Summary: H.R.8721 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.8721. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/30/2020)

Public Banking Act of 2020

This bill provides for the establishment of public banks. Among other things, the bill

  • allows public banks to become members of the Federal Reserve;
  • establishes loan facilities for public banks;
  • prohibits the investment in fossil fuels by public banks;
  • allows for the establishment of securities issued by public banks;
  • provides for the establishment of public banks at U.S. post offices; and
  • provides grants for the formation, chartering, and capitalization of public banks.