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Scaling Community Lenders Act of 2022

12/29/2022, 6:33 PM

Congressional Summary of S 4537

Scaling Community Lenders Act of 2022

This bill allows the Community Development Financial Institutions Fund to provide guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization.

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Current Status of Bill S 4537

Bill S 4537 is currently in the status of Bill Introduced since July 14, 2022. Bill S 4537 was introduced during Congress 117 and was introduced to the Senate on July 14, 2022.  Bill S 4537'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 4537

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 4537

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 4537

Scaling Community Lenders Act of 2022
Scaling Community Lenders Act of 2022
A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to adjust for inflation the maximum amount of assistance provided by the Community Development Financial Institutions Fund, and for other purposes.

Comments

Sponsors and Cosponsors of S 4537

Mark R. Warner
Mark R. Warner
VirginiaDemocrat
Bill Hagerty
Bill Hagerty
TennesseeRepublican

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