# 116-hr-8410: Promoting Access to Capital in Underbanked Communities Act of 2020

116-hr-8410, Promoting Access to Capital in Underbanked Communities Act of 2020, is a 116th Congress bill sponsored by Rep. Barr, Andy [R-KY-6] (R-KY); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-8410
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-8410
- Congress: 116
- Title: Promoting Access to Capital in Underbanked Communities Act of 2020
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-09-29
- Sponsor: Rep. Barr, Andy [R-KY-6] (R-KY)
- Cosponsors: 3
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Promoting Access to Capital in Underbanked Communities Act of 2020 This bill eliminates and reduces certain requirements applicable to new financial institutions, certain rural community banks, and federal savings associations. Federal banking agencies must issue rules allowing new financial institutions three years to meet capital requirements. During this period, a financial institution may request to deviate from an approved business plan and the appropriate agency has 30 days to approve or deny the request. The community bank leverage ratio—a way of evaluating debt levels—is reduced for certain rural community banks. Specifically, new rural community banks must have a ratio of 8%, with a three-year phase-in of the rate. Currently, the ratio must not be less than 8% and not more than 10%. The bill removes certain restrictions to allow federal savings associations to invest in, sell, or otherwise deal in agricultural loans.

## Cosponsors (3)

- Rep. Riggleman, Denver [R-VA-5] (R-VA), 2020-09-29T00:00:00.000Z
- Rep. Stivers, Steve [R-OH-15] (R-OH), 2020-09-29T00:00:00.000Z
- Rep. Steil, Bryan [R-WI-1] (R-WI), 2020-09-30T00:00:00.000Z

## Related bills

- 116-hr-7777: Paycheck Protection Small Business Forgiveness Act
- 116-hr-7278: JUSTICE Act
- 116-hr-7029: Protect our Children from COVID–19 Act
- 116-hr-6269: Insured Depository Institution Business Continuity Planning Act of 2020
- 116-hr-6242: SEC Relief to Slow the Spread of Coronavirus Act of 2020
- 116-hr-6116: Consumer Financial Protection Commission Act

## Sources
- [116-hr-8410 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/8410)

## Related
- [116-hr-7777: Paycheck Protection Small Business Forgiveness Act](https://policyrisk.com/legislation/116-hr-7777)
- [116-hr-7278: JUSTICE Act](https://policyrisk.com/legislation/116-hr-7278)
- [116-hr-7029: Protect our Children from COVID–19 Act](https://policyrisk.com/legislation/116-hr-7029)
- [116-hr-6269: Insured Depository Institution Business Continuity Planning Act of 2020](https://policyrisk.com/legislation/116-hr-6269)
- [116-hr-6242: SEC Relief to Slow the Spread of Coronavirus Act of 2020](https://policyrisk.com/legislation/116-hr-6242)
- [116-hr-6116: Consumer Financial Protection Commission Act](https://policyrisk.com/legislation/116-hr-6116)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-8410 (as of 2025-11-18).