Ensuring Diversity in Community Banking Act of 2019
This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks.
The bill (1) expands the definition of minority depository institutions to include women-owned banks, and (2) establishes impact banks as depository institutions with total assets less than $10 billion and where at least 50% of loans are extended to low-income borrowers.
The bill establishes a program allowing minority depository institutions and impact banks to receive deposits from certain Department of the Treasury accounts through designated custodial entities. It also establishes the Minority Bank Deposit Program to ensure the use of minority banks and minority credit unions to the maximum extent possible to serve the financial needs of federal departments and agencies.
Federal banking agencies must issue rules allowing new minority depository institutions and impact banks three years to meet capital requirements.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2020-09-22 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2020-09-21 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2020-09-21 | Floor | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4597-4600) | House floor actions |
| 2020-09-21 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 5322. | House floor actions |
| 2020-09-21 | Floor | Considered under suspension of the rules. (consideration: CR H4597-4602) | House floor actions |
| 2020-09-21 | Floor | Mr. Sherman moved to suspend the rules and pass the bill, as amended. | House floor actions |
| 2019-12-11 | Committee | Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0. | House committee actions |
| 2019-12-11 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2019-12-10 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2019-12-05 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2019-12-05 | IntroReferral | Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House floor actions |
| 2019-12-05 | IntroReferral | Introduced in House | Library of Congress |