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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 Passed House

Ensuring Diversity in Community Banking Act

Short Title(s) as Introduced

Ensuring Diversity in Community Banking Act of 2019

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To establish or modify requirements relating to minority depository institutions, community development financial institutions, and impact banks, and for other purposes.


Actions Overview (2)

Date Actions Overview
09/21/2020Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
12/05/2019Introduced in House

All Actions (12)

Date Chamber All Actions
09/22/2020SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
09/21/2020-4:15pmHouseMotion to reconsider laid on the table Agreed to without objection.
09/21/2020-4:15pmHouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4597-4600)
09/21/2020-4:01pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 5322.
09/21/2020-4:01pmHouseConsidered under suspension of the rules. (consideration: CR H4597-4602)
09/21/2020-4:01pmHouseMr. Sherman moved to suspend the rules and pass the bill, as amended.
12/11/2019HouseOrdered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
Action By: Committee on Financial Services
12/11/2019HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
12/10/2019HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
12/05/2019HouseReferred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.
12/05/2019HouseReferred to the Committee on Financial Services, and in addition to the Committee on Small Business, 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.
12/05/2019HouseIntroduced in House

Cosponsors (7)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Green, Al [D-TX-9]* 12/05/2019
Rep. Tlaib, Rashida [D-MI-13]* 12/05/2019
Rep. Cleaver, Emanuel [D-MO-5]* 12/05/2019
Rep. Scott, David [D-GA-13]* 12/05/2019
Rep. Clay, Wm. Lacy [D-MO-1]* 12/05/2019
Rep. Beatty, Joyce [D-OH-3]* 12/05/2019
Rep. Khanna, Ro [D-CA-17] 06/18/2020

Committees (3)

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 Related Documents
House Financial Services12/05/2019 Referred to
12/11/2019 Markup by
House Small Business12/05/2019 Referred to
Senate Banking, Housing, and Urban Affairs09/22/2020 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Latest Summary (2)

There are 2 summaries for H.R.5322. View summaries

Shown Here:
Passed House (09/21/2020)

Ensuring Diversity in Community Banking Act

This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks.

(Sec. 4) The bill expands the definition of minority depository institutions to include women-owned banks. It also establishes impact banks as depository institutions with total assets less than $10 billion and where a certain total dollar value of loans are extended to low-income borrowers.

(Sec. 6) The bill creates Minority Depository Institutions Advisory Committees at the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The committees must provide advice to their respective entities regarding preservation of the number and character of minority-owned institutions and the creation of new institutions.

(Sec. 8) The bill establishes the Minority Bank Deposit Program to prioritize the use of minority depository institutions to hold the deposits of federal departments and agencies.

(Sec. 10) The bill sets forth the threshold of controlling shares with respect to minority depository institutions and impact banks. It also allows new minority depository institutions and impact banks to take three years to meet initial capital requirements.

(Sec. 12) The bill establishes a program allowing minority depository institutions and impact banks to apply to receive deposits from certain Treasury accounts.

(Sec. 13) The Federal Deposit Insurance Corporation must evaluate certain applications for deposit insurance for eligibility as a community development financial institution.

(Sec. 14) The Small Business Administration must establish a task force on lending to small business concerns by improving relationships with community development financial institutions, minority depository institutions, and impact banks.

(Sec. 15) The bill also decreases, beginning September 30, 2030, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)