Bill · H.R. 2890· House(119-HR-2890)
Financial Inclusion in Banking Act of 2025
- Introduced
- 4/10/2025
- Last activity
- 4/10/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- David Scott
- Cosponsors
- - 0 - 2
- Introduced
- In Committee
What this bill would do
This bill, known as the "Financial Inclusion in Banking Act of 2025," proposes changes to the Consumer Financial Protection Act of 2010. It directs the Office of Community Affairs to focus on under-banked, un-banked, and underserved consumers. The Office will lead research to identify why certain individuals and households do not maintain sustainable relationships with depository institutions. It also tasks the Office with coordinating between Federal departments to increase banking system participation. Additionally, the Office is responsible for developing strategies to increase financial education for these groups. Finally, it requires periodic reports to Congress regarding barriers to banking access and recommendations for improvement.
Yes· 3 of 10
Would households on low incomes be better off under this?+5
The bill specifically targets the needs of under-banked and underserved consumers to increase financial inclusion.
Does this give people more protection from unfair business practices?+5
The bill strengthens consumer protection by researching and addressing barriers to banking access.
Would Black Americans be better off under this?+3
The focus on minority depository institutions and underserved communities can benefit African American financial access.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Financial Knowledge: The Office will identify and develop strategies to increase financial education for under-s-banked, un-banked, and underserved consumers (Section 2, (B)(i)(IV)).
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Identification of Barriers: The Office is tasked with researching causes and challenges that prevent individuals and households from maintaining sustainable relationships with depository institutions (Section 2, (B)(i)(I)).
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Better Access to Banking: Through coordination with Federal departments, the Office aims to help increase the participation of under-banked, un-banked, and underserved consumers in the banking system (Section 2, (B)(i)(III)).
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Government Accountability: The Office must submit a report to Congress every two years to identify factors limiting banking access and provide recommendations to promote better participation (Section 2, (B)(iii)(I)).
Potential Negative Impacts for People
- No negative impacts or burdens are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households+5Good For African Americans+3Good For Hispanic Americans+3Good For Native Americans+3
- Economy And Finance
- Improves Consumer Protection+5Improves Economic Growth+1
- Social Issues And Justice
- Improves Poverty Reduction+3Improves Racial Equity+3
- Governance And Ideology
- Improves Government Transparency+3Increases Federal Power+2
- 10/3/2025
- 1 Cosponsor added.
- 4/10/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
Young KimRepublican · California
Zachary NunnRepublican · Iowa