Reps. Lawler, Beatty and Kim sponsor bill to boost community investments
U.S. Reps. Mike Lawler (R-NY), Joyce Beatty (D-OH), and Young Kim (R-CA) introduced a bill to allow banks to increase community investments and promote public welfare as well as local economic development. Currently, national banks and state member banks can invest up to 15 percent of their capital and surplus in projects that benefit the public good, such as affordable housing, small business lending, and community revitalization. The Community Investment and Prosperity Act (H.R. 5913} ...
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