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Increased Bank Investments for Community Development and Public Welfare

This act expands the ability of national banks and Federal Reserve member banks to invest in projects that promote public welfare. This means banks can allocate more funds to support local initiatives, potentially leading to community development and improved quality of life for residents.
Key points
National banks and Federal Reserve member banks can increase their public welfare investments from 15% to 20% of their capital and surplus.
More funds can be directed towards supporting local initiatives like housing, small business development, or educational programs.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2464
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2025-07-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Community Investment and Prosperity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2464.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-24.

What are the main provisions?

Key points include:

  • National banks and Federal Reserve member banks can increase their public welfare investments from 15% to 20% of their capital and surplus.
  • More funds can be directed towards supporting local initiatives like housing, small business development, or educational programs.
What is the specific legal status?

The current status is Introduced.

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 Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Public Investments Economy