,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #ecbb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,decemb] #e1 #bjai,mr4
 ,meeks 7= himself1 ,mr4 ,gre5 ( ,texas1
 ,ms4 ,tlaib1 ,mr4 ,cleav]1 ,mr4 ,david 
,scott ( ,georgia1 ,mr4 ,clay1 & ,mrs4  
,beatty7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices1 & 9 addition to ! ,committee  
on ,small ,bus9ess1 = a p]iod to be     
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to e/abli% or      
modify requirem5ts relat+ to m9ority    
depository in/itutions1 community       
developm5t f9ancial in/itutions1 &      
impact banks1 & = o!r purposes4  #a4    
,%ort title2 table ( cont5ts  7a7 ,%ort 
title ,?is ,act may be cit$ z ! ,ensur+ 
,div]sity 9 ,community ,bank+ ,act (    
#bjai4  7b7 ,table ( cont5ts ,! table ( 
cont5ts = ?is ,act is z foll[s3  ,sec4  
#a4 ,%ort title2 table ( cont5ts4 ,sec4 
#b4 ,s5se ( ,congress on fund+ !        

loan-loss res]ve fund = small doll>     
loans4 ,sec4 #c4 ,def9itions4 ,sec4 #d4 
,inclusion ( wom5's banks 9 ! def9ition 
( m9ority depository in/itution4 ,sec4  
#e4 ,e/abli%m5t ( impact bank           
designation4 ,sec4 #f4 ,m9ority         
,depository ,in/itutions ,advisory      
,committees4 ,sec4 #g4 ,f$]al deposits 9
 m9ority depository in/itutions4 ,sec4  
#h4 ,m9ority ,bank ,deposit ,program4   
,sec4 #i4 ,div]sity report & be/        
practices4 ,sec4 #aj4 ,inve/m5ts 9      
m9ority depository in/itutions & impact 
banks4 ,sec4 #aa4 ,requirem5t to m5tor  
m9ority depository in/itutions or       
community developm5t f9ancial           
in/itutions to s]ve z a deposit>y or    
f9ancial ag5t4 ,sec4 #ab4 ,cu/odial     
deposit program = cov]$ m9ority         
depository in/itutions & impact banks4  
,sec4 #ac4 ,/reaml9$ community          
developm5t f9ancial in/itution          
applications & report+4 ,sec4 #ad4 ,task
 =ce on l5d+ to small bus9ess conc]ns4  
#b4 ,s5se ( ,congress on fund+ !        

loan-loss res]ve fund = small doll>     
loans ,! s5se ( ,congress is ! foll[+3  
7#a7 ,! ,community ,developm5t ,f9ancial
 ,in/itutions ,fund 7! ,,cdfi ,fund7 is 
an ag5cy ( ! ,dep>tm5t ( ! ,treasury1 & 
0 e/abli%$ by ! ,riegle ,community      
,developm5t & ,regulatory ,improvem5t   
,act ( #aiid4 ,! mission ( ! ,,cdfi     
,fund is to exp& economic opportunity = 
und]s]v$ p & communities by support+ !  
gr[? & capacity ( a national network (  
community developm5t l5d]s1 inve/ors1 & 
f9ancial s]vice provid]s4 ,a community  
developm5t f9ancial in/itution 7a       
,,cdfi7 is a specializ$ f9ancial        
in/itution s]v+ l[-income communities & 
a ,community ,developm5t ,entity 7a     
,,cde7 is a dome/ic corporation or      
p>tn]%ip t is an int]m$i>y vehicle = !  
provision ( loans1 inve/m5ts1 or        
f9ancial c\nsel+ 9 l[-income            
communities4 ,! ,,cdfi ,fund c]tifies   
,c,d,f,is & ,c,d,es4 ,becom+ a c]tifi$  
,,cdfi or ,,cde all[s organizations to  
p>ticipate 9 v>i\s ,,cdfi ,fund programs

 z foll[s3  7,a7 ,! ,bank ,ent]prise    
,aw>d ,program1 :i* provides            
,,fdic-insur$ depository in/itutions    
aw>ds = a demon/rat$ increase 9 l5d+ &  
inve/m5ts 9 di/ress$ communities &      
,c,d,f,is4  7,b7 ,! ,,cdfi ,program1 :i*
 provides ,f9ancial & ,te*nical         
,assi/ance aw>ds to ,c,d,f,is to re9ve/ 
9 ! ,,cdfi1 & to build ! capacity ( !   
,,cdfi1 includ+ f9anc+ product          
developm5t & loan loss res]ves4  7,c7 ,!
 ,native ,am]ican ,,cdfi ,assi/ance     
,program1 :i* provides ,c,d,f,is &      
sponsor+ entities ,f9ancial & ,te*nical 
,assi/ance aw>ds to increase l5d+ & gr[ 
! numb] ( ,c,d,f,is own$ by ,native     
,am]icans to help build capacity ( su*  
,c,d,f,is4  7,d7 ,! ,new ,m>ket ,tax    
,cr$it ,program1 :i* provides tax cr$its
 = mak+ equity inve/m5ts 9 ,c,d,es t    
/imulate capital inve/m5ts 9 l[-income  
communities4  7,e7 ,! ,capital ,magnet  
,fund1 :i* provides aw>ds to ,c,d,f,is &
 nonpr(it af=dable h\s+ organizations to
 f9ance af=dable h\s+ solutions & relat$

 economic developm5t activities4  7,f7  
,! ,bond ,gu>antee ,program1 a s\rce (  
long-t]m1 pati5t capital = ,c,d,f,is to 
exp& l5d+ & inve/m5t capacity =         
community & economic developm5t         
purposes4  7#b7 ,! ,dep>tm5t ( !        
,treasury is au?oriz$ to create         
multi-ye> grant programs design$ to     
enc\rage l[-to-mod]ate income           
individuals to e/abli% acc\nts at       
f$]ally insur$ banks1 & to improve      
l[-to-mod]ate income individuals' access
 to su* acc\nts on reasonable t]ms4     
7#c7 ,"u ?is au?ority1 grants to        
p>ticipants 9 ,,cdfi ,fund programs may 
be us$ = loan-loss res]ves & to e/abli% 
small-doll> loan programs by subsidiz+  
relat$ losses4 ,^! grants also all[ = ! 
provid+ recipi5ts ) ! f9ancial c\nsel+ &
 education necess>y to conduct          
transactions & manage _! acc\nts4 ,^!   
loans provide l[-co/ alt]natives to     
payday loans & o!r nontraditional =ms ( 
f9anc+ t (t5 impose excessive int]e/    
rates & fees on borr[]s1 & lead millions

 ( ,am]icans to fall into debt traps4   
,small-doll> loans c only be made       
pursuant to t]ms1 conditions1 &         
practices t are reasonable = !          
individual consum] obta9+ ! loan4  7#d7 
,program p>ticipation is re/rict$ to    
eligible in/itutions1 :i* are limit$ to 
organizations li/$ 9 section            
#eja7;c77#c7 ( ! ,int]nal ,rev5ue ,code 
& exempt f tax "u #eja7;a7 ( su* ,code1 
f$]ally insur$ depository in/itutions1  
community developm5t f9ancial           
in/itutions & ,/ate1 local1 or ,tribal  
gov]nm5t entities4  7#e7 ,s9ce its      
f\nd+1 ! ,,cdfi ,fund has aw>d$ ov]     
#c1cjj1jjj1jjj to ,c,d,f,is & ,c,d,es1  
allocat$ #ed1jjj1jjj1jjj 9 tax cr$its1 &
 #a1eaj1jjj1jjj 9 bond gu>antees4       
,accord+ to ! ,,cdfi ,fund1 "s programs 
attract z mu* z #aj 9 private capital = 
e #a inve/$ by ! ,,cdfi ,fund4 ,!       
,adm9i/ration & ! ,congress %\ld        
prioritize appropriation ( funds = !    
loan loss res]ve fund & te*nical        
assi/ance programs adm9i/]$ by !        

,community ,developm5t ,f9ancial        
,in/itution ,fund1 z includ$ 9 ! v]sion 
( ! ,f9ancial ,s]vices & ,g5]al         
,gov]nm5t ,appropriations ,act1 #bjbj   
7,h4,r4 #ccea7 t pass$ ! ,h\se (        
,repres5tatives on ,june1 #bf1 #bjai4   
#c4 ,def9itions ,9 ?is ,act3 7#a7       
,community developm5t f9ancial          
in/itution ,! t]m community developm5t  
f9ancial in/itution has ! mean+ giv5 "u 
section #ajc ( ! ,riegle ,community     
,developm5t & ,regulatory ,improvem5t   
,act ( #aiid 7#ab ,u4,s4,c4 #dgjb74     
7#b7 ,m9ority depository in/itution ,!  
t]m m9ority depository in/itution has ! 
mean+ giv5 "u section #cjh ( ! ,f9ancial
 ,in/itutions ,re=m1 ,recov]y1 &        
,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4   
#adfc note71 z am5d$ by ?is ,act4  #d4  
,inclusion ( wom5's banks 9 ! def9ition 
( m9ority depository in/itution ,section
 #cjh7;b77#a7 ( ! ,f9ancial ,in/itutions
 ,re=m1 ,recov]y1 & ,en=cem5t ,act (    
#aihi 7#ab ,u4,s4,c4 #adfc note7 is     
am5d$--  7#a7 by r$esignat+ subp>agraphs

 7,a71 7,b71 & 7,c7 z clauses 7i71 7ii71
 & 7iii71 respectively2  7#b7 by /rik+  
means any & ins]t+ ! foll[+3  means--   
7,a7 any  2 &  7#c7 9 clause 7iii7 7z s 
r$esignat$71 by /rik+ ! p]iod at ! end &
 ins]t+ 2 or2 &  7#d7 by ins]t+ at ! end
 ! foll[+ new subp>agraph3  7,b7 any    
bank describ$ 9 clause 7i71 7ii71 or    
7iii7 ( section #ai7;b77#a77;,a7 ( !    
,f$]al ,res]ve ,act--  7i7 m ?an #ej    
p]c5t ( ! out/&+ %>es ( :i* are held by 
#a or m wom52 &  7ii7 ! majority ( !    
directors on ! bo>d ( directors ( :i*   
are wom54  4  #e4 ,e/abli%m5t ( impact  
bank designation  7a7 ,9 g5]al ,ea*     
appropriate ,f$]al bank+ ag5cy %all     
e/abli% a program "u :i* a depository   
in/itution ) total consolidat$ assets ( 
less ?an #aj1jjj1jjj1jjj may elect to be
 designat$ z an impact bank if #ej p]c5t
 or m ( ! loans ext5d$ by su* cov]$ bank
 are ext5d$ to l[-income borr[]s4  7b7  
,designation ,bas$ on data obta9$ ?r\gh 
exam9ations1 an appropriate ,f$]al bank+
 ag5cy %all submit a notification to a  

depository in/itution /at+ t !          
depository in/itution qualifies =       
designation z an impact bank4  7c7      
,application ,a depository in/itution t 
does n receive a notification describ$ 9
 subsection 7b7 may submit an           
application to ! appropriate ,f$]al     
bank+ ag5cy demon/rat+ t ! depository   
in/itution qualifies = designation z an 
impact bank4  7d7 ,additional data or   
ov]sight ,a depository in/itution is n  
requir$ to submit additional data to an 
appropriate ,f$]al bank+ ag5cy or be    
subject to additional ov]sight f su* an 
ag5cy if su* data or ov]sight is relat$ 
specifically & solely = consid]ation = a
 designation z an impact bank4  7e7     
,removal ( designation ,if an           
appropriate ,f$]al bank+ ag5cy det]m9es 
t a depository in/itution designat$ z an
 impact bank no long] meets ! crit]ia = 
su* designation1 ! appropriate ,f$]al   
bank+ ag5cy %all resc9d ! designation & 
notify ! depository in/itution ( su*    
rescission4  7f7 ,reconsid]ation (      

designation2 appeals ,a depository      
in/itution may-- 7#a7 submit to !       
appropriate ,f$]al bank+ ag5cy a reque/ 
to reconsid] a det]m9ation t su*        
depository in/itution no long] meets !  
crit]ia = ! designation2 or  7#b7 file  
an appeal 9 accordance ) proc$ures      
e/abli%$ by ! appropriate ,f$]al bank+  
ag5cy4  7g7 ,rulemak+ ,n lat] ?an #a ye>
 aft] ! date ( ! enactm5t ( ?is ,act1 ! 
appropriate ,f$]al bank+ ag5cies %all   
jo9tly issue rules to c>ry out !        
requirem5ts ( ?is section1 includ+ by   
provid+ a def9ition ( a l[-income       
borr[]4  7h7 ,f$]al ,deposit ,insurance 
,act def9itions ,9 ?is section1 ! t]ms  
depository in/itution & appropriate     
,f$]al bank+ ag5cy h ! mean+s giv5 su*  
t]ms1 respectively1 9 section #c ( !    
,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahac74  #f4 ,m9ority         
,depository ,in/itutions ,advisory      
,committees  7a7 ,e/abli%m5t ,ea* cov]$ 
regulator %all e/abli% an advisory      
committee to be call$ ! ,m9ority        

,depository ,in/itutions ,advisory      
,committee4  7b7 ,duties ,ea* ,m9ority  
,depository ,in/itutions ,advisory      
,committee %all provide advice to !     
respective cov]$ regulator on meet+ !   
goals e/abli%$ by section #cjh ( !      
,f9ancial ,in/itutions ,re=m1 ,recov]y1 
& ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 
#adfc note7 to pres]ve ! pres5t numb] ( 
cov]$ m9ority in/itutions1 pres]ve !    
m9ority "* ( m9ority-own$ in/itutions 9 
cases involv+ m]g]s or acquisitions1    
provide te*nical assi/ance1 & enc\rage !
 creation ( new cov]$ m9ority           
in/itutions4 ,! scope ( ! "w ( ea* su*  
,m9ority ,depository ,in/itutions       
,advisory ,committee %all include an    
assessm5t ( ! curr5t condition ( cov]$  
m9ority in/itutions1 :at regulatory     
*anges or o!r /eps ! respective ag5cies 
may be able to take to fulfill !        
requirem5ts ( su* section #cjh1 & o!r   
issues ( conc]n to m9ority depository   
in/itutions4  7c7 ,memb]%ip  7#a7 ,9    
g5]al ,ea* ,m9ority ,depository         

,in/itutions ,advisory ,committee %all  
consi/ ( no m ?an #aj memb]s1 :o--  7,a7
 %all s]ve = "o two-ye> t]m2  7,b7 %all 
s]ve z a repres5tative ( a depository   
in/itution or an insur$ cr$it union )   
respect to :i* ! respective cov]$       
regulator is ! cov]$ regulator ( su*    
depository in/itution or insur$ cr$it   
union2 &  7,c7 %all n receive pay by    
reason ( _! s]vice on ! advisory        
committee1 b may receive travel or      
transportation exp5ses 9 accordance )   
section #egjc ( title #e1 ,unit$ ,/ates 
,code4  7#b7 ,div]sity ,to ! ext5t      
practicable1 ea* cov]$ regulator %all   
ensure t ! memb]s ( ,m9ority ,depository
 ,in/itutions ,advisory ,committee ( su*
 ag5cy reflect ! div]sity ( depository  
in/itutions4  7d7 ,meet+s  7#a7 ,9 g5]al
 ,ea* ,m9ority ,depository ,in/itutions 
,advisory ,committee %all meet n less   
frequ5tly ?an twice ea* ye>4  7#b7      
,invitations ,ea* ,m9ority ,depository  
,in/itutions ,advisory ,committee %all  
invite ! att5dance at ea* meet+ ( !     

,m9ority ,depository ,in/itutions       
,advisory ,committee (--  7,a7 "o memb] 
( ! majority p>ty & "o memb] ( ! m9ority
 p>ty ( ! ,committee on ,f9ancial       
,s]vices ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate2 &  7,b7 "o memb] ( 
! majority p>ty & "o memb] ( ! m9ority  
p>ty ( any relevant subcommittees ( su* 
committees4  7e7 ,no t]m9ation (        
advisory committees ,! t]m9ation        
requirem5ts "u section #ad ( ! ,f$]al   
,advisory ,committee ,act 7#e ,u4,s4,c4 
app47 %all n apply to a ,m9ority        
,depository ,in/itutions ,advisory      
,committee e/abli%$ pursuant to ?is     
section4  7f7 ,def9itions ,9 ?is        
section3 7#a7 ,cov]$ regulator ,! t]m   
cov]$ regulator means ! ,comptroll] ( ! 
,curr5cy1 ! ,bo>d ( ,gov]nors ( ! ,f$]al
 ,res]ve ,sy/em1 ! ,f$]al ,deposit      
,insurance ,corporation1 & ! ,national  
,cr$it ,union ,adm9i/ration4  7#b7      
,cov]$ m9ority in/itution ,! t]m cov]$  
m9ority in/itution means a m9ority      

depository in/itution 7z def9$ 9 section
 #cjh7;b7 ( ! ,f9ancial ,in/itutions    
,re=m1 ,recov]y1 & ,en=cem5t ,act (     
#aihi 7#ab ,u4,s4,c4 #adfc note77 or a  
m9ority cr$it union 7z def9$ 9 section  
#abjd7;c7 ( ! ,f9ancial ,in/itutions    
,re=m1 ,recov]y1 & ,en=cem5t ,act (     
#aihi1 z am5d$ by ?is ,act74  7#c7      
,depository in/itution ,! t]m depository
 in/itution has ! mean+ giv5 "u section 
#c ( ! ,f$]al ,deposit ,insurance ,act  
7#ab ,u4,s4,c4 #ahac74  7#d7 ,insur$    
cr$it union ,! t]m insur$ cr$it union   
has ! mean+ giv5 9 section #aja ( !     
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageb74  7g7 ,te*nical am5dm5t ,section
 #cjh7;b7 ( ! ,f9ancial ,in/itutions    
,re=m1 ,recov]y1 & ,en=cem5t ,act (     
#aihi 7#ab ,u4,s4,c4 #adfc note7 is     
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#c7 ,depository in/itution  
,! t]m depository in/itution means an   
insur$ depository in/itution 7z def9$ 9 
section #c ( ! ,f$]al ,deposit          
,insurance ,act 7#ab ,u4,s4,c4 #ahac77 &

 an insur$ cr$it union 7z def9$ 9       
section #aja ( ! ,f$]al ,cr$it ,union   
,act 7#ab ,u4,s4,c4 #ageb774  4  #g4    
,f$]al deposits 9 m9ority depository    
in/itutions  7a7 ,9 g5]al ,section #cjh 
( ! ,f9ancial ,in/itutions ,re=m1       
,recov]y1 & ,en=cem5t ,act ( #aihi 7#ab 
,u4,s4,c4 #adfc note7 is am5d$--  7#a7  
by add+ at ! end ! foll[+ new           
subsection3  7d7 ,f$]al deposits ,!     
,secret>y ( ! ,treasury %all ensure t   
deposits made by ,f$]al ag5cies 9       
m9ority depository in/itutions & impact 
banks are fully collat]aliz$ or fully   
insur$1 z det]m9$ by ! ,secret>y4 ,su*  
deposits %all include reciprocal        
deposits z def9$ 9 section              
#ccg4f7;e77#b77v7 ( title #ab1 ,code (  
,f$]al ,regulations 7z 9 effect on ,m>* 
#f1 #bjai74  2 &  7#b7 9 subsection 7b71
 z am5d$ by section #f7;g71 by add+ at !
 end ! foll[+ new p>agraph3  7#d7       
,impact bank ,! t]m impact bank means a 
depository in/itution designat$ by an   
appropriate ,f$]al bank+ ag5cy pursuant 

to section #e ( ! ,ensur+ ,div]sity 9   
,community ,bank+ ,act ( #bjai4  4  7b7 
,te*nical am5dm5ts ,section #cjh ( !    
,f9ancial ,in/itutions ,re=m1 ,recov]y1 
& ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 
#adfc note7 is am5d$--  7#a7 9 ! matt]  
prec$+ p>agraph 7#a71 by /rik+ section--
 & ins]t+ section32 &  7#b7 9 ! p>agraph
 head+ = p>agraph 7#a71 by /rik+        
f9ancial & ins]t+ depository4  #h4      
,m9ority ,bank ,deposit ,program  7a7 ,9
 g5]al ,section #abjd ( ! ,f9ancial     
,in/itutions ,re=m1 ,recov]y1 &         
,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4   
#ahaa note7 is am5d$ to read z foll[s3  
#abjd4 ,expansion ( use ( m9ority banks 
& m9ority cr$it unions  7a7 ,m9ority    
,bank ,deposit ,program  7#a7           
,e/abli%m5t ,!re is e/abli%$ a program  
to be kn[n z ! ,m9ority ,bank ,deposit  
,program to exp& ! use ( m9ority banks &
 m9ority cr$it unions4  7#b7            
,adm9i/ration ,! ,secret>y ( !          
,treasury1 act+ ?r\gh ! ,fiscal ,s]vice1
 %all--  7,a7 on application by a       

depository in/itution or cr$it union1   
c]tify :e!r su* depository in/itution or
 cr$it union is a m9ority bank or       
m9ority cr$it union2  7,b7 ma9ta9 &     
publi% a li/ ( all depository           
in/itutions & cr$it unions t h be5      
c]tifi$ pursuant to subp>agraph 7,a72 & 
7,c7 p]iodically di/ribute ! li/        
describ$ 9 subp>agraph 7,b7 to-- 7i7 all
 ,f$]al dep>tm5ts & ag5cies2  7ii7      
int]e/$ ,/ate & local gov]nm5ts2 &      
7iii7 int]e/$ private sector companies4 
7#c7 ,inclusion ( c]ta9 entities on li/ 
,a depository in/itution or cr$it union 
t1 on ! date ( ! enactm5t ( ?is section1
 has a curr5t c]tification f ! ,secret>y
 ( ! ,treasury /at+ t su* depository    
in/itution or cr$it union is a m9ority  
bank or m9ority cr$it union %all be     
includ$ on ! li/ describ$ "u p>agraph   
7#b77;,b74  7b7 ,exp&$ ,use ,among      
,f$]al ,dep>tm5ts & ,ag5cies  7#a7 ,9   
g5]al ,n lat] ?an #a ye> aft] !         
e/abli%m5t ( ! program describ$ 9       
subsection 7a71 ! head ( ea* ,f$]al     

dep>tm5t or ag5cy %all develop &        
implem5t /&>ds & proc$ures to ensure1 to
 ! maximum ext5t possible z p]mitt$ by  
law1 ! use ( m9ority banks & m9ority    
cr$it unions to s]ve ! f9ancial ne$s (  
ea* su* dep>tm5t or ag5cy4  7#b7 ,report
 to ,congress ,n lat] ?an #b ye>s aft] !
 e/abli%m5t ( ! program describ$ 9      
subsection 7a71 & annually !reaft]1 !   
head ( ea* ,f$]al dep>tm5t or ag5cy %all
 submit to ,congress a report on !      
actions tak5 to increase ! use ( m9ority
 banks & m9ority cr$it unions to s]ve ! 
f9ancial ne$s ( ea* su* dep>tm5t or     
ag5cy4  7c7 ,def9itions ,= purposes (   
?is section3 7#a7 ,cr$it union ,! t]m   
cr$it union has ! mean+ giv5 ! t]m      
insur$ cr$it union 9 section #aja ( !   
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageb74  7#b7 ,depository in/itution ,!
 t]m depository in/itution has ! mean+  
giv5 ! t]m insur$ depository in/itution 
9 section #c ( ! ,f$]al ,deposit        
,insurance ,act 7#ab ,u4,s4,c4 #ahac74  
7#c7 ,m9ority ,! t]m m9ority means any  

,black ,am]ican1 ,native ,am]ican1      
,hispanic ,am]ican1 or ,asian ,am]ican4 
7#d7 ,m9ority bank ,! t]m m9ority bank  
means a m9ority depository in/itution z 
def9$ 9 section #cjh ( ?is ,act4  7#e7  
,m9ority cr$it union ,! t]m m9ority     
cr$it union means any cr$it union = :i* 
m ?an #ej p]c5t ( ! memb]%ip 7includ+   
bo>d memb]s7 ( su* cr$it union are      
m9ority individuals1 z det]m9$ by !     
,national ,cr$it ,union ,adm9i/ration   
pursuant to section #cjh ( ?is ,act4  4 
7b7 ,con=m+ ,am5dm5ts ,! foll[+         
provisions are am5d$ by /rik+           
#abjd7;c77#c7 & ins]t+ #abjd7;c73 7#a7  
,section #hjh7;b77#c7 ( ! ,community    
,re9ve/m5t ,act ( #aigg 7#ab ,u4,s4,c4  
#bijg7;b77#c774  7#b7 ,section          
#dj7;g77#a77;,b7 ( ! ,f$]al ,deposit    
,insurance ,act 7#ab ,u4,s4,c4          
#ahcaq7g77#a77;,b774  7#c7 ,section     
#gjd;,b7h77#d7 ( ! ,equal ,cr$it        
,opportunity ,act 7#ae ,u4,s4,c4        
#afia;c-#b7;h77#d774  #i4 ,div]sity     
report & be/ practices  7a7 ,annual     

report ,ea* cov]$ regulator %all submit 
to ,congress an annual report on        
div]sity includ+ ! foll[+3  7#a7 ,data1 
bas$ on volunt>y self-id5tification1 on 
! racial1 e?nic1 & g5d] composition ( ! 
exam9]s ( ea* cov]$ regulator1          
disaggregat$ by l5g? ( "t s]v$ z an     
exam9]4  7#b7 ,! /atus ( any exam9]s (  
cov]$ regulators1 bas$ on volunt>y      
self-id5tification1 z a vet]an4  7#c7   
,:e!r any cov]$ regulator1 z ( ! date on
 :i* ! report requir$ "u ?is section is 
submitt$1 has adopt$ a policy1 plan1 or 
/rategy to promote racial1 e?nic1 & g5d]
 div]sity among exam9]s ( ! cov]$       
regulator4  7#d7 ,:e!r any special tra9+
 is develop$ & provid$ = exam9]s relat$ 
specifically to work+ ) banks t s]ve    
communities t are pr$om9antly m9orities1
 l[ income1 or rural1 & ! key focus (   
su* tra9+4  7b7 ,be/ practices ,ea*     
,(fice ( ,m9ority & ,wom5 ,inclusion ( a
 cov]$ regulator %all develop1 provide  
to ! head ( ! cov]$ regulator1 & make   
publicly available be/ practices--  7#a7

 = increas+ ! div]sity ( c&idates apply+
 = exam9] positions1 includ+ ?r\gh      
outrea* ef=ts to recruit div]se c&idate 
to apply = entry-level exam9] positions2
 &  7#b7 = reta9+ & provid+ fair        
consid]ation = promotions )9 ! exam9]   
/aff = purposes ( a*iev+ div]sity among 
exam9]s4  7c7 ,cov]$ regulator def9$ ,9 
?is section1 ! t]m cov]$ regulator means
 ! ,comptroll] ( ! ,curr5cy1 ! ,bo>d (  
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 !  
,f$]al ,deposit ,insurance ,corporation1
 & ! ,national ,cr$it ,union            
,adm9i/ration4  #aj4 ,inve/m5ts 9       
m9ority depository in/itutions & impact 
banks  7a7 ,control = c]ta9 in/itutions 
,section #g7;j77#h77;,b7 ( ! ,f$]al     
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahag7;j77#h77;,b77 is am5d$ to read z  
foll[s3  7,b7 control means ! p[]1      
directly or indirectly-- 7i7 to direct !
 managem5t or policies ( an insur$      
depository in/itution2 or  7ii7  7,i7 ) 
respect to an insur$ depository         
in/itution1 ( a p]son to vote #be p]    

c5tum or m ( any class ( vot+ securities
 ( su* in/itution2 or  7,,ii7 ) respect 
to an insur$ depository in/itution t is 
an impact bank 7z designat$ pursuant to 
section #e ( ! ,ensur+ ,div]sity 9      
,community ,bank+ ,act ( #bjai7 or a    
m9ority depository in/itution 7z def9$ 9
 section #cjh7;b7 ( ! ,f9ancial         
,in/itutions ,re=m1 ,recov]y1 &         
,en=cem5t ,act ( #aihi71 ( an individual
 to vote #cj p]c5t ( m ( any class (    
vot+ securities ( su* an impact bank or 
a m9ority depository in/itution4  4  7b7
 ,rulemak+ ,! appropriate ,f$]al bank+  
ag5cy 7z def9$ 9 section #c ( ! ,f$]al  
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac77 %all jo9tly issue rules = de    
novo m9ority depository in/itutions & de
 novo impact banks 7z designat$ pursuant
 to section #e7 to all[ #c ye>s to meet 
! capital requirem5ts o!rwise applicable
 to m9ority depository in/itutions &    
impact banks4  7c7 ,report ,n lat] ?an  
#a ye> aft] ! date ( ! enactm5t ( ?is   
,act1 ! appropriate ,f$]al bank+ ag5cies

 %all jo9tly submit to ,congress a      
report on--  7#a7 ! pr9cipal causes = ! 
l[ numb] ( de novo m9ority depository   
in/itutions dur+ ! #aj-ye> p]iod prec$+ 
! date ( ! report2  7#b7 ! ma9 *all5ges 
to ! creation ( de novo m9ority         
depository in/itutions & de novo impact 
banks2 &  7#c7 regulatory & legislative 
consid]ations to promote ! e/abli%m5t ( 
de novo m9ority depository in/itutions &
 de novo impact banks4  #aa4 ,requirem5t
 to m5tor m9ority depository in/itutions
 or community developm5t f9ancial       
in/itutions to s]ve z a deposit>y or    
f9ancial ag5t  7a7 ,9 g5]al ,be=e a l>ge
 f9ancial in/itution may be employ$ z a 
f9ancial ag5t ( ! ,dep>tm5t ( !         
,treasury or p]=m any reasonable duties 
z deposit>y ( public moneys ( !         
,dep>tm5t ( ! ,treasury1 ! l>ge f9ancial
 in/itution %all demon/rate p>ticipation
 z a m5tor 9 a cov]$ m5tor-protege      
program to a protege firm t is a m9ority
 depository in/itution or a community   
developm5t f9ancial in/itution4  7b7    

,report ,n lat] ?an #f mon?s aft] ! date
 ( ! enactm5t ( ?is ,act & annually     
!reaft]1 ! ,secret>y ( ! ,treasury %all 
submit to ,congress a report on         
p>ticipants 9 a cov]$ m5tor-protege     
program1 includ+ an analysis ( outcomes 
( su* program4  7c7 ,proc$ures ,!       
,secret>y ( ! ,treasury %all publi%     
proc$ures = compliance ) ! requirem5ts (
 ?is section = l>ge f9ancial            
in/itutions4  7d7 ,def9itions ,9 ?is    
section3 7#a7 ,cov]$ m5tor-protege      
program ,! t]m cov]$ m5tor-protege      
program means a m5tor-protege program   
e/abli%$ by ! ,secret>y ( ! ,treasury   
pursuant to section #de ( ! ,small      
,bus9ess ,act 7#ae ,u4,s4,c4 #fegr74    
7#b7 ,l>ge f9ancial in/itution ,! t]m   
l>ge f9ancial in/itution means any      
entity-- 7,a7 regulat$ by ! ,comptroll] 
( ! ,curr5cy1 ! ,bo>d ( ,gov]nors ( !   
,f$]al ,res]ve ,sy/em1 ! ,f$]al ,deposit
 ,insurance ,corporation1 or ! ,national
 ,cr$it ,union ,adm9i/ration2 &  7,b7 t 
has total consolidat$ assets great] ?an 

or equal to #ej1jjj1jjj1jjj4  #ab4      
,cu/odial deposit program = cov]$       
m9ority depository in/itutions & impact 
banks  7a7 ,e/abli%m5t ,! ,secret>y ( ! 
,treasury %all e/abli% a cu/odial       
deposit program 79 ?is section ref]r$ to
 z ! ,program7 "u :i* a cov]$ bank %all 
receive mon?ly deposits f a qualify+    
acc\nt4  7b7 ,application ,a cov]$ bank 
%all submit to ! ,secret>y an           
application to p>ticipate 9 ! ,program  
at su* "t1 9 su* mann]1 & conta9+ su*   
in=mation z ! ,secret>y may det]m9e4    
7c7 ,program op]ations  7#a7            
,designation ( cu/odial entities ,!     
,secret>y %all designate eligible       
cu/odial entities to make mon?ly        
deposits ) cov]$ banks select$ =        
p>ticipation 9 ! ,program on behalf ( a 
qualify+ acc\nt4  7#b7 ,cu/odial acc\nts
  7,a7 ,9 g5]al ,! ,secret>y %all       
e/abli% a cu/odial deposit acc\nt = ea* 
qualify+ acc\nt ) ! eligible cu/odial   
entity designat$ to make deposits )     
cov]$ banks = ea* su* qualify+ acc\nt4  

7,b7 ,am\nt ,! ,secret>y %all deposit a 
total am\nt n great] ?an #e p]c5t ( a   
qualify+ acc\nt into any cu/odial       
deposit acc\nts e/abli%$ "u subp>agraph 
7,a74  7,c7 ,deposits ) ,program        
p>ticipants  7i7 ,mon?ly deposits ,ea*  
mon?1 ea* eligible cu/odial entity      
designat$ by ! ,secret>y %all deposit an
 am\nt n great] ?an ! insur$ am\nt1 9 ! 
aggregate1 f ea* cu/odial deposit       
acc\nt1 9 a s+le cov]$ bank4  7ii7      
,limitation ,) respect to ! funds ( an  
individual qualify+ acc\nt1 ! eligible  
cu/odial entity may n deposit an am\nt  
great] ?an ! insur$ am\nt 9 a s+le cov]$
 bank4  7iii7 ,insur$ am\nt def9$ ,9 ?is
 subp>agraph1 ! t]m insur$ am\nt means !
 am\nt t is ! great] (-- 7,i7 ! /&>d    
maximum deposit insurance am\nt 7z def9$
 9 section #aa7;a77#a77;,e7 ( ! ,f$]al  
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahba7;a77#a77;,e7772 or  7,,ii7 su*    
high] am\nt negotiat$ betwe5 ! ,secret>y
 & ! ,corporation "u :i* ! ,corporation 
w insure all deposits ( su* high] am\nt4

  7,d7 ,limitations ,! total am\nt (    
funds deposit$ "u ! ,program 9 a cov]$  
bank may n exce$ ! less] (--  7i7 #aj   
p]c5t ( ! av]age am\nt ( deposits held  
by su* cov]$ bank 9 ! previ\s qu>t]2 or 
7ii7 #ajj1jjj1jjj4  7#c7 ,int]e/  7,a7  
,9 g5]al ,ea* eligible cu/odial entity  
designat$ by ! ,secret>y %all-- 7i7     
collect int]e/ f ea* cov]$ bank 9 :i*   
su* cu/odial entity deposits funds      
pursuant to p>agraph 7#b72 &  7ii7      
disburse su* int]e/ to ! ,secret>y ea*  
mon?4  7,b7 ,int]e/ rate ,! rate ( any  
int]e/ collect$ "u ?is p>agraph may n   
exce$ #ej p]c5t ( ! disc\nt w9d[ prim>y 
cr$it int]e/ rate mo/ rec5tly publi%$ on
 ! ,f$]al ,res]ve ,/ati/ical ,release on
 select$ int]e/ rates 7daily or weekly71
 commonly ref]r$ to z ! ,h4#ae release  
7commonly kn[n z ! ,f$]al funds rate74  
7#d7 ,/atem5ts ,ea* eligible cu/odial   
entity designat$ by ! ,secret>y %all    
submit to ! ,secret>y mon?ly /atem5ts t 
include ! total am\nt ( funds deposit$  
)1 & int]e/ rate receiv$ f1 ea* cov]$   

bank by ! eligible cu/odial entity on   
behalf ( qualify+ entities4  7#e7       
,records ,! ,secret>y %all issue a      
qu>t]ly report to ,congress & make      
publicly available a record id5tify+ all
 cov]$ banks p>ticipat9ig 9 ! ,program &
 am\nts deposit$ "u ! ,program 9 cov]$  
banks4  7d7 ,requirem5ts relat+ to      
deposits ,deposits made ) cov]$ banks "u
 ?is section may n-- 7#a7 be consid]$ by
 ! ,corporation to be funds obta9$1     
directly or indirectly1 by or ?r\gh any 
deposit brok] = deposit into #a or m    
deposit acc\nts 7z describ$ "u section  
#bi ( ! ,f$]al ,deposit ,insurance ,act 
7#ab ,u4,s4,c4 #ahca;f772 or  7#b7 be   
subject to insurance fees f !           
,corporation t are great] ?an insurance 
fees = typical dem& deposits n obta9$1  
directly or indirectly1 by or ?r\gh any 
deposit brok] 7commonly kn[n z core     
deposits74  7e7 ,modifications  7#a7 ,9 
g5]al ,! ,secret>y %all provide a       
#c-mon? p]iod = public notice & comm5t  
be=e mak+ any mat]ial *ange to !        

op]ation ( ! ,program4  7#b7 ,exception 
,! requirem5ts ( p>agraph 7#a7 %all n   
apply if ! ,secret>y makes a mat]ial    
*ange to ! ,program to comply ) safety &
 s\ndness /&>ds or o!r law4  7f7        
,t]m9ation  7#a7 ,by cov]$ bank ,a cov]$
 bank select$ = p>ticipation 9 !        
,program pursuant to subsection 7c7 may 
t]m9ate p>ticipation 9 ! ,program by    
provid+ ! ,secret>y a notification #fj  
days prior to t]m9ation4  7#b7 ,by      
,secret>y ,! ,secret>y may t]m9ate !    
p>ticipation ( a cov]$ bank 9 ! ,program
 if ! ,secret>y det]m9es ! cov]$ bank-- 
7,a7 violat$ any t]ms ( p>ticipation 9 !
 ,program2  7,b7 fail$ to comply )      
,f$]al bank secrecy laws1 z docum5t$ 9  
writ+ by ! prim>y regulator ( ! cov]$   
bank2  7,c7 fail$ to rema9 well         
capitaliz$2 or  7,d7 fail$ comply )     
safety & s\ndness /&>ds1 z docum5t$ 9   
writ+ by ! prim>y regulator ( ! cov]$   
bank4  7g7 ,def9itions ,9 ?is section3  
7#a7 ,corporation ,! t]m ,corporation   
means ! ,f$]al ,deposit ,insurance      

,corporation4  7#b7 ,cov]$ bank ,! t]m  
cov]$ bank means-- 7,a7 a m9ority       
depository in/itution t is regulat$ by !
 ,corporation or ! ,national ,cr$it     
,union ,adm9i/ration t is well          
capitaliz$ 7z def9$ 9 section #ch7;b7 ( 
! ,f$]al ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahcao7b7772 or  7,b7 a       
depository in/itution designat$ pursuant
 to section #e ( ! ,ensur+ ,div]sity 9  
,community ,bank+ ,act ( #bjai t is well
 capitaliz$ 7z def9$ 9 section #ch7;b7 (
 ! ,f$]al ,deposit ,insurance ,act 7#ab 
,u4,s4,c4 #ahcao7b7774  7#c7 ,eligible  
cu/odial entity ,! t]m eligible cu/odial
 entity means-- 7,a7 an insur$          
depository in/itution 7z def9$ 9 section
 #c ( ! ,f$]al ,deposit ,insurance ,act 
7#ab ,u4,s4,c4 #ahac771  7,b7 an insur$ 
cr$it union 7z def9$ 9 section #aja ( ! 
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageb771 or  7,c7 or a well capitaliz$ 
,/ate-*>t]$ tru/ company1  designat$ by 
! ,secret>y "u subsection 7c77#a74  7#d7
 ,f$]al bank secrecy laws ,! t]m ,f$]al 

bank secrecy laws means--  7,a7 section 
#ba ( ! ,f$]al ,deposit ,insurance ,act 
7#ab ,u4,s4,c4 #ahbi;b72  7,b7 section  
#abc ( ,public ,law #ia-ejh2 &  7,c7    
sub*apt] ,,ii ( *apt] #ec ( title #ca1  
,unit$ ,/ates ,code4  7#e7 ,qualify+    
acc\nt ,! t]m qualify+ acc\nt means any 
acc\nt e/abli%$ 9 ! ,dep>tm5t ( !       
,treasury t--  7,a7 is controll$ by !   
,secret>y2 &  7,b7 is expect$ to ma9ta9 
a balance great] ?an #bjj1jjj1jjj = !   
foll[+ cal5d> mon?4  7#f7 ,secret>y ,!  
t]m ,secret>y means ! ,secret>y ( !     
,treasury4  7#g7 ,well capitaliz$ ,! t]m
 well capitaliz$ has ! mean+ giv5 9     
section #ch ( ! ,f$]al ,deposit         
,insurance ,act 7#ab ,u4,s4,c4 #ahcao74 
#ac4 ,/reaml9$ community developm5t     
f9ancial in/itution applications &      
report+  7a7 ,application processes ,n  
lat] ?an #ab mon?s aft] ! date ( !      
enactm5t ( ?is ,act & ) respect to any  
p]son hav+ assets "u #c1jjj1jjj1jjj t   
submits an application = deposit        
insurance ) ! ,f$]al ,deposit ,insurance

 ,corporation t c\ld also become a      
community developm5t f9ancial           
in/itution1 ! ,f$]al ,deposit ,insurance
 ,corporation1 9 consultation ) !       
,adm9i/rator ( ! ,community ,developm5t 
,f9ancial ,in/itutions ,fund1 %all--    
7#a7 develop sy/ems & proc$ures to      
record necess>y in=mation to all[ !     
,adm9i/rator to conduct prelim9>y       
analysis = su* p]son to also become a   
community developm5t f9ancial           
in/itution2 &  7#b7 develop proc$ures to
 /reaml9e ! application & annual        
c]tification processes & to r$uce co/s =
 su* p]son to become1 & ma9ta9          
c]tification z1 a community developm5t  
f9ancial in/itution t s]ves l[- &       
mod]ate-income neighborhoods 7z def9$ "u
 ! ,community ,re9ve/m5t ,act ( #aigg   
7#ab ,u4,s4,c4 #bija et seq4774  7b7    
,report on implem5tation ,n lat] ?an #ah
 mon?s aft] ! date ( ! enactm5t ( ?is   
,act1 ! ,f$]al ,deposit ,insurance      
,corporation %all submit to ,congress a 
report describ+ ! sy/ems & proc$ures    

requir$ "u subsection 7a74  7c7 ,annual 
report  7#a7 ,9 g5]al ,section          
#ag7;a77#a7 ( ! ,f$]al ,deposit         
,insurance ,act 7#ab ,u4,s4,c4          
#ahbg7;a77#a77 is am5d$-- 7,a7 9        
subp>agraph 7,e71 by /rik+ & at ! end2  
7,b7 by r$esignat+ subp>agraph 7,f7 z   
subp>agraph 7,g72  7,c7 by ins]t+ aft]  
subp>agraph 7,e7 ! foll[+ new           
subp>agraph3  7,f7 applicants = deposit 
insurance t c\ld also become a community
 developm5t f9ancial in/itution 7z def9$
 9 section #ajc ( ! ,riegle ,community  
,developm5t & ,regulatory ,improvem5t   
,act ( #aiid71 a m9ority depository     
in/itution 7z def9$ 9 section #cjh ( !  
,f9ancial ,in/itutions ,re=m1 ,recov]y1 
& ,en=cem5t ,act ( #aihi71 or an impact 
bank 7z designat$ pursuant to section #e
 ( ! ,ensur+ ,div]sity 9 ,community     
,bank+ ,act ( #bjai72 &  4  7#b7        
,application ,! am5dm5t made by ?is     
subsection %all apply ) respect to !    
fir/ report to be submitt$ aft] ! date t
 is #b ye>s aft] ! date ( ! enactm5t (  

?is ,act4  #ad4 ,task =ce on l5d+ to    
small bus9ess conc]ns  7a7 ,9 g5]al ,n  
lat] ?an #f mon?s aft] ! date ( !       
enactm5t ( ?is ,act1 ! ,adm9i/rator ( ! 
,small ,bus9ess ,adm9i/ration %all      
e/abli% a task =ce to exam9e me?ods =   
improv+ relation%ips betwe5 ! ,small    
,bus9ess ,adm9i/ration & community      
developm5t f9ancial in/itutions1 m9ority
 depository in/itutions1 & ,impact      
,banks to increase ! volume ( loans     
provid$ by su* in/itutions to small     
bus9ess conc]ns 7z def9$ "u section #c (
 ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4  
#fcb774  7b7 ,report to ,congress ,n    
lat] ?an #ah mon?s aft] ! e/abli%m5t ( !
 task =ce describ$ 9 subsection 7a71 !  
,adm9i/rator ( ! ,small ,bus9ess        
,adm9i/ration %all submit to ,congress a
 report on ! f9d+s ( su* task =ce4