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Financial Inclusion Act: Removing Barriers to Banking for Underserved Consumers.

This law mandates the Office of Community Affairs to research why millions of Americans are unbanked or under-banked and to develop strategies to increase their participation in the financial system. The goal is to remove barriers and ensure access to fair and sustainable financial services, helping citizens manage their personal finances effectively. The Office must regularly report its findings and recommendations to Congress.
Key points
Establishes a dedicated government unit to identify the causes of financial exclusion (people without bank accounts or with limited access to services).
Requires the development of strategies and financial education programs to help citizens establish and maintain relationships with banking institutions.
Mandates regular reporting to Congress on legal and structural barriers hindering banking access and recommendations for their removal.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_1711
Sponsor: Rep. Scott, David [D-GA-13]
Process start date: 2021-03-09
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Inclusion in Banking Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1711.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-09.

What are the main provisions?

Key points include:

  • Establishes a dedicated government unit to identify the causes of financial exclusion (people without bank accounts or with limited access to services).
  • Requires the development of strategies and financial education programs to help citizens establish and maintain relationships with banking institutions.
  • Mandates regular reporting to Congress on legal and structural barriers hindering banking access and recommendations for their removal.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Scott, David [D-GA-13].

What is the latest detailed status?

The latest detailed status is: 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)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy