The bipartisan Community Investment and Prosperity Act ... would increase a statutory cap limiting banks’ investments in community development projects, which will unlock billions in capital for affordable housing, small businesses, financial education, and other economic development needs in communities that need it the most.
Raise the statutory cap limiting banks’ investments in community development projects to unlock additional capital for affordable housing, small businesses, financial education, and other local economic development.
Occurrences
Evidence
The Senate-passed version of H.R. 6644 includes Title II, section 204, the Community Investment and Prosperity Act. The related Senate press release states the package passed 89-10 and that this bill increases the cap on capital investment a bank can make in community development projects.
Congress.gov lists S.2464 as introduced July 24, 2025, with Sen. Blunt Rochester among the original sponsors. The bill amends 12 U.S.C. 24 and 12 U.S.C. 338a by replacing the 15 percent public welfare investment cap with 20 percent. Its standalone status is only introduced and referred to Senate Banking.
Blunt Rochester's Senate office described the Community Investment and Prosperity Act as legislation to raise the cap on banks' community development investments and said the measure would open capital for affordable housing, small businesses, financial literacy, and local development needs.
The Senate-engrossed amendment to H.R. 6644 includes Sec. 204, Community Investment and Prosperity Act, and amends both the National Bank Act and Federal Reserve Act by striking 15 and inserting 20.
The Senate roll call records passage of H.R. 6644, as amended, by 89 yeas to 10 nays on March 12, 2026. Blunt Rochester is listed as voting Yea.
The House Clerk records H. Res. 1299 passing 396-13 on May 20, 2026, to concur in the Senate amendment to H.R. 6644 with a further House amendment.
The House Financial Services Committee said the House-passed resolution amends the Senate-passed bill and includes restored community banking provisions. Its leaders urged the Senate to act so the amended bill could reach the President and become law.
The House Clerk recorded that on May 20, 2026 the House passed the motion to concur in the Senate amendment to H.R. 6644 with a further House amendment, 396-13. That kept the measure in the legislative process and sent an amended version back to the Senate.
Congress.gov's bill page still shows H.R. 6644 with status 'Passed House' and lists the latest action as receipt in the Senate, with no law status shown on the overview page.
Assessments
Blunt Rochester materially advanced the promise in her current Senate term by original-sponsoring S.2464 to raise the bank public-welfare investment cap from 15% to 20% and by voting for the broader housing package that incorporated that change. But the official legislative record as of June 20, 2026 still does not show enactment: H.R. 6644 passed the Senate and then the House amended the Senate version again, sending it back for further action. Because the promised statutory cap increase has not yet become law, the outcome is not delivered; since she is still in office and the measure remains pending, this is best scored as unresolved rather than never.
Blunt Rochester materially advanced the promise by co-leading the Senate Community Investment and Prosperity Act, which would raise the public welfare investment cap from 15% to 20%, and the provision was included in the Senate-passed 21st Century ROAD to Housing Act. However, as of May 23, 2026, the relevant H.R. 6644 package had not become law; after House action on May 21, it was still awaiting further Senate action before presentment. Because the statutory cap has not actually been raised yet, the promised outcome is not delivered, but there is clear serious legislative effort during the same federal term.