,i #aai? ,,congress #b;d ,session ,h4 ,r4 #hcgc ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,april #bj1 #bjbf,ms4 ,g>cia ( ,texas 7= h]self1 ,ms4 ,norton1 ,mr4 ,c>son1 ,ms4 ,titus1 ,mr4 ,gre5 ( ,texas1 & ,ms4 ,tlaib7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to direct ! ,secret>y ( ! ,treasury1 act+ ?r\gh ! ,director ( ! ,(fice ( ,consum] ,policy1 to e/abli% a program to aw>d grants to eligible entities to provide f9ancial coa*+ s]vices1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,improv+ ,access to ,f9ancial ,coa*+ ,act ( #bjbf4 #b4 ,f9d+s & purpose 7a7 ,f9d+s ,congress f9ds t-- 7#a7 _m consum]s1 p>ticul>ly l[- & mod]ate-income h\seholds1 face significant *all5ges 9 manag+ p]sonal f9ances1 r$uc+ debt1 build+ sav+s1 & access+ responsible cr$it2 7#b7 f9ancial coa*+ s]vices h be5 %[n to improve f9ancial /ability1 increase long-t]m f9ancial capability1 improve cr$it scores1 & r$uce vuln]ability to economic %ocks2 7#c7 nonpr(it & community-bas$ organizations play a critical role 9 tra9+ & deploy+ f9ancial coa*es to deliv] culturally compet5t1 accessible1 & individualiz$ f9ancial coa*+ s]vices to consum]s 9 ne$2 7#d7 ! ,dep>tm5t ( ! ,treasury1 ?r\gh its ,(fice ( ,consum] ,policy1 is well-position$ to adm9i/] a national program support+ f9ancial coa*+ initiatives t promote h\sehold f9ancial resili5ce & economic mobility2 & 7#e7 ! abs5ce ( uni=m c]tification /&>ds = f9ancial coa*es results 9 inconsi/5t s]vice quality & re/ricts ! pr(essional developm5t ( practition]s1 und]scor+ ! ne$ = ,f$]al support to in=m a /&>dization ( cr$5tial+ = f9ancial coa*es & ag5cies t provide ^! s]vices4 7b7 ,purposes ,! purposes ( ?is ,act are-- 7#a7 to e/abli% a ,f$]al program to provide grants to eligible organizations (f]+ f9ancial coa*+ s]vices to consum]s2 7#b7 to /r5g!n ! capacity ( community-bas$ provid]s to deliv] effective1 evid5ce-bas$ f9ancial coa*+2 7#c7 to enhance consum] f9ancial well-be+ by increas+ access to tru/$1 high-quality f9ancial guidance2 & 7#d7 to au?orize ! ,(fice ( ,consum] ,policy )9 ! ,dep>tm5t ( ! ,treasury to adm9i/]1 ov]see1 & evaluate ! program2 & to rese>* & develop /&>diz$ practices = c]tify+ f9ancial coa*es & ! ag5cies t employ !m4 #c4 ,f9ancial coa*+ s]vices grant 7a7 ,e/abli%m5t ,n lat] ?an #a ye> aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y ( ! ,treasury1 act+ ?r\gh ! ,director ( ! ,(fice ( ,consum] ,policy 7h]e9aft] ref]r$ to z ! ,director71 %all e/abli% a program to aw>d grants to eligible entities to provide f9ancial coa*+ s]vices4 7b7 ,eligible entities ,to be eligible = a grant "u ?is section1 an entity %all-- 7#a7 be-- 7,a7 a nonpr(it1 community-bas$ organization2 7,b7 a community developm5t f9ancial in/itution 7z def9$ 9 section #ajc ( ! ,community ,developm5t ,bank+ & ,f9ancial ,in/itutions ,act ( #aiid 7#ab ,u4,s4,c4 #dgjb772 or 7,c7 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 note772 & 7#b7 h-- 7,a7 be5 9 op]ation = n less ?an #a ye>2 7,b7 if s]v+ a cli5tele or s]vice area ) a high rate ( non-,engli% pr(ici5cy speak]s1 e/abli%$ relation%ips ) private1 public1 or nonpr(it community-bas$ entities t provide non-,engli% language s]vices & c provide ref]rals = f9ancial coa*+ s]vices2 7,c7 e/abli%$1 or plans to e/abli%1 a f9ancial coa*+ program z describ$ subsection 7c72 & 7,d7 su* program-- 7i7 locat$ 91 or pr$om9antly s]v+-- 7,i7 #a or m c5sus tracts :]e-- 7aa7 ) respect to a c5sus tract locat$ 9 a metropolitan area1 ! m$ian family income is at or bel[ #abj p]c5t ( ! metropolitan m$ian family income2 or 7bb7 ) respect to a c5sus tract locat$ outside a metropolitan area1 ! m$ian family income is at or bel[ #abj p]c5t ( ! /atewide m$ian family income2 7,,ii7 a c5sus tract :]e n less ?an #ej p]c5t ( ! population self-id5tifies z a racial or e?nic m9ority2 or 7,,iii7 #a or m c5sus tracts 9 a rural area 7z ! t]m is def9$ by ! ,director ( ! ,bureau ( ! ,c5sus72 or 7ii7 pr$om9antly s]v+ individuals mak+ at or bel[ #abj p]c5t ( ! ,area ,m$ian ,income4 7c7 ,application ,an eligible entity t seeks a grant "u ?is section %all submit to ! ,director an application at su* "t1 9 su* mann]1 & conta9+ su* in=mation z ! ,director requires1 includ+ a description (-- 7#a7 organizational in=mation & f9ancial coa*+ s]vices ( su* entity2 7#b7 /aff qualification & exp]i5ce1 includ+ a detail$ description ( any c]tification1 cr$5tial+ or cont9u+ education requir$ ( its f9ancial coa*es2 7#c7 a "w plan t outl9es activities1 t>get audi5ces1 goals1 & anticipat$ results2 7#d7 ! f9ancial /ability ( su* entity1 includ+ f9ancial /atem5ts & a propos$ budget = ! f9ancial coa*+ program ( su* entity2 & 7#e7 languages s]v$ by su* entity4 7d7 ,eligible uses ,! ,secret>y %all aw>d grants to eligible entities "u ?is section to be us$-- 7#a7 by ! eligible entity = g5]al purposes ( su* entity2 or 7#b7 by ! eligible entity = ! purpose ( aw>d+ subgrants & te*nical assi/ance to o!r eligible entities t provide f9ancial coa*+4 7e7 ,f9ancial coa*+ be/ practices ,! ,director %all c>ry out su* activities z necess>y to help elevate be/ practices 9 ! f9ancial coa*+ indu/ry1 & to facilitate ! developm5t ( /&>diz$ protocols = cr$5tial+ f9ancial coa*es & ag5cies t provide ^! s]vices4 7f7 ,au?orization ( appropriations 7#a7 ,9 g5]al ,!re is au?oriz$ to be appropriat$ to ! ,director #ajj1jjj1jjj = fiscal ye>s #bjbf ?r\gh #bjbh1 ( :i*-- 7,a7 #ee p]c5t ( su* appropriat$ sum be us$ = ! purposes describ$ 9 subsection 7d77#a72 & 7,b7 #de p]c5t ( su* appropriat$ sum be us$ = ! purpose describ$ 9 subsection 7d77#b74 7#b7 ,proportions ,! ,director may update ! proportions ( funds describ$ 9 p>agraph 7#a7 if ! ,director det]m9es t !re are insuffici5t am\nts to c>ry out ei!r purposes describ$ 9 p>agraphs 7#a7 & 7#b7 ( subsection 7d74