S. 1442IntroducedFINANCE AND FINANCIAL SECTOR
Scaling Community Lenders Act of 2023
Community Development Financial Institutions Fund · Community life and organization · Congressional oversight
Key facts
Introduced: May 4, 2023
Chamber: Senate
Cosponsors: 5
Congress: 118th
Latest action · Mar 12, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.
Summary
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.
Summary by Congressional Research Service.
Timeline
- Mar 12, 2024Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.
- May 4, 2023Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 4, 2023Introduced in Senate
Cosponsors
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