PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Congressional Research Service
Version 00 · Introduced in House · Apr 5, 1993
Community Banking and Economic Empowerment Act - Directs the Secretary of Housing and Urban Development (the Secretary) to provide capital, operating, and technical assistance to community development lenders and certain eligible entities in order to: (1) make credit-related services available to low-income persons inadequately served by traditional lending institutions; and (2) promote development and revitalization of low-income neighborhoods. Delineates the purposes for which the Secretary may provide assistance to community development lenders and to the eligible entities establishing those lenders. Prescribes guidelines for assisted community development lenders, including assistance agreements, auditing procedures, and educational programs. Directs the Board of Governors of the Federal Reserve System to ensure the availability of funds for community development banks and to submit to the Congress recommendations for increased liquidity lending to such banks by the Federal reserve banks. Amends the Community Reinvestment Act to preclude a regulated financial institution from receiving either an "outstanding" or a "satisfactory" rating for meeting community credit needs solely on the basis of its loans or investments in community development lenders.
People & committees
Rep. Waters, Maxine [D-CA-35] · D–CA
Legislative record
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Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Referred to the Subcommittee on Housing and Community Development.
Referred to the Subcommittee on Consumer Credit and Insurance.
Referred to the Subcommittee on Economic Growth and Credit Formation.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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