The Community Investment and Prosperity Act increases the amount of money that national banks and state member banks can invest in projects designed to promote public welfare and community benefit. Specifically, the bill raises the investment limit from 15 percent to 20 percent of a bank's capital and surplus, giving banks greater flexibility to fund community development projects. This legislation affects all federally regulated national banks and state member banks of the Federal Reserve System. The bill makes technical amendments to existing banking law without establishing new funding requirements or spending timelines—it simply removes a regulatory cap that currently restricts how much banks can dedicate to public welfare investments. The changes are administered by the Comptroller of the Currency and the Federal Reserve's Board of Governors.
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