HR 8721 · 116th Congress · Finance and Financial Sector
Public Banking Act of 2020
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2020-10-30)
Plain Language Summary
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Public Banking Act of 2020 This bill provides for the establishment of public banks. Among other things, the bill allows public banks to become members of the Federal Reserve; establishes loan facilities for public banks; prohibits the investment in fossil fuels by public banks; allows for the establishment of securities issued by public banks; provides for the establishment of public banks at U.S. post offices; and provides grants for the formation, chartering, and capitalization of public banks.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (9)
9 Democrats