What does Preamble of S 2464 do?

This bill, formally titled 'A BILL To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes,' aims to modify investment allowances for banks. The bill would authorize the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to adjust the total amount national banking associations and State member banks can invest. The stated purpose of these investments is to promote the public welfare.

What does SHORT TITLE. of S 2464 do?

This bill is formally titled the Community Investment and Prosperity Act.

What does INVESTMENTS TO PROMOTE THE PUBLIC WELFARE. of S 2464 do?

This section amends the Eleventh paragraph of section 5136 of the Revised Statutes of the United States. The amendment modifies the fifth sentence of the Eleventh paragraph by changing the number '15' to '20'. This section also amends the 23rd paragraph of section 9 of the Federal Reserve Act. Similarly, the amendment modifies the fifth sentence of the 23rd paragraph by changing the number '15' to '20'.

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Community Investment and Prosperity Act — S. 2464

Last updated: 7/24/2025 · Introduced: 7/24/2025

Author: Tim Scott (R-SC)

TL;DR (AI)

This bill increases the aggregate amount national banking associations and State member banks can invest to promote the public welfare from $15 million to $20 million.
The Comptroller of the Currency and the Board of Governors of the Federal Reserve System are authorized to adjust this investment allowance.

119th Congressin committeeHR. 5913(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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