To establish an Office of the Community Development Advocate for the Community Development Financial Institutions Fund, to establish a process for decertification of community development financial institutions, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To establish an Office of the Community Development Advocate for the Community Development Financial Institutions Fund, to establish a process for decertification of community development financial institutions, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Housing.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H36AE6BE127654D3D9B0D56F336AD403A: 1. Short title This Act may be cited as the Rural Credit Access Act of 2024.
- Section H2C70EB230E5D4E36B61424D6EBC9BA6F: 2. Sense of Congress It is the sense of Congress that— community development financial institutions are financial institutions that seek to expand economic...
- Section HF370BF27F62A4106AAE6A0FF0CA44C9F: 3. Establishment of an Office of the Community Development Advocate the Community Development Financial Institutions Fund Section 104 of the Riegle Community...
- Section HE82002ECEC4446D9B5AEB55EF3FF4120: 4. Process for decertification of community development financial institutions Section 119(a) of the Riegle Community Development and Regulatory Improvement...
- Section H18C72B5462094E7094B9A28AB78AFCC8: 5. Authorization of appropriations There is authorized to be appropriated $1,000,000 to the Administrator of the Community Development Financial Institutions...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To establish an Office of the Community Development Advocate for the Community Development Financial Institutions Fund, to establish a process for decertification of community development financial institutions, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Housing
Primary Purpose
This bill, To establish an Office of the Community Development Advocate for the Community Development Financial Institutions Fund, to establish a process for decertification of community development financial institutions, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Nunn of Iowa (for himself and Mr. Davis of …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_administrator"
- → The Administrator identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology