H.R. 8721 · 116th Congress
Public Banking Act of 2020
- Stage
- In committee
- Sponsor
- Rashida Tlaib
- Introduced
- 2020-10-30
- Latest action
- 2020-10-30 · Introduced in House
Summary
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.