Referred to the House Committee on Financial Services.
The bill amends the Consumer Financial Protection Act to strengthen the Office of Community Affairs’ role in researching and addressing why individuals and households are un‑banked, under‑banked, or underserved. It directs the Office to coordinate research, consult a broad set of stakeholders (including minority depository institutions and civil rights groups), identify internal experts, coordinate with other federal agencies, develop financial education strategies, and submit a report to Congress within two years and every two years thereafter.
Liberals stress social inclusion and civil‑rights consultation benefits
Relative to its intended legislative type, this bill provides a clear statutory mandate and reporting requirement, integrates cleanly into existing CFPB structure, and identifies relevant coordination and consultation duties; however, it omits resource authorization, detailed research methodology, data‑access or privacy safeguards, and explicit follow‑up mechanisms.
The bill amends the Consumer Financial Protection Act to strengthen the Office of Community Affairs’ role in researching and addressing why individuals and households are un‑banked, under‑banked, or underserved.
It directs the Office to coordinate research, consult a broad set of stakeholders (including minority depository institutions and civil rights groups), identify internal experts, coordinate with other federal agencies, develop financial education strategies, and submit a report to Congress within two years and every two years thereafter.
Reports must identify factors impeding sustainable relationships with depository institutions, discuss regulatory or structural barriers, and recommend actions.
Content is narrow and administrative so it has reasonable bipartisan prospects, but agency‑expansion sensitivities and procedural barriers reduce certainty.
Relative to its intended legislative type, this bill provides a clear statutory mandate and reporting requirement, integrates cleanly into existing CFPB structure, and identifies relevant coordination and consultation duties; however, it omits resource authorization, detailed research methodology, data‑access or privacy safeguards, and explicit follow‑up mechanisms.
Liberals stress social inclusion and civil‑rights consultation benefits
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals stress social inclusion and civil‑rights consultation benefits
Generally supportive; sees the bill as a constructive federal role to identify structural barriers and expand access.
Views mandated stakeholder consultation and recurring reporting as useful tools to surface discriminatory or exclusionary practices, though it may push for stronger enforcement or funding.
Cautiously supportive; appreciates evidence-driven, interagency research and stakeholder engagement.
Wants to avoid duplication, unclear costs, and politicized outputs, seeking clear scope, performance metrics, and cost estimates before full endorsement.
Skeptical; views the bill as expanding CFPB activity and bureaucratic reach.
More acceptable if strictly limited to research and reporting without new regulatory powers or mandates on banks, but likely opposes increased federal involvement.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Content is narrow and administrative so it has reasonable bipartisan prospects, but agency‑expansion sensitivities and procedural barriers reduce certainty.
The bill has not accumulated any surfaced votes yet.
Liberals stress social inclusion and civil‑rights consultation benefits
Content is narrow and administrative so it has reasonable bipartisan prospects, but agency‑expansion sensitivities and procedural barriers…
Relative to its intended legislative type, this bill provides a clear statutory mandate and reporting requirement, integrates cleanly into existing CFPB structure, and identifies relevant coordination and consultation d…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.