HR 5612
Small Business and Community Investments Expansion Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill expands access to financial support for small businesses and communities by allowing Federal Home Loan Banks to provide longer-term loans to a wider range of organizations. Specifically, it broadens the eligibility criteria for these loans to include more community development financial institutions (CDFIs) and insured credit unions. The changes aim to increase investment in small businesses, small farms, and community development projects. This legislation updates the Federal Home Loan Bank Act to facilitate these expanded lending opportunities.
Sponsors
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Primary sponsor
Tulsi Gabbard
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