency. The Government Accountability Office must study the use of the new markets tax credit, lower-value home mortgages, and blockchain investments.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 January 2021

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.

   Source: IntroReferral

2. 4 January 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 January 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 4 January 2021 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 January 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 January 2021

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 4 January 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Rush, Bobby L. [D-IL-1] · D · Sponsor
• Rep. Carson, André [D-IN-7] · D · Sponsor
• Rep. Clarke, Yvette D. [D-NY-9] · D · Sponsor
• Rep. Cooper, Jim [D-TN-5] · D · Sponsor
• Rep. Khanna, Ro [D-CA-17] · D · Sponsor
• Sen. Welch, Peter [D-VT] · D · Sponsor
• Rep. Lee, Barbara [D-CA-12] · D · Cosponsor
• Rep. Omar, Ilhan [D-MN-5] · D · Cosponsor
• · hswm00 · Standing
• · hsba00 · Standing

Related records

• related to ← RESCUE Act for Black and Community Banks