,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #gcch  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #ac1         
#bjbd,mr4 ,nunn ( ,i[a 7= himself & ,mr4
 ,davis ( ,nor? ,c>ol9a7 introduc$ !    
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,to e/abli% an ,(fice ( !       
,community ,developm5t ,advocate = !    
,community ,developm5t ,f9ancial        
,in/itutions ,fund1 to e/abli% a process
 = dec]tification ( community developm5t
 f9ancial in/itutions1 & = o!r purposes4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,rural ,cr$it ,access ,act ( #bjbd4 
#b4 ,s5se ( ,congress ,x is ! s5se (    
,congress t-- 7#a7 community developm5t 
f9ancial in/itutions are f9ancial       
in/itutions t seek to exp& economic     
opportunity 9 und]s]v$ rural inve/m5t   
areas & l[-income communities by provid+
 access to f9ancial products & s]vices =
 local resid5ts & bus9esses t o!rwise   
may n be accessible2  7#b7 c]tification 
z a community developm5t f9ancial       

in/itution all[s an in/itution to engage
 sev]al programs outside ( ! ,community 
,developm5t ,f9ancial ,in/itutions ,fund
 to fur!r support ! communities !y s]ve2
  7#c7 ! ,dep>tm5t ( ! ,treasury mu/    
cont9ue to support community developm5t 
f9ancial in/itutions by /&+ up an       
ombudsman (fice & creat+ an ord]ly &    
transp>5t process = dec]tification s z  
to n cause un9t5tional h>m to !         
communities !y s]ve2 &  7#d7 !          
e/abli%m5t ( su* an (fice & process %\ld
 only s]ve to provide c]ta9ty & cl>ity =
 community developm5t f9ancial          
in/itutions1 n to r$uce available funds 
= ! sub/antive "w ( su* in/itutions1 & z
 su*1 appropriate support = ! ,fund to  
accompli% ?is goal mu/ be made          
available4  #c4 ,e/abli%m5t ( an ,(fice 
( ! ,community ,developm5t ,advocate !  
,community ,developm5t ,f9ancial        
,in/itutions ,fund  7a7 ,ombudsman = !  
,community ,developm5t ,f9ancial        
,in/itutions ,fund ,section #ajd ( !    
,riegle ,community ,developm5t &        

,regulatory ,improvem5t ,act ( #aiid    
7#ab ,u4,s4,c4 #dgjc7 is am5d$ by add+  
at ! end ! foll[+ new subsection3  7l7  
,(fice ( ! ,community ,developm5t       
,advocate  7#a7 ,designation ,!         
,adm9i/rator %all e/abli% 9 ! ,fund an  
,(fice ( ! ,community ,developm5t       
,advocate 79 ?is subsection ref]r$ to z 
! ,(fice74  7#b7 ,community ,developm5t 
,advocate  7,a7 ,9 g5]al ,! head ( !    
,(fice %all be ! ,community ,developm5t 
,advocate :o %all-- 7i7 report directly 
to ! ,adm9i/rator2 &  7ii7 be appo9t$ by
 ! ,adm9i/rator f among individuals hav+
 exp]i5ce 9 advocat+ to exp& economic   
opportunity = t>get$ populations &      
inve/m5t areas4  7,b7 ,comp5sation ,!   
annual rate ( pay = ! ,community        
,developm5t ,advocate %all be equal to !
 highe/ rate ( annual pay = o!r s5ior   
executives :o report to ! ,adm9i/rator4 
7,c7 ,limitation on s]vice ,an          
individual :o s]ves z ! ,community      
,developm5t ,advocate may n be employ$  
by ! ,adm9i/rator-- 7i7 dur+ ! #b-ye>   

p]iod end+ on ! date ( appo9tm5t z      
,community ,developm5t ,advocate2 or    
7ii7 dur+ ! #e-ye> p]iod beg9n+ on !    
date on :i* ! p]son ceases to s]ve z !  
,community ,developm5t ,advocate4  7#c7 
,/aff ( ,(fice ,! ,community ,developm5t
 ,advocate may reta9 or employ indep5d5t
 c\nsel1 rese>* /aff1 & s]vice /aff1 z !
 ,community ,developm5t ,advocate deems 
necess>y to c>ry out ! functions &      
duties ( ! ,(fice4  7#d7 ,duties ,!     
,community ,developm5t ,advocate %all   
ensure t community developm5t f9ancial  
in/itutions provide safe & af=dable     
f9ancial products & s]vices to t>get$   
populations & inve/m5t areas4 ,su*      
duties may include ! foll[+3 7,a7       
,collect+1 address+1 & docum5t+         
compla9ts f in/itutions ab\t-- 7i7 !    
process ( becom+ a c]tifi$ community    
developm5t f9ancial in/itution2 &  7ii7 
! process ( apply+ = grants or programs 
( ! ,fund4  7,b7 ,work+ ) ! ,adm9i/rator
 & in/itutions to address compla9ts :]e 
possible1 includ+ ! foll[+3 7i7 ,obta9+ 

cl>ity relat+ to det]m9ations or notices
 ( noncompliance ( an in/itution4  7ii7 
,ensur+ reasonable responsiv5ess ( !    
,adm9i/rator to inquiries f in/itutions4
  7iii7 ,facilitat+ coord9ation betwe5 !
 ,adm9i/rator & appropriate ,f$]al bank+
 ag5cies to ensure full und]/&+ ( issues
 relat$ to safety & s\ndness ( community
 developm5t f9ancial in/itutions or     
legal & regulatory obligations ( su*    
in/itutions4  7iv7 ,ensur+ t community  
developm5t f9ancial in/itutions h timely
 access to te*nical assi/ance =         
application sy/ems adm9i/]$ by !        
,adm9i/rator4  7,c7 ,assess ! effici5cy 
& efficacy ( ! c]tification &           
application processes describ$ 9        
subp>agraph 7,a7 & assess :e!r ! ,fund  
has adequate res\rces = ! numb] (       
applicants4  7#e7 ,report ,! ,community 
,developm5t ,advocate %all submit to    
,congress1 ! ,adm9i/rator1 & !          
,community ,developm5t ,advisory ,bo>d  
an annual report t includes-- 7,a7 an   
assessm5t ( ! responsiv5ess ( !         

,adm9i/rator to inquiries f community   
developm5t f9ancial in/itutions2  7,b7  
an assessm5t ( ! l5g? ( "t tak5 to      
review applications = c]tification or   
rec]tification f su* in/itutions2  7,c7 
! results ( ! assessm5ts conduct$ "u    
p>agraph 7#d77;,c72 &  7,d7 su* o!r     
in=mation1 z det]m9$ by ! ,community    
,developm5t ,advocate4  4  #d4 ,process 
= dec]tification ( community developm5t 
f9ancial in/itutions ,section #aai7;a7 (
 ! ,riegle ,community ,developm5t &     
,regulatory ,improvem5t ,act ( #aiid    
7#ab ,u4,s4,c4 #dgag7 is am5d$ by add+  
at ! end ! foll[+ new p>agraph3  7#c7   
,dec]tification ,n lat] ?an #ahj days   
aft] ! date ( ! enactm5t ( ?is p>agraph1
 ! ,adm9i/rator %all promulgate         
regulations to e/abli% a process =      
revok+ ! c]tification ( a community     
developm5t f9ancial in/itution "u ?is   
,act4 ,su* process %all include-- 7,a7  
provision ( cle>1 writt5 guidance f !   
,adm9i/rator reg>d+ :at con/itutes      
noncompliance t w\ld result 9 !         

revocation ( a c]tification2  7,b7 !    
provision ( mean+ful1 detail$1 &        
individualiz$ notice ( noncompliance to 
! in/itution2  7,c7 id5tification 9 su* 
notice ( a reasonable p]iod to all[ !   
in/itution to cure su* noncompliance1   
:i* p]iod may be ext5d$ by !            
,adm9i/rator1 9 consultation ) !        
,community ,developm5t ,advocate2  7,d7 
if ! ,adm9i/rator provides a notice to  
an in/itution describ+ noncompliance    
relat+ to fraud or misrepres5tation ( ! 
in/itution1 /reaml9$ processes =        
dec]tification ( su* in/itution2  7,e7  
provision ( ! contact in=mation = !     
,(fice ( ,ombudsman2 &  7,f7 a w9d-d[n  
process = a community developm5t        
f9ancial in/itution = :i* c]tification  
has be5 revok$1 e/abli%$ 9 consultation 
) ! appropriate ,f$]al bank+ ag5cy 7z   
def9$ 9 section #c ( ! ,f$]al ,deposit  
,insurance ,act71 to ensure ! safety &  
s\ndness ( ! ,unit$ ,/ates f9ancial     
sy/em4  4  #e4 ,au?orization (          
appropriations ,!re is au?oriz$ to be   

appropriat$ #a1jjj1jjj to ! ,adm9i/rator
 ( ! ,community ,developm5t ,f9ancial   
,in/itutions ,fund to c>ry out ?is      
section4