July 24, 2025
Mr. Scott of South Carolina (for himself, Ms. Blunt Rochester, Mr. Moreno, Mr. Kim, Mr. McCormick, Ms. Alsobrooks, Mr. Cramer, and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes.
Section 1. Short title
This Act may be cited as the Community Investment and Prosperity Act
.
Sec. 2. Investments to promote the public welfare
(a) Revised Statutes
The paragraph designated as the Eleventh
of section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) is amended, in the fifth sentence, by striking 15
each place the term appears and inserting 20
.
(b) Federal Reserve Act
The 23rd paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking 15
each place the term appears and inserting 20
.