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Community Investment and Prosperity Act
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.
Summary
The bill increases investment limits for national banks and state member banks that promote public welfare. Currently, these banks can invest up to 15 percent of their capital in projects designated to benefit communities. The bill raises this limit to 20 percent by amending the Revised Statutes and the Federal Reserve Act. This change would allow banks greater flexibility to direct funds toward community development and welfare projects.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Scott, Tim [R-SC] (R-SC)
9 cosponsors
- Sen. Alsobrooks, Angela D. [D-MD] (D-MD)
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE)
- Sen. Cassidy, Bill [R-LA] (R-LA)
- Sen. Cramer, Kevin [R-ND] (R-ND)
- Sen. Husted, Jon [R-OH] (R-OH)
- Sen. Kim, Andy [D-NJ] (D-NJ)
- Sen. McCormick, David [R-PA] (R-PA)
- Sen. Moreno, Bernie [R-OH] (R-OH)
- Sen. Warnock, Raphael G. [D-GA] (D-GA)
Actions (2)
- Jul 24, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jul 24, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
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>
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