,i  #aahth ,,congress  #ast ,session    
,h4 ,r4 #cfjd  ,,in ,,the ,,house ,,of  
,,representatives  ,may #bc1 #bjbc,mr4  
,donalds 7for himself and ,mr4 ,crow7   
introduced the following bill2 which was
 referred to the ,committee on ,small   
,business  ,a ,,bill  ,to authorize the 
,administrator of the ,small ,business  
,administration to license lending      
institutions to make loans under section
 #g7;a7 of the ,small ,business ,act1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,expanding ,access to ,affordable       
,credit for ,small ,businesses ,act4    
#b4 ,licensing of lending institutions  
7a7 ,in general ,section #g7;a77#ag7 of 
the ,small ,business ,act 7#ae ,u4,s4,c4
 #fcf7;a77#ag77 is amended to read as   
follows3  7#ag7 ,licensing of lending   
institutions  7,a7 ,in general ,the     
,administration may license lending     
institutions to make loans authorized   
under this subsection4  7,b7 ,criteria  
,in authorizing lending institutions    

under subparagraph 7,a71 the            
,administrator shall ensure that each   
such institution-- 7i7 provides an      
independent audit by a third party or   
internal audit department that examines 
adherence to all applicable ,federal    
laws and regulations relating to        
anti-money laundering1 terrorist        
financing1 sanctions1 and financial     
crimes2 and  7ii7 has in place a        
compliance program that conforms with   
the requirements described in the ,bank 
,secrecy ,act_/,anti-,money ,laundering 
,examination ,manual of the ,financial  
,institutions ,examination ,council and 
other applicable ,federal anti-money    
laundering regulatory guidance1         
including-- 7,i7 an annual financial    
crimes risk assessment2  7,,ii7         
designation of an individual to serve as
 an anti-money laundering officer2      
7,,iii7 a customer identification       
program2  7,,iv7 customer due diligence 
and enhanced due diligence2  7,v7       
suspicious activity monitoring and      

reporting2  7,,vi7 information sharing2 
7,,vii7 record retention2  7,,viii7     
sanctions implemented by the ,office of 
,foreign ,assets ,control2  7,,ix7      
annual employee training1 including     
general training and job-specific       
training2 and  7,x7 monitoring and      
testing4  7,c7 ,prohibition on          
moratorium ,the ,administrator may not  
impose a moratorium on the licensing of 
lending institutions described in       
subparagraph 7,a74  7,d7 ,new applicants
 ,not later than #a year after the date 
of the enactment of this paragraph1 the 
,administrator shall begin accepting    
applications for the licensing of       
lending institutions4  7,e7 ,reports    
,not later than #a year after the date  
of the enactment of this paragraph1 and 
annually thereafter1 the ,administrator 
shall submit to the ,committee on ,small
 ,business and ,entrepreneurship of the 
,senate and the ,committee on ,small    
,business of the ,house of              
,representatives a report that includes1

 with respect to the year preceding the 
report-- 7i7 the number of lending      
institutions that applied to make loans 
under this subsection2  7ii7 the number 
of such lending institutions that the   
,administrator approved to make loans   
under this subsection2  7iii7 the reason
 for any denial of an application of    
such a lending institution2  7iv7 the   
number and total amount of loans made by
 under this subsection by lending       
institutions2 and  7v7 demographic      
information on the recipients of the    
loans described in clause 7iv74  7,f7   
,rule of construction ,nothing in this  
paragraph shall be construed to provide 
authority to the ,administrator to      
regulate small business lending         
companies1 non-,federally regulated     
lenders1 or nondepository lending       
institutions1 or banks4  7,g7           
,definitions ,in this paragraph3 7i7    
,bank ,the term bank has the meaning    
given in section #c of the ,federal     
,deposit ,insurance ,act4  7ii7 ,lending

 institution ,the term lending          
institution has the meaning given such  
term by the ,administrator and shall    
include a small business lending        
company1 a non-,federally regulated     
lender1 a nondepository lending         
institution1 or a bank4  7iii7          
,non-,federally regulated lender2 small 
business lending company ,the terms     
non-,federally regulated lender and     
small business lending company have the 
meanings given1 respectively1 under     
section #bc4  4  7b7 ,authorization of  
appropriations ,there is authorized to  
be appropriated for the ,office of      
,credit ,risk ,management of the ,small 
,business ,administration such sums as  
may be necessary to conduct oversight of
 lending institutions and other entities
 as described under paragraph 7#ag7 of  
section #g7;a7 of the ,small ,business  
,act 7#ae ,u4,s4,c4 #fcf7;a771 as added 
by subsection 7a74