The Community Investment and Prosperity Act increases the amount of money that national banks and state member banks can invest in projects that serve the public welfare. Specifically, the bill raises the investment limit from 15 percent to 20 percent of a bank's capital and surplus, giving these financial institutions greater flexibility to fund community development initiatives. The changes apply to both national banks regulated by the Comptroller of the Currency and state member banks overseen by the Federal Reserve Board of Governors. The bill contains no specific funding allocations or implementation timelines, as it simply adjusts existing regulatory limits to encourage greater community investment by banks.
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