Community Investment and Prosperity Act

119 S2464 IS: Community Investment and Prosperity Act U.S. Senate 2025-07-24 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II 119th CONGRESS 1st Session S. 2464 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. 1. Short title This Act may be cited as the Community Investment and Prosperity Act . 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 .