Public Banking Act of 2020

Bill Number

HR 8721

Introduced

Oct 30, 2020

Latest Action

Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Reform, for a period ...

Sponsor

Cosponsors

Topics

Air quality Bank accounts, deposits, capital Business expenses Business records Civil actions and liability Climate change and greenhouse gases Consumer credit Corporate finance and management Credit and credit markets Currency Digital media Federal Reserve System Finance and Financial Sector Financial services and investments Government corporations and government-sponsored enterprises Housing and community development funding Insurance industry and regulation Interest, dividends, interest rates Licensing and registrations Oil and gas Securities U.S. Postal Service User charges and fees Wages and earnings

Full Text

Votes

Summary

Public Banking Act of 2020

This bill provides for the establishment of public banks. Among other things, the bill

allows public banks to become members of the Federal Reserve;
establishes loan facilities for public banks;
prohibits the investment in fossil fuels by public banks;
allows for the establishment of securities issued by public banks;
provides for the establishment of public banks at U.S. post offices; and
provides grants for the formation, chartering, and capitalization of public banks.

Actions

Oct 30, 2020

Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Oct 30, 2020

Introduced in House

Amendments

Related Bills