Community Investment and Prosperity Act

Key Points

• This bill aims to help local neighborhoods by letting banks spend more on community projects. It changes the rules for national banks and state banks that belong to the Federal Reserve system.
• Currently, these banks can only use up to 15% of their extra money for "public welfare" investments. This bill would raise that limit to 20%, giving banks more room to fund local improvements like affordable housing.
• By increasing this limit, the bill hopes to encourage more private investment in areas that need it most. This could lead to more jobs and better services in low-income or rural communities across the country.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.