Community Investment and Prosperity Act

Key Points

• This bill would let bank regulators raise the cap on certain community-focused investments by banks.
• It changes the limit from 15 to 20 (as written in federal banking law) for national banks and for state banks that are members of the Federal Reserve.
• If regulators use this authority, banks could put more money into projects meant to benefit the public, like local development efforts.
• Everyday impact could show up as more financing for community projects, but only if regulators approve higher limits and banks choose to participate.