Browsing: Financial inclusion

Community Banking

The American Bankers Association today submitted a letter of support for H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo banking.

Community Banking

To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) last week introduced H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo formation.

Newsbytes

The American Bankers Association joined a coalition of nine other trade associations in a letter opposing a bill introduced in the California State Assembly that would create a public banking program, BankCal, within the state treasurer’s office that would provide financial services to California residents.