S. 2464 — Community Investment and Prosperity Act

This section increases, to 20% of capital and surplus (from 15%), the limit on public welfare investments (i.e., in low- and moderate-income housing and community development projects, small business loans and guarantees, and student loans) for (1) national banking associations and (2) state member banks of the Federal Reserve System. (Thus, both types of banks may allocate an additional 5% of capital and surplus to such investments.)