To provide for the Federal charter of certain public banks, and for other purposes.
About This Bill
Committee
Latest Action · October 30, 2020
Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Public Banking Act of 2020
This bill provides for the establishment of public banks. Among other things, the bill
allows public banks to become members of the Federal Reserve; establishes loan facilities for public banks; prohibits the investment in fossil fuels by public banks; allows for the establishment of securities issued by public banks; provides for the establishment of public banks at U.S. post offices; and provides grants for the formation, chartering, and capitalization of public banks.
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