US HB1662 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 15 2011 - 25% progression, died in committee
Action: 2011-05-02 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Pending: House Subcommittee on Financial Institutions and Consumer Credit Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 15 2011 - 25% progression, died in committee
Action: 2011-05-02 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Pending: House Subcommittee on Financial Institutions and Consumer Credit Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Bank Accessibility Act - Amends the Community Reinvestment Act of 1977 with respect to the requirement that, in examining a financial institution, the appropriate federal financial supervisory agency assess and take into account the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Requires the appropriate federal financial supervisory agency, in making such an assessment, to consider as factors: (1) the branch distribution of such institutions in low- to moderate-income communities; and (2) the services provided to borrowers in such communities by such institutions, including free check cashing and debit card and ATM services. Requires the consideration of such factors to be weighted to account for approximately 33% of the institutions's rating. Requires the appropriate federal financial supervisory agency to prescribe regulations that, in the case of any regulated financial institution receiving a low rating with respect to such factors, deny any of the institution's merger or expansion requests; and (2) impose a civil money penalty on the institution. Requires deposit of collected civil monetary penalties in accounts made available to carry out the appropriate federal financial supervisory agency's responsibilities under the Community Reinvestment Act of 1977. Requires the appropriate federal financial supervisory agency to prescribe regulations that reward a regulated financial institution that receives a high rating with respect to such factors.
Title
Bank Accessibility Act
Sponsors
Rep. Anthony Weiner [D-NY] |
History
Date | Chamber | Action |
---|---|---|
2011-05-02 | House | Referred to the Subcommittee on Financial Institutions and Consumer Credit. |
2011-04-15 | House | Referred to the House Committee on Financial Services. |
Subjects
Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
Consumer affairs
Department of the Treasury
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System
Finance and financial sector
User charges and fees
Bank accounts, deposits, capital
Banking and financial institutions regulation
Consumer affairs
Department of the Treasury
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System
Finance and financial sector
User charges and fees
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/house-bill/1662/all-info |
Text | https://www.congress.gov/112/bills/hr1662/BILLS-112hr1662ih.pdf |