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Bill

S 2327

Federal Reserve Transparency Act of 2025

119th Congress Introduced by John Barrasso and 6 co-sponsors

Bill S 2327 allocates 10% of financial penalties to community development financial institutions, boosting support for underserved communities and promoting economic growth.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 2327

Summary of Bill S 2327

Bill Overview

  • Bill Number: S 2327
  • Title: Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund
  • Status: Reported and Committed to Finance
  • Introduced On: January 16, 2025
  • Classification: Bill

Purpose and Intent

Bill S 2327 aims to enhance funding for community development financial institutions (CDFIs) by mandating that 10% of penalties collected by the superintendent of financial services be allocated to the CDFI fund. This initiative is designed to support financial institutions that provide services to underserved communities, thereby promoting economic development and financial inclusion.

Key Provisions

  • Penalty Allocation: The bill specifies that 10% of all penalties imposed by the superintendent of financial services will be directed to the community development financial institution fund.
  • Support for CDFIs: The funding is intended to bolster the operations of CDFIs, which play a crucial role in providing affordable financial services to low-income and marginalized populations.

Impact

  • Beneficiaries: The primary beneficiaries of this bill will be community development financial institutions, which serve as vital resources for individuals and businesses in economically disadvantaged areas.
  • Economic Development: By increasing the financial resources available to CDFIs, the bill is expected to foster economic growth and stability in communities that have historically faced barriers to accessing capital.

Legislative Actions

  • January 16, 2025: The bill was introduced and referred to the Banks Committee.
  • February 4, 2025: The bill was reported and committed to the Finance Committee for further consideration.

Related Bills

  • S 6560 (prior-session)
  • S 3212 (prior-session)
  • S 3676 (prior-session)
  • S 1492 (prior-session)
  • A 3144 (companion bill)

This summary provides a concise overview of Bill S 2327, highlighting its purpose, key provisions, and potential impact on community development financial institutions and the communities they serve.

Compiled from official sources — confirm details with the bill’s official record.

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