PA HB1833

Amends the Department of Banking and Securities Code to add Article XI-B, requiring the department to examine financial institutions' efforts to serve underserved communities and assist them in developing wealth-building products including real estate investments, retirement accounts, and savings accounts.

Defines "underserved community" as census tracts where at least 50% of households earn less than 60% of area median income or have a poverty rate of 25% or more; defines "small business" as for-profit entities in these areas with fewer than 50 employees.

Requires each financial institution to create short-term and long-term plans to expand geographic territory and offer financial products to underserved communities.

Mandates annual reporting by financial institutions to the department by October 1, 2026, and each year thereafter, detailing services provided, number of individuals served, financial gains or losses, and small business assistance.

Requires the Department of Banking and Securities to publish an annual report by January 1, 2026, and thereafter, submitted to the Governor, legislative leaders, and relevant committee chairs, analyzing the cost-benefit of expanded financial access in underserved communities.