US HB2890

Amends the Consumer Financial Protection Act of 2010 to expand duties of the CFPB's Office of Community Affairs regarding under-banked, un-banked, and underserved consumers

Requires the Office to lead research identifying causes and challenges preventing individuals and households from maintaining relationships with depository institutions, consulting with trade associations, minority depository institutions, civil rights groups, and consumer advocates

Directs coordination with other federal departments and agencies to assess reasons for lack of banking participation and develop strategies to increase financial education for underserved populations

Mandates biennial reports to Congress identifying barriers to banking access, discussing regulatory and structural obstacles, and providing recommendations to promote better consumer participation in the banking system

Reports should be timed to alternate with the FDIC's existing report on encouraging use of depository institutions by the unbanked