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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

RESCUE Act for Black and Community Banks
Reenergized Economic Sustainability for Community and Urban Entities Act for Black and Community Banks

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To provide regulatory relief for Black and community banks, to codify the Minority Bank Deposit Program, and for other purposes.


Actions Overview (1)

Date Actions Overview
01/03/2019Introduced in House

All Actions (3)

Date All Actions
01/03/2019Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
01/03/2019Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Action By: House of Representatives
01/03/2019Introduced in House
Action By: House of Representatives

Cosponsors (19)


Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services01/03/2019 Referred to
House Ways and Means01/03/2019 Referred to

As of 08/04/2020 no related bill information has been received for H.R.41 - RESCUE Act for Black and Community Banks


Latest Summary (1)

There is one summary for H.R.41. View summaries

Shown Here:
Introduced in House (01/03/2019)

Reenergized Economic Sustainability for Community and Urban Entities Act for Black and Community Banks or the RESCUE Act for Black and Community Banks

This bill establishes programs and requirements related to minority banks, black banks, community banks, women's banks, and low-income credit unions.

The bill establishes the Office of Black and Community Banks in the Office of the Comptroller of the Currency (OCC) to oversee black and community banks. The OCC and the Securities and Exchange Commission must exempt these banks from specified securities and federal banking regulations in certain circumstances.

The bill also establishes the Minority Bank Deposit Program. The Department of the Treasury must certify a depository institution or credit union upon successful application as a minority bank, a women's bank, or a low-income credit union. Every federal department and agency is directed to implement standards and procedures to ensure the use of such institutions to serve the financial needs of the department or agency.

The Government Accountability Office must study the use of the new markets tax credit, lower-value home mortgages, and blockchain investments.