119-hr2890

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2890 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 2890

 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.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 April 10, 2025

 Mr. David Scott of Georgia (for himself and Mrs. Kim) introduced the 
 following bill; which was referred to the Committee on Financial 
 Services

_______________________________________________________________________

 A BILL

 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.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Financial Inclusion in Banking Act 
of 2025''.

SEC. 2. OFFICE OF COMMUNITY AFFAIRS DUTIES WITH RESPECT TO UNDER-
 BANKED, UN-BANKED, AND UNDERSERVED CONSUMERS.

 

Section 1013

    (b)

    (2) of the Consumer Financial Protection Act of 2010 
(12 U.S.C. 5493

    (b)

    (2) ) is amended--

    (1) by striking ``The Director shall establish a unit'' and 
 inserting the following:
 ``
        (A) In general.--The Director shall establish a 
 unit to be known as the `Office of Community 
 Affairs'''; and

    (2) by adding at the end the following:
 ``
        (B) Duties related to under-banked, un-banked, 
 and underserved consumers.--
 ``
            (i) In general.--The Office of Community 
 Affairs shall--
 ``
            (I) lead coordination of research 
 to identify any causes and challenges 
 contributing to the decision of 
 individuals who, and households that, 
 do not initiate or maintain on-going 
 and sustainable relationships with 
 depository institutions, including 
 consulting with trade associations 
 representing depository institutions, 
 trade associations representing 
 minority depository institutions, 
 organizations representing the 
 interests of traditionally underserved 
 consumers and communities, 
 organizations representing the 
 interests of consumers (particularly 
 low- and moderate-income individuals), 
 civil rights groups, community groups, 
 consumer advocates, and the Consumer 
 Advisory Board about this matter;
 ``
            (II) identify subject matter 
 experts within the Bureau to work on 
 the issues identified under subclause
            (I) ;
 ``
            (III) lead coordination efforts 
 between other Federal departments and 
 agencies to better assess the reasons 
 for the lack of, and help increase the 
 participation of, under-banked, un-
 banked, and underserved consumers in 
 the banking system; and
 ``
            (IV) identify and develop 
 strategies to increase financial 
 education to under-banked, un-banked, 
 and underserved consumers.
 ``
            (ii) Coordination with other bureau 
 offices.--In carrying out this paragraph, the 
 Office of Community Affairs shall consult with 
 and coordinate with the research unit 
 established under subsection

    (b)

    (1) and such 
 other offices of the Bureau as the Director may 
 determine appropriate.
 ``
            (iii) Reporting.--
 ``
            (I) In general.--The Office of 
 Community Affairs shall submit a report 
 to Congress, within two years of the 
 date of enactment of this subparagraph 
 and every 2 years thereafter, that 
 identifies any factors impeding the 
 ability of, or limiting the option for, 
 individuals or households to have 
 access to fair, on-going, and 
 sustainable relationships with 
 depository institutions to meet their 
 financial needs, discusses any 
 regulatory, legal, or structural 
 barriers to enhancing participation of 
 under-banked, un-banked, and 
 underserved consumers with depository 
 institutions, and contains 
 recommendations to promote better 
 participation for all consumers with 
 the banking system.
 ``
            (II) Timing of report.--To the 
 extent possible, the Office shall 
 submit each report required under 
 subclause
            (I) during a year in which 
 the Federal Deposit Insurance 
 Corporation does not issue the report 
 on encouraging use of depository 
 institutions by the unbanked required 
 under 

section 49 of the Federal Deposit 
 Insurance Act.''.
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