Strengthening Community Business Development Act

Senate Bill 4532 - Strengthening Community Business Development Act: Overview, Status, and Impact

Hozzl · 2022-12-29T18:33:45Z

Explore the details of Senate Bill 4532 Strengthening Community Business Development Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/29/2022, 6:33 PM

Congressional Summary of S 4532

Strengthening Community Business Development Act

This bill expands the factors allowed to be considered by a supervising agency when evaluating a financial institution's compliance with community reinvestment standards. Specifically, the bill allows a supervising agency to consider the efforts of a financial institution that deny business loans to low- and moderate-income borrowers to refer these borrowers to community business development organizations or to provide these borrowers directly with business development resources.

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Current Status of Bill S 4532

Bill S 4532 is currently in the status of Bill Introduced since July 14, 2022. Bill S 4532 was introduced during Congress 117 and was introduced to the Senate on July 14, 2022. Bill S 4532's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of July 14, 2022

Bipartisan Support of Bill S 4532

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4532

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 4532

Strengthening Community Business Development Act

A bill to amend the Community Reinvestment Act of 1977 to provide financial institutions with credit for providing community business development referrals or resources, and for other purposes.