This joint resolution nullifies a rule published on June 5, 2020, by the Office of the Comptroller of the Currency within the Department of the Treasury.
The rule generally revises the office's implementation of the Community Reinvestment Act (CRA), which requires banks to serve the credit needs of low- and moderate-income communities. Under the CRA, a bank receives credit, which influences the bank's performance rating, for conducting specified activities related to this requirement in designated assessment areas.
Among other things, the rule revises qualifying CRA activities, sets forth new procedures for determining if an activity qualifies under the CRA, and expands designated assessment areas.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 90 Introduced in House (IH)]
<DOC>
116th CONGRESS
2d Session
H. J. RES. 90
Providing for congressional disapproval under chapter 8 of title 5,
United States Code, of the rule submitted by the Office of the
Comptroller of the Currency relating to ``Community Reinvestment Act
Regulations''.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 11, 2020
Ms. Waters (for herself and Mr. Meeks) submitted the following joint
resolution; which was referred to the Committee on Financial Services
_______________________________________________________________________
JOINT RESOLUTION
Providing for congressional disapproval under chapter 8 of title 5,
United States Code, of the rule submitted by the Office of the
Comptroller of the Currency relating to ``Community Reinvestment Act
Regulations''.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That Congress disapproves the
rule submitted by the Office of the Comptroller of the Currency
relating to ``Community Reinvestment Act Regulations'' (85 Fed. Reg.
34734; published June 5, 2020), and such rule shall have no force or
effect.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Rules Committee Resolution H. Res. 1017 Reported to House. Rule provides for consideration of H.R. 1425, H.R. 5332, H.R. 7120, H.R. 7301 and H.J. Res. 90. The resolution provides that the provisions of section 125(c) of the Uruguay Round Agreements Act shall not apply during the remainder of the 116th Congress and the resolution amends H.Res. 967, agreed to on May 15, 2020.
Rule H. Res. 1017 passed House.
Considered under the provisions of rule H. Res. 1017. (consideration: CR H2571-2580; text: CR H2571)
Rule provides for consideration of H.R. 1425, H.R. 5332, H.R. 7120, H.R. 7301 and H.J. Res. 90. The resolution provides that the provisions of section 125(c) of the Uruguay Round Agreements Act shall not apply during the remainder of the 116th Congress and the resolution amends H.Res. 967, agreed to on May 15, 2020.
DEBATE - The House proceeded with one hour of debate on H.J. Res. 90.
The previous question was ordered pursuant to the rule.
POSTPONED PROCEEDINGS - At the conclusion of debate on H.J. Res. 90, the Chair put the question on passage of the joint resolution and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings on the joint resolution.
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Considered as unfinished business. (consideration: CR H2668-2669)
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 230 - 179 (Roll no. 129).(text: 06/26/2020 CR H2571)
Roll Call #129 (House)On passage Passed by the Yeas and Nays: 230 - 179 (Roll no. 129). (text: 06/26/2020 CR H2571)
Roll Call #129 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate.
Motion to proceed to consideration of measure made in Senate. (CR S6052)
Motion to proceed to consideration of measure rejected in Senate by Yea-Nay Vote. 43 - 48. Record Vote Number: 201.
Roll Call #201 (Senate)