Rep. Gregory W. Meeks Reintroduces Minority Banking Bill

WASHINGTON, D.C. – Congressman Gregory W. Meeks (NY-05) Senior Member of the House Financial Services Committee reintroduced the Ensuring Diversity in Community Banking Act. This bill passed the House in the two previous Congresses.

This bill puts forward regulatory initiatives to preserve and promote minority banks and credit unions, strengthens programs that provide capital to these crucial institutions and creates an Impact Bank designation for community banks that predominantly serve low-income communities.

“This legislation is a crucial step in ensuring the resilience of banks and credit unions serving under-banked, minority, and low-income communities,” said Rep. Meeks. “These institutions provide access to much needed financial services and serve as pillars of the banking ecosystem.”

Original cosponsors of this bill include Reps. Emmanuel Cleaver (MO-05), Al Green (TX-09), Joyce Beatty (OH-03) and David Scott (GA-13).

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