,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fhhh  ,,in ,,the ,,house ,,of  
,,representatives  ,may #ae1 #bjbj,ms4  
,adams 7for herself and ,ms4 ,waters7   
introduced the following bill2 which was
 referred to the ,committee on ,small   
,business  ,a ,,bill  ,to modify        
requirements relating to the            
participation of community development  
financial institutions in the paycheck  
protection program of the ,small        
,business ,administration1 and for other
 purposes4  #a4 ,participation of       
community development financial         
institutions in the paycheck protection 
program  7a7 ,delegated authority       
,section #g7;a77#cf77;,f7 of the ,small 
,business ,act 7#ae ,u4,s4,c4           
#fcf7;a77#cf77;,f77 is amended-- 7#a7 in
 clause 7ii77,i71 by inserting and a    
community development financial         
institution after under this subsection2
  7#b7 in clause 7iii71 by striking     
shall be extended to additional lenders 
and inserting the following3 shall be   

extended-- 7,i7 to community development
 financial institutions2 and  7,,ii7 to 
additional lenders  2 and  7#c7 by      
adding at the end the following new     
clause3  7vi7 ,revocation of lenders    
,the authority of a lender to make loans
 under this paragraph may be revoked    
upon a joint determination by the       
,administrator and the ,secretary of the
 ,treasury that-- 7,i7 such lender has  
had recent compliance shortcomings or   
other material operational shortcomings 
that warrant such a revocation2 and     
7,,ii7 such a revocation is consistent  
with the purpose of this paragraph4  4  
7b7 ,existing customers of non-,bank    
,c,d,f,is ,the ,secretary of the        
,treasury and the ,administrator of the 
,small ,business ,administration shall  
revise any rules or guidance issued to  
carry out section #g7;a77#cf7 of the    
,small ,business ,act 7#ae ,u4,s4,c4    
#fcf7;a77#cf77 to specify that a        
non-bank ,,cdfi does not have to go     
through a reverification of information 

about an existing customer for purposes 
of the ,bank ,secrecy ,act1 if the      
non-bank ,,cdfi has maintained an       
ongoing financial relationship with the 
customer that is well documented1 and   
there is no need for further due        
diligence based on the non-bank ,,cdfi's
 risk-based approach to ,bank ,secrecy  
,act compliance4  7c7 ,definitions ,in  
this ,act3 7#a7 ,bank ,secrecy ,act ,the
 term ,bank ,secrecy ,act means-- 7,a7  
section #ba of the ,federal ,deposit    
,insurance ,act 7#ab ,u4,s4,c4 #ahbi;b72
  7,b7 chapter #b of title ,i of ,public
 ,law #ia-ejh 7#ab ,u4,s4,c4 #aiea et   
seq472 and  7,c7 subchapter ,,ii of     
chapter #ec of title #ca1 ,united       
,states ,code2  7#b7 ,community         
development financial institution ,the  
term community development financial    
institution has the meaning given that  
term under section #ajc of the ,riegle  
,community ,development and ,regulatory 
,improvement ,act of #aiid 7#ab         
,u4,s4,c4 #dgjb74  7#c7 ,non-bank ,,cdfi

 the term non-bank ,,cdfi means a       
community development financial         
institution that is not an insured      
depository institution or insured credit
 union4