S 1442 · 118th Congress · Finance and Financial Sector

Scaling Community Lenders Act of 2023

Introduced 2023-05-04· Sponsored by Sen. Warner, Mark R. [D-VA]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Banking, Housing, and Urban Affairs. Hearings held.(2024-03-12)

Plain Language Summary

[AI summary unavailable — showing source text] Scaling Community Lenders Act of 2023 This bill allows the Community Development Financial Institutions Fund to provide funds for guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization. The bill also allows the Emergency Capital Investment Fund to provide assistance for these purposes.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (5)

2 Democrats3 Republicans