Improving Access to Mainstream Financial Institutions Act of 2009
Latest action · Apr 2, 2009 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4317)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 2, 2009
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Improving Access to Mainstream Financial Institutions Act of 2009 - Authorizes the Secretary of the Treasury to award grants, including multi-year grants, to specified eligible entities to establish an account in a federally insured depository institution for low- and moderate-income individuals who currently do not have such an account. Includes among such eligible entities: (1) Alaska Native Corporations; (2) Native Hawaiian organizations; and (3) labor organizations.
Authorizes the Secretary to award demonstration project grants to eligible entities to provide low-cost, small loans to consumers that will provide alternatives to more costly, predatory payday loans. Requires such entities to be: (1) tax-exempt charitable organizations; (2) federally insured depository institutions; (3) community development financial institutions; or (4) partnerships comprised of one or more of such entities. Requires grant recipients to offer financial literacy and education opportunities to each consumer provided with a loan pursuant to this Act.
Cosponsors 3
Members who signed on, in the order they did. All signed on Apr 2, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Charles E. Schumer | Original | Apr 2, 2009 |
| D-HI | Daniel K. Inouye | Original | Apr 2, 2009 |
| D-CT | Joseph I. Lieberman | Original | Apr 2, 2009 |
Actions 3
Everything that happened, newest first.
- Apr 2, 2009Introduced in Senate
- Apr 2, 2009Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4317)
- Apr 2, 2009Sponsor introductory remarks on measure. (CR S4316-4317)
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 2, 2009Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.