Expanding Financial Access for Underserved Communities Act

Summary

Expanding Financial Access for Underserved Communities Act This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population. The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.

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

Timeline

1. 19 September 2022

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)

   Source: IntroReferral

2. 19 September 2022

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 19 September 2022 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 September 2022

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 September 2022

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 September 2022

  Open at official source

Sponsors

• Sen. Padilla, Alex [D-CA] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → Financial Services Racial Equity, Inclusion, and Economic Justice Act
• related to → Expanding Financial Access for Underserved Communities Act