Section 1 Short title
This Act may be cited as the “Community Investment and Prosperity Act”.
Community Investment and Prosperity Act
A BILL
To allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments that a national banking association and a State member bank may make to promote the public welfare, and for other purposes.
Sec. 2 Investments to promote the public welfare
Revised Statutes— The paragraph designated as the “Eleventh” of section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) is amended, in the fifth sentence, by striking “15” each place the term appears and inserting “20”.
Federal Reserve Act— The 23rd paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended, in the fifth sentence, by striking “15” each place the term appears and inserting “20”.