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Bill117th CongressFiled Mar 8, 2022Finance and Financial Sector
H.R. 7003

Expanding Financial Access for Underserved Communities Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house (Jun 7, 2022)

Expanding Financial Access for Underserved Communities Act

This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.

The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.

What just happenedJun 7, 2022

Placed on the Union Calendar, Calendar No. 265.

Who’s behind it

Rep. Waters, Maxine [D-CA-43](D-CA)Sponsor
2 cosponsors2 D
Read on Congress.gov
2cosponsors1committees8actions2related bills2subjects
  1. Jun 7, 2022CalendarsH12410

    Placed on the Union Calendar, Calendar No. 265.

  2. Jun 7, 2022CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-351.

    Financial Services Committee
  3. Jun 7, 2022Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-351.

    Financial Services Committee
  4. May 17, 2022Committee

    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 27 - 22.

    Financial Services Committee
  5. May 17, 2022Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  6. Mar 8, 2022IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  7. Mar 8, 2022IntroReferralIntro-H

    Introduced in House

  8. Mar 8, 2022IntroReferral1000

    Introduced in House

Reported to HouseJun 7, 20227

Expanding Financial Access for Underserved Communities Act

This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.

The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.

Introduced in HouseMar 8, 2022

Expanding Financial Access for Underserved Communities Act

This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.

The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.

Expanding Financial Access for Underserved Communities Act — Informed