BGOV Bill Summary: H.R. 1711, Expand Consumer Banking Access

The Consumer Financial Protection Bureau’s Office of Community Affairs would have to coordinate efforts to help more individuals and households access the banking system under a modified version of H.R. 1711.

The office would be directed to:

• Coordinate research, in consultation with banking industry groups and organizations that represent underserved communities, on hurdles that make it difficult for consumers to access the banking system.
• Identify experts at the CFPB to work on related issues.
• Work with other federal offices to increase the participation of underserved consumers in the banking system, and develop strategies to improve their financial education.
• Report…