,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #ijei  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,decemb] #ca1         
#bjbj,mr4 ,k5n$y 7= himself & ,mr4      
,cicill9e7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,f9ancial   
,s]vices  ,a ,,bill  ,to require ,f$]al 
f9ancial sup]visory ag5cies to evaluate 
a f9ancial in/itution's record ( meet+  
community environm5tally su/a9able      
inve/m5t ne$s z "p ( exam9ations1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,climate ,protection & 
,su/a9able ,communities ,act4  #b4      
,congressional f9d+s & /atem5t ( purpose
  7a7 ,f9d+s ,congress f9ds ! foll[+3   
7#a7 ,f9ancial in/itutions t are f$]ally
 regulat$ & sup]vis$ h an obligation to 
s]ve ! conv5i5ce & ne$s ( ! entire      
community1 consi/5t ) safe & s\nd       
op]ations4 ,^! in/itutions include1 b   
are n limit$ to1 insur$ depository      
in/itutions 7& _! hold+ companies1 if   
any71 inve/m5t advis]s1 brok] deal]s1   
insur]s1 non-bank l5d]s1 cr$it unions1  

inve/m5t companies1 & o!r f9ancial      
in/itutions ( significant size &        
op]ations4  7#b7 ,! conv5i5ce & ne$s (  
communities include ! ne$ =             
environm5tally su/a9able inve/m5t       
because-- 7,a7 ^! f9ancial in/itutions  
h1 z a result ( _! inve/m5t1 l5d+1 & o!r
 activities1 contribut$ to climate *ange
 & its effects1 & !re=e h a             
responsibility to act to mitigate       
climate *ange2 &  7,b7 ^! f9ancial      
in/itutions receive ,f$]al b5efits n    
available to o!r types ( bus9esses1     
includ+-- 7i7 support = ,unit$ ,/ates   
,treasury bond m>kets1 includ+          
extraord9>y commitm5ts to pur*ase su*   
bonds s9ce ! onset ( ! ,,covid-#ai heal?
 crisis2  7ii7 access to ! ,f$]al       
,res]ve ,disc\nt ,w9d[ & o!r special    
l5d+ facilities e/abli%$ by ! ,bo>d (   
,gov]nors ( ! ,f$]al ,res]ve ,sy/em &   
support$ by ! ,treasury dep>tm5t2  7iii7
 measures to ma9ta9 effici5t1 transp>5t1
 & competitive m>kets2  7iv7 regulatory 
relief dur+ times ( /ress 9 ! f9ancial  

sy/em1 su* z ! ongo+ ,,covid-#ai heal?  
crisis2 &  7v7 o!r actions to ensure    
f9ancial /ability & mitigate risk to !  
f9ancial sy/em z a :ole4  7#c7 ,regulat$
 f9ancial in/itutions h cont9u+ &       
affirmative obligation to help meet !   
environm5tally su/a9able inve/m5t ne$s (
 ! local communities 9 :i* !y are *>t]$4
  7#d7 ,regulat$ f9ancial in/itutions   
%\ld reflect ! communities :i* !y s]ve1 
:i* includes p ( color & wom54  7b7     
,purpose ,x is ! purpose ( ?is ,act to  
require cov]$ f9ancial in/itutions t are
 regulat$ & sup]vis$ by "o or m         
appropriate f9ancial regulators to meet 
! environm5tally su/a9able inve/m5t ne$s
 ( ! entire community1 consi/5t ) ! safe
 & s\nd op]ation ( su* in/itutions4  #c4
 ,def9itions  7a7 ,9 g5]al ,9 ?is ,act3 
7#a7 ,application = a deposit facility  
,! t]m application = a deposit facility 
means an application to ! appropriate   
f9ancial regulator o!rwise requir$ "u   
,f$]al law or regulations !reund] =--   
7,a7 a *>t] = a national bank or ,f$]al 

sav+s & loan association2  7,b7 deposit 
insurance 9 connection ) a newly *>t]$  
,/ate bank1 sav+s bank1 sav+s & loan    
association or simil> in/itution2  7,c7 
! e/abli%m5t ( a dome/ic bran* or o!r   
facility ) ! ability to accept deposits 
( a regulat$ f9ancial in/itution2  7,d7 
! relocation ( ! home (fice or a bran*  
(fice ( an insur$ depository in/itution 
7z def9$ 9 section #c ( ! ,f$]al        
,deposit ,insurance ,act72  7,e7 ! m]g] 
or consolidation )1 or ! acquisition ( !
 assets1 or ! assumption ( ! liabilities
 ( an insur$ depository in/itution      
requir+ approval "u section #ah7;c7 ( ! 
,f$]al ,deposit ,insurance ,act or "u   
regulations issu$ "u ! au?ority ( title 
,,iv ( ! ,national ,h\s+ ,act2 or  7,f7 
! acquisition ( %>es 91 or ! assets (1  
an insur$ depository in/itution requir+ 
approval "u section #c ( ! ,bank ,hold+ 
,company ,act ( #aief or section        
#djh7;e7 ( ! ,national ,h\s+ ,act4  7#b7
 ,appropriate f9ancial regulator ,! t]m 
appropriate f9ancial regulator has !    

mean+ giv5 9 section #hjc ( ! ,paym5t1  
,cle>+1 & ,settlem5t ,sup]vision ,act ( 
#bjaj 7#ab ,u4,s4,c4 #edfb74  7#c7      
,cov]$ f9ancial in/itution ,! t]m cov]$ 
f9ancial in/itution means-- 7,a7 an     
insur$ depository in/itution 7z def9$ 9 
section #c ( ! ,f$]al ,deposit          
,insurance ,act 7#ab ,u4,s4,c4 #ahac772 
7,b7 a depository in/itution hold+      
company 7z def9$ 9 su* section72  7,c7  
an inve/m5t advis] or inve/m5t company  
7z def9$ 9 section #bjb ( ! ,inve/m5t   
,advis]s ,act ( #aidj 7#ae ,u4,s4,c4    
#hj;b-#b772  7,d7 a cov]$ brok] or deal]
 7z def9$ 9 section #bja7;a77#g7 ( !    
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7#ab ,u4,s4,c4
 #echa7;a77#g7772  7,e7 admitt$ insur]s2
  7,f7 an insur$ cr$it union 7z def9$ 9 
section #aja ( ! ,f$]al ,cr$it ,union   
,act 7#ab ,u4,s4,c4 #ageb772  7,g7 a    
non-bank l5d]2 &  7,h7 any entity t has 
be5 id5tifi$ z sy/emically important by 
! ,f9ancial ,/ability ,ov]sight ,c\ncil4
  7#d7 ,environm5tally su/a9able        

inve/m5t ,! t]m environm5tally su/a9able
 inve/m5t means inve/m5ts1 loans1 & o!r 
f9ancial products or s]vices t support  
climate mitigation & adaptation ef=ts1  
ent]prises1 & projects ^: impacts h be5 
evaluat$ to equitably & su/a9ably       
advance social & environm5tal welf>e4   
7b7 ,application ( entire community ,=  
purposes ( ?is ,act1 ) respect to a     
cov]$ f9ancial in/itution ^: bus9ess    
pr$om9ately consi/s ( s]v+ ! ne$s (     
milit>y p]sonnel :o are n locat$ )9 a   
def9$ geographic area1 su* cov]$        
f9ancial in/itution may def9e ! t]m     
entire community to include ! entire    
deposit cu/om] base )\t reg>d to        
geographic proximity to ! cov]$ f9ancial
 in/itution4  #d4 ,assessm5t ( cov]$    
f9ancial in/itutions  7a7 ,9 g5]al      
,except z provid$ 9 section #f1 n less  
?an once e #bd mon?s an appropriate     
f9ancial regulator %all assess ! record 
( a cov]$ f9ancial in/itution ( meet+ ! 
environm5tally su/a9able inve/m5t ne$s (
 ! entire community ( su* in/itution1   

includ+ l[- & mod]ate-income            
neighborhoods1 consi/5t ) ! safe & s\nd 
op]ation ( su* in/itution4  7b7         
,requirem5ts = cov]$ f9ancial           
in/itutions  7#a7 ,rat+  7,a7 ,9 g5]al  
,a cov]$ f9ancial in/itution t receiv$ a
 rat+ describ$ 9 subp>agraph 7,c71 7,d71
 or 7,e7 ( section #e7;b77#b7 %all1 )9 !
 #ab-mon? p]iod beg9n+ on ! date (      
receipt ( su* rat+1 take su* action z   
may be necess>y 9 ord] = su* in/itution 
to a*ieve a rat+ ( satisfactory record (
 meet+ community environm5tally         
su/a9able inve/m5t ne$s4  7,b7 ,p5alty  
,a cov]$ f9ancial in/itution t fails to 
meet ! requirem5ts ( subp>agraph 7,a7   
%all be subject to su* p5alties z       
det]m9$ appropriate by ! appropriate    
f9ancial regulator ( su* in/itution4    
7#b7 ,approval ( reque/s ,) respect to  
any reque/ submitt$ by a cov]$ f9ancial 
in/itution to ! appropriate f9ancial    
regulator to take an action t requires !
 approval ( ! regulator1 ! appropriate  
f9ancial regulator may only approve su* 

reque/ if ! cov]$ f9ancial in/itution   
receiv$ a rat+ ( satisfactory record (  
meet+ community environm5tally su/a9able
 inve/m5t ne$s or bett] dur+ ! mo/ rec5t
 exam9ation ( ! cov]$ f9ancial          
in/itution "u ?is section4  7c7         
,majority-,own$ in/itutions ,9 assess+ &
 tak+ into acc\nt1 "u subsection 7a71 ! 
record ( a nonm9ority-own$ &            
nonwom5-own$ cov]$ f9ancial in/itution1 
! appropriate f9ancial regulator may    
consid] z a factor capital inve/m5t1    
loan p>ticipation1 & o!r v5tures        
und]tak5 by su* cov]$ f9ancial          
in/itution 9 coop]ation ) m9ority- &    
wom5-own$ f9ancial in/itutions &        
l[-income cr$it unions1 if su*          
activities help meet ! environm5tally   
su/a9able inve/m5t ne$s ( ! local       
communities 9 :i* su* cov]$ f9ancial    
in/itution is *>t]$4  7d7 ,f9ancial     
,hold+ ,company ,requirem5t  7#a7 ,9    
g5]al ,an election by a bank hold+      
company to become a f9ancial hold+      
company "u section #d ( ! ,bank ,hold+  

,company ,act ( #aief %all n be         
effective if-- 7,a7 ! ,bo>d f9ds t1 z ( 
! date ! decl>ation ( su* election & !  
c]tification is fil$ by su* hold+       
company "u section #d7l77#a77;,c7 ( !   
,bank ,hold+ ,company ,act ( #aief1 n   
all ( ! subsidi>y insur$ depository     
in/itutions ( ! bank hold+ company _h   
a*iev$ a rat+ ( satisfactory record (   
meet+ community environm5tally su/a9able
 inve/m5t ne$s1 or bett]1 at ! mo/ rec5t
 exam9ation ( ea* su* in/itution2 &     
7,b7 ! ,bo>d notifies ! company ( su*   
f9d+ be=e ! end ( ! #cj-;day p]iod      
beg9n+ on su* date4  7#b7 ,limit$       
exclusions = newly acquir$ insur$       
depository in/itutions ,any insur$      
depository in/itution acquir$ by a bank 
hold+ company dur+ ! #ab-mon? p]iod     
prec$+ ! date ( ! submission to ! ,bo>d 
( ! decl>ation & c]tification "u section
 #d7l77#a77;,c7 ( ! ,bank ,hold+        
,company ,act ( #aief may be exclud$ =  
purposes ( p>agraph 7#a7 dur+ ! #ab-mon?
 p]iod beg9n+ on ! date ( su*           

acquisition if-- 7,a7 ! bank hold+      
company has submitt$ an affirmative plan
 to ! appropriate f9ancial regulator to 
take su* action z may be necess>y 9 ord]
 = su* in/itution to a*ieve a rat+ (    
satisfactory record ( meet+ community   
environm5tally su/a9able inve/m5t ne$s1 
or bett]1 at ! next exam9ation ( !      
in/itution2 &  7,b7 ! plan has be5      
accept$ by su* ag5cy4  7#c7 ,def9itions 
,= purposes ( ?is subsection1 ! foll[+  
def9itions %all apply3 7,a7 ,bank hold+ 
company2 f9ancial hold+ company ,! t]ms 
bank hold+ company & f9ancial hold+     
company h ! mean+s giv5 ^? t]ms 9       
section #b ( ! ,bank ,hold+ ,company    
,act ( #aief4  7,b7 ,bo>d ,! t]m ,bo>d  
means ! ,bo>d ( ,gov]nors ( ! ,f$]al    
,res]ve ,sy/em4  7,c7 ,insur$ depository
 in/itution ,! t]m insur$ depository    
in/itution has ! mean+ giv5 ! t]m 9     
section #c7;c7 ( ! ,f$]al ,deposit      
,insurance ,act4  #e4 ,writt5           
evaluations  7a7 ,requir$  7#a7 ,9 g5]al
 ,^u ! conclusion ( ea* exam9ation ( a  

cov]$ f9ancial in/itution "u section #d1
 ! appropriate f9ancial regulator %all  
prep>e a writt5 evaluation ( !          
in/itution's record ( meet+ !           
environm5tally su/a9able inve/m5t ne$s (
 its entire community1 includ+ l[- &    
mod]ate-income neighborhoods4  7#b7     
,public & confid5tial sections ,ea*     
writt5 evaluation requir$ "u p>agraph   
7#a7 %all h a public section & a        
confid5tial section4  7b7 ,public       
,section ( ,report  7#a7 ,f9d+s &       
conclusions  7,a7 ,cont5ts ( writt5     
evaluation ,! public section ( ! writt5 
evaluation %all-- 7i7 /ate ! appropriate
 f9ancial regulator's conclusions = ea* 
assessm5t factor id5tifi$ 9 !           
regulations prescrib$ by su* appropriate
 f9ancial regulator to implem5t ?is     
,act2  7ii7 discuss ! facts & data      
support+ su* conclusions2 &  7iii7      
conta9 ! rat+ ( ! cov]$ f9ancial        
in/itution & a /atem5t describ+ ! basis 
= ! rat+4  7,b7 ,metropolitan area      
di/9ctions ,! in=mation requir$ by      

clauses 7i7 & 7ii7 ( subp>agraph 7,a7   
%all be pres5t$ sep>ately = ea*         
metropolitan area 9 :i* a cov]$ f9ancial
 in/itution ma9ta9s "o or m dome/ic     
bran* (fices4  7#b7 ,assign$ rat+ ,!    
rat+ ( a cov]$ f9ancial in/itution      
ref]r$ to 9 p>agraph 7#a77;,a77iii7 %all
 be "o ( ! foll[+3 7,a7 ,out/&+ record (
 meet+ community environm5tally         
su/a9able inve/m5t ne$s4  7,b7          
,satisfactory record ( meet+ community  
environm5tally su/a9able inve/m5t ne$s4 
7,c7 ,suffici5t record ( meet+ community
 environm5tally su/a9able inve/m5t ne$s4
  7,d7 ,ne$s to improve record ( meet+  
community environm5tally su/a9able      
inve/m5t ne$s4  7,e7 ,sub/antial        
noncompliance 9 meet+ community         
environm5tally su/a9able inve/m5t ne$s4 
7c7 ,confid5tial ,section ( ,report     
7#a7 ,privacy ( nam$ individuals ,!     
confid5tial section ( ! writt5          
evaluation %all conta9-- 7,a7 all       
ref]5ces t id5tify any cu/om] ( ! cov]$ 
f9ancial in/itution1 any employee or    

(fic] ( su* in/itution1 or any p]son or 
organization t has provid$ in=mation 9  
confid5ce to a ,f$]al or ,/ate f9ancial 
sup]visory ag5cy2 &  7,b7 any /atem5ts  
obta9$ or made by ! appropriate f9ancial
 regulator 9 ! c\rse ( an exam9ation    
:i*1 9 ! judgm5t ( ! regulator1 are too 
s5sitive or speculative 9 nature to     
disclose to ! cov]$ f9ancial in/itution 
or ! public4  7#b7 ,disclosure to       
depository in/itution ,! confid5tial    
section may be disclos$1 9 :ole or "p1  
to ! cov]$ f9ancial in/itution1 if !    
appropriate f9ancial regulator det]m9es 
t su* disclosure w promote ! objectives 
( ?is ,act4 ,h[ev]1 disclosure "u ?is   
p>agraph %all n id5tify a p]son or      
organization t has provid$ in=mation 9  
confid5ce to a ,f$]al or ,/ate f9ancial 
sup]visory ag5cy4  7d7 ,in/itutions ,)  
,int]/ate ,bran*es  7#a7 ,/ate-by-/ate  
evaluation ,9 ! case ( a cov]$ f9ancial 
in/itution t ma9ta9s dome/ic bran*es 9  
#b or m ,/ates1 ! appropriate f9ancial  
regulator %all prep>e-- 7,a7 a writt5   

evaluation ( ! entire in/itution's      
record ( p]=mance "u ?is title1 z       
requir$ by subsections 7a71 7b71 & 7c72 
&  7,b7 = ea* ,/ate 9 :i* ! in/itution  
ma9ta9s #a or m dome/ic bran*es1 a      
sep>ate writt5 evaluation ( !           
in/itution's record ( p]=mance )9 su*   
,/ate "u ?is title1 z requir$ by        
subsections 7a71 7b71 & 7c74  7#b7      
,multi/ate metropolitan areas ,9 ! case 
( a cov]$ f9ancial in/itution t ma9ta9s 
dome/ic bran*es 9 #b or m ,/ates )9 a   
multi/ate metropolitan area1 !          
appropriate f9ancial regulator %all     
prep>e a sep>ate writt5 evaluation ( !  
in/itution's record ( p]=mance )9 su*   
metropolitan area "u ?is title1 z       
requir$ by subsections 7a71 7b71 & 7c74 
,if ! appropriate f9ancial regulator    
prep>es a writt5 evaluation pursuant to 
?is p>agraph1 ! scope ( ! writt5        
evaluation requir$ "u p>agraph 7#a77;,b7
 %all be adju/$ accord+ly4  7#c7 ,cont5t
 ( ,/ate-level evaluation ,a writt5     
evaluation prep>$ pursuant to p>agraph  

7#a77;,b7 %all-- 7,a7 pres5t ! in=mation
 requir$ by subp>agraphs 7,a7 & 7,b7 (  
subsection 7b77#a7 sep>ately = ea*      
metropolitan area 9 :i* ! cov]$ f9ancial
 in/itution ma9ta9s #a or m dome/ic     
bran* (fices & sep>ately = ! rema9d] ( !
 nonmetropolitan area ( ! ,/ate if !    
cov]$ f9ancial in/itution ma9ta9s #a or 
m dome/ic bran* (fices 9 su*            
nonmetropolitan area2 &  7,b7 describe  
h[ ! appropriate f9ancial regulator has 
p]=m$ ! exam9ation ( ! cov]$ f9ancial   
in/itution1 includ+ a li/ ( ! individual
 bran*es exam9$4  7e7 ,def9itions ,=    
purposes ( ?is section ! foll[+         
def9itions %all apply3 7#a7 ,dome/ic    
bran* ,! t]m dome/ic bran* means any    
bran* (fice or o!r facility ( a cov]$   
f9ancial in/itution t accepts deposits1 
locat$ 9 any ,/ate4  7#b7 ,metropolitan 
area ,! t]m metropolitan area means any 
prim>y metropolitan /ati/ical area1     
metropolitan /ati/ical area1 or         
consolidat$ metropolitan /ati/ical area1
 z def9$ by ! ,director ( ! ,(fice (    

,managem5t & ,budget1 ) a population (  
#bej1jjj or m1 & any o!r area designat$ 
z su* by ! appropriate f9ancial         
regulator4  7#c7 ,/ate ,! t]m ,/ate has 
! same mean+ z 9 section #c ( ! ,f$]al  
,deposit ,insurance ,act4  #f4 ,small   
cov]$ f9ancial in/itution regulatory    
relief  7a7 ,9 ,g5]al ,except z provid$ 
9 subsections 7b7 & 7c71 any cov]$      
f9ancial in/itution ) aggregate assets (
 n m ?an #bej1jjj1jjj %all be subject to
 r\t9e exam9ation "u ?is ,act-- 7#a7 n m
 ?an once e #fj mon?s = an in/itution t 
has a*iev$ a rat+ ( out/&+ record (     
meet+ community environm5tally su/a9able
 inve/m5t ne$s at its mo/ rec5t         
exam9ation "u section #d2  7#b7 n m ?an 
once e #dh mon?s = an in/itution t has  
receiv$ a rat+ ( satisfactory record (  
meet+ community environm5tally su/a9able
 inve/m5t ne$s at its mo/ rec5t         
exam9ation "u section #d2 &  7#c7 at    
lea/ once e #bd mon?s = an in/itution t 
has receiv$ a rat+ ( less ?an           
satisfactory record ( meet+ community   

environm5tally su/a9able inve/m5t ne$s  
at its mo/ rec5t exam9ation "u section  
#d4  7b7 ,no ,exception ,f ,exam9ations 
9 ,connection ,) ,applications =        
,deposit ,facilities ,a cov]$ f9ancial  
in/itution describ$ 9 subsection 7a7    
%all rema9 subject to exam9ation "u ?is 
title 9 connection ) an application = a 
deposit facility4  7c7 ,discretion ,a   
cov]$ f9ancial in/itution describ$ 9    
subsection 7a7 may be subject to m      
frequ5t or less frequ5t exam9ations =   
reasonable cause "u su* circum/ances z  
may be det]m9$ by ! appropriate f9ancial
 regulator4  #g4 ,applicability ,!      
requirem5ts ( ?is ,act %all n supplant !
 requirem5ts ( ! ,community ,re9ve/m5t  
,act ( #aigg 7#ab ,u4,s4,c4 #bija et    
seq474  #h4 ,report to ,congress ,ea*   
appropriate f9ancial regulator %all     
include 9 its annual report to !        
,congress a section outl9+ ! actions x  
has tak5 to c>ry out its                
responsibilities "u ?is ,act4  #i4      
,regulations ,n lat] ?an #ahj days aft] 

! date ( enactm5t ( ?is ,act1 ea*       
appropriate f9ancial regulator %all     
consult ) ea* o!r appropriate f9ancial  
regulator to issue rules to c>ry out ?is
 ,act4 ,to ! ext5t practicable1 !       
appropriate f9ancial regulator %all     
issue sub/antially simil> rules4  #aj4  
,effective date ,except z o!rwise       
provid$1 ! requirem5ts ( ?is ,act %all  
take effect "o ye> aft] ! date ( !      
enactm5t ( ?is ,act4