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Bill117th CongressFiled Mar 9, 2021Finance and Financial Sector
H.R. 1711

Financial Inclusion in Banking Act of 2021

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
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Law

What it doesSummary passed house (May 18, 2021)

Financial Inclusion in Banking Act of 2021

This bill expands the duties of the Office of Community Affairs within the Consumer Financial Protection Bureau regarding under-banked, un-banked, and underserved consumers. Specifically, the office must (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.

The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

What just happenedMay 19, 2021

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Scott, David [D-GA-13](D-GA)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors3committees12actions1related bills8subjects
  1. May 19, 2021IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. May 18, 2021FloorH37300

    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)

  3. May 18, 2021Floor8000

    Passed/agreed to in House: 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)

  4. May 18, 2021FloorH1B000

    Pursuant to the provisions of H. Res. 403, proceedings on H.R. 1711 are considered vacated.

  5. May 18, 2021FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  6. May 18, 2021FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 1711.

  7. May 18, 2021FloorH30000

    Considered under suspension of the rules. (consideration: CR H2450-2452; text: CR H2450)

  8. May 18, 2021FloorH30300

    Mr. Cleaver moved to suspend the rules and pass the bill, as amended.

  9. Mar 9, 2021IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, 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.

    Budget Committee
  10. Mar 9, 2021IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, 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.

    Financial Services Committee
  11. Mar 9, 2021IntroReferralIntro-H

    Introduced in House

  12. Mar 9, 2021IntroReferral1000

    Introduced in House

Passed HouseMay 18, 202153

Financial Inclusion in Banking Act of 2021

This bill expands the duties of the Office of Community Affairs within the Consumer Financial Protection Bureau regarding under-banked, un-banked, and underserved consumers. Specifically, the office must (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.

The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

Introduced in HouseMar 9, 2021

Financial Inclusion in Banking Act of 2021

This bill expands the duties of the Office of Community Affairs within the Consumer Financial Protection Bureau regarding under-banked, un-banked, and underserved consumers. Specifically, the office must (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.

The bill also decreases, beginning September 30, 2029, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

Financial Inclusion in Banking Act of 2021 — Informed