H.R. 7003 · 117th Congress
Expanding Financial Access for Underserved Communities Act
- Stage
- Reported from committee
- Sponsor
- Maxine Waters
- Introduced
- 2022-03-08
- Latest action
- 2022-06-07 · Reported (Amended) by the Committee on Financial Services. H. Rept. 117-351.
Summary
Expanding Financial Access for Underserved Communities Act
This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.
The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.