The House on Tuesday passed legislation that would require banking agencies, including the National Credit Union Administration, to investigate the challenges facing groups that want to start a credit union or bank.
The House passed H.R. 4586 by voice vote, with Republican support. The vote came as the House slogged through a list of bills on Tuesday and Wednesday.
The bill also would require the banking agencies to develop a strategic plan to promote the chartering of Minority Depository Institutions (MDIs) that could be certified as Community Development Financial Institutions (CDFIs).continue reading »