Community Finance Language Inclusion Act of 2023

Hozzl · 2023-12-15T15:57:24Z

Explore the details of House Bill 2834 Community Finance Language Inclusion Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:57 PM

Summary of Bill HR 2834

Bill 118 hr 2834, also known as the Community Finance Language Inclusion Act of 2023, aims to promote financial inclusion and access to financial services for individuals with limited English proficiency. The bill requires financial institutions to provide language access services, such as translated documents and interpretation services, to customers who have difficulty understanding English.

The bill also mandates that financial institutions collect data on the language preferences of their customers in order to better tailor their services to meet the needs of diverse communities. Additionally, the bill establishes a grant program to support community organizations that provide financial education and counseling services to individuals with limited English proficiency.

Overall, the Community Finance Language Inclusion Act of 2023 seeks to address the barriers that individuals with limited English proficiency face in accessing financial services and empower them to make informed financial decisions.

Congressional Summary of HR 2834

Community Finance Language Inclusion Act of 2023

This bill allows the Community Development Financial Institutions Fund to provide outreach and resources for non-English speaking individuals or individuals with limited English proficiency. The fund provides monetary awards and technical assistance to qualifying financial institutions to increase access to capital in underserved communities.

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Current Status of Bill HR 2834

Bill HR 2834 is currently in the status of Bill Introduced since April 25, 2023. Bill HR 2834 was introduced during Congress 118 and was introduced to the House on April 25, 2023. Bill HR 2834's most recent activity was Referred to the House Committee on Financial Services. as of April 25, 2023

Bipartisan Support of Bill HR 2834

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 2834

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 2834

Community Finance Language Inclusion Act of 2023

To amend the Community Development Banking and Financial Institutions Act of 1994 to include in technical assistance provided by the Community Development Financial Institutions Fund resources for non-English speaking individuals, and for other purposes.