An Act amending Title 7 (Banks and Banking) of the Pennsylvania Consolidated Statutes, providing for community reinvestment, for community reinvestment by banks and for community reinvestment by nonbank entities.

SB 119 amends Pennsylvania's banking laws to establish requirements for community reinvestment by banks and nonbank financial entities operating in the state. It mandates banks to report loan data, maintain public files with performance evaluations, and display community reinvestment notices in branches, while requiring nonbank entities to follow similar standards. The law aligns Pennsylvania's rules with federal community reinvestment principles (like the CRA), directing the Department of Banking to assess banks' efforts to meet credit needs in low- and moderate-income neighborhoods. This directly affects all banks and qualifying nonbank entities conducting business in Pennsylvania under state oversight.