Supporting Community Lenders Act
This bill establishes a new Office of Community Financial Institutions within the Small Business Administration to specifically support community lenders serving small businesses. It requires the appointment of a Director with expertise in underserved communities to develop programs, coordinate with federal agencies like the Treasury and FDIC, and provide technical assistance to community lenders. The Director must hold public meetings annually and submit detailed reports to Congress every three years on the office's activities and recommendations. This directly affects community financial institutions and small business owners in areas with limited access to capital, aiming to improve their economic opportunities through targeted federal support.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jun 2023
Committee Review
Floor Vote
President
Introduced Jun 21, 2023
Last action Jul 25, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
2
Committee
3
Jul 25, 2023
Upper · Passed
Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.
upper
Jul 19, 2023
Upper · Passed
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
upper
Jun 21, 2023
Committee
Read twice and referred to the Committee on Small Business and Entrepreneurship.
upper
Jun 21, 2023
Introduced
Introduced in Senate
upper
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
John W. Hickenlooper
DDemocratic
Co
Cindy Hyde-Smith
RRepublican
Co
Mark R. Warner
DDemocratic
Co
Mike Braun
RRepublican
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