Community Investment and Prosperity Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2464 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2464 To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 24, 2025 Mr. Scott of South Carolina (for himself, Ms. Blunt Rochester, Mr. Moreno, Mr. Kim, Mr. McCormick, Ms. Alsobrooks, Mr. Cramer, and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Community Investment and Prosperity Act''. SEC. 2. INVESTMENTS TO PROMOTE THE PUBLIC WELFARE. (a) Revised Statutes.--The paragraph designated as the ``Eleventh'' of section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) is amended, in the fifth sentence, by striking ``15'' each place the term appears and inserting ``20''. (b) Federal Reserve Act.--The 23rd paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking ``15'' each place the term appears and inserting ``20''. <all>