Bill · S. 2464· Senate(119-S-2464)

Community Investment and Prosperity Act

Age: 61 years

South Carolina

Introduced: 7/24/2025
Last activity: 7/24/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsored by: Tim Scott
Cosponsors: - 5 - 4

Finance and Financial Sector

Introduced
In Committee

What this bill would do

This bill is titled the "Community Investment and Prosperity Act." It aims to allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments certain banks can make. Specifically, it targets national banking associations and State member banks. The legislation seeks to enable these institutions to make more investments to promote the public welfare. It achieves this by amending specific sentences within the Revised Statutes and the Federal Reserve Act.

Yes· 3 of 7

Is this likely to create jobs?+3
Increasing the cap on public welfare investments by banks may stimulate economic activity and job growth.
Is this likely to grow the economy?+3
The bill enables banks to allocate more capital toward public welfare initiatives, which can stimulate economic growth.
Does this make it easier to run a small business?+2
Increased investment in public welfare by banks can indirectly support community-based small business environments.