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 · Aug 6, 1993
TABLE OF CONTENTS: Title I: Community Development Banks Title II: Conforming Amendments Community Development Bank Act - Title I: Community Development Banks - Authorizes the Comptroller of the Currency to charter certain national banking associations (community development banks) that will: (1) engage primarily in community development activities; (2) be capitalized by insured depository institutions as its shareholders; and (3) provide credit, capital, and related services to revitalize distressed urban and rural communities. Restricts such a bank's loans and investments to provide a reasonable economic return to the bank and its shareholders consistent with its primary community development purpose. Mandates: (1) such bank's coordination with certain Federal agencies regarding its community development activities; and (2) an annual onsite examination to evaluate its compliance with this Act and its record of meeting community credit needs. Title II: Conforming Amendments - Amends the Federal Credit Union Act to: (1) authorize the National Credit Union Administration Board (the Board) to provide technical assistance to community development credit unions by using the interest earned from authorized investments in Treasury securities; and (2) direct the Board to study and report to certain congressional committees on regulatory and legislative changes that may be necessary to ensure the viability and productivity of community development activities by credit unions.
People & committees
Rep. McCollum, Bill [R-FL-8] · R–FL
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 Economic Growth and Credit Formation.
Referred to the Subcommittee on Consumer Credit and Insurance.
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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