H.R. 1711: Financial Inclusion in Banking Act of 2021
CBO Report Details
Legislation Details
117th Congress
To amend the Consumer Financial Protection Act of 2010 to direct the Office of Community Affairs to identify causes leading to, and solutions for, under-banked, un-banked, and underserved consumers, and for other purposes.
Sponsor: Rep. David Scott — D — GA
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 ...
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