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HR2890119th CongressWALLET

Financial Inclusion in Banking Act of 2025

Sponsored By: Representative Scott, David [D-GA-13]

Introduced

Summary

Creates an Office of Community Affairs at the Consumer Financial Protection Bureau to study and promote banking access for under-banked, unbanked, and underserved consumers. It would lead research, coordinate with federal agencies, consult stakeholders, and propose strategies to increase financial education and participation.

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  • Families and low- and moderate-income households: The Office would research why people start or stop banking relationships and recommend ways to improve access and financial education for these groups.
  • Depository institutions including minority depository institutions: The Office would consult trade associations and community banks to identify practical barriers and solutions to increase outreach and service.
  • Federal agencies and Congress: The Office would coordinate with other Bureau units and federal departments and deliver a report to Congress within two years and every two years after that. Reports should be timed, when possible, to avoid years the FDIC issues its own unbanked report.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

New consumer bureau office for banking access

If enacted, the Consumer Financial Protection Bureau would set up an Office of Community Affairs. The office would study why people do not open or keep bank accounts. It would meet with banks, minority depository institutions, community and civil rights groups, and the Consumer Advisory Board. It would work with other federal agencies and develop more financial education for under-banked and un-banked consumers. The office must report to Congress within two years, then every two years after. When possible, reports would come in years without the FDIC section 49 unbanked report.

Sponsors & CoSponsors

Sponsor

Scott, David [D-GA-13]

GA • D

Cosponsors

  • Rep. Kim, Young [R-CA-40]

    CA • R

    Sponsored 4/10/2025

  • Rep. Nunn, Zachary [R-IA-3]

    IA • R

    Sponsored 10/3/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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