arrow_back Back to App

Boosting Financial Access: Solutions for Unbanked and Underserved Consumers.

This bill directs the Office of Community Affairs to lead research into why individuals and households do not maintain sustainable relationships with depository institutions. It requires the Office to coordinate with other federal agencies, identify barriers, and develop strategies to increase financial education and participation for un-banked and under-banked consumers.
Key points
Mandates the Office of Community Affairs to lead research into the causes preventing individuals from maintaining bank relationships.
Requires the development of strategies to increase financial education for unbanked and underserved consumers.
The Office must report to Congress every two years with recommendations to remove regulatory and structural barriers to banking access.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_8740
Sponsor: Rep. Scott, David [D-GA-13]
Process start date: 2024-06-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Financial Inclusion in Banking Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8740.

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 2024-06-13.

What are the main provisions?

Key points include:

  • Mandates the Office of Community Affairs to lead research into the causes preventing individuals from maintaining bank relationships.
  • Requires the development of strategies to increase financial education for unbanked and underserved consumers.
  • The Office must report to Congress every two years with recommendations to remove regulatory and structural barriers to banking access.
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: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy