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19 or a major disaster (whether or not the expenses 
were incurred during a covered period). 
‘‘ ‘(i) CREDIT SCORING MODELS.—A person that cre-
ates and implements credit scoring models may not treat 
the absence, omission, or deletion of any information pur-
suant to this section as a negative factor or negative value 
in credit scoring models created or implemented by such 
person.’. 
‘‘(2) TECHNICAL
AND
CONFORMING
AMEND-
MENT.—The table of contents for the Fair Credit 
Reporting Act is amended by inserting after the 
item relating to section 605B the following: 
‘‘ ‘605C. Reporting of information during major disasters.’. 
‘‘SEC. 4021A. LIMITATIONS ON NEW CREDIT SCORING MOD-
ELS DURING THE COVID–19 EMERGENCY AND 
MAJOR DISASTERS. 
‘‘The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.) is amended— 
‘‘(1) by adding at the end the following: 
‘‘ ‘§ 630. Limitations on new credit scoring models 
during the COVID–19 emergency and 
major disasters 
‘‘ ‘With respect to a person that creates and imple-
ments credit scoring models, such person may not, during 
a covered period (as defined under section 605C), create 
or implement a new credit scoring model (including a revi-
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sion to an existing scoring model) if the new credit scoring 
model would identify a significant percentage of con-
sumers as being less creditworthy when compared to the 
previous credit scoring models created or implemented by 
such person.’; and 
‘‘(2) in the table of contents for such Act, by 
adding at the end the following new item: 
‘‘ ‘630. Limitations on new credit scoring models during the COVID–19 emer-
gency and major disasters.’. 
(b) CLERICAL AMENDMENT.—The table of contents 
in section 2 of the CARES Act is amended by striking 
the item relating to section 4021 and inserting the fol-
lowing: 
‘‘Sec. 4021. Reporting of information during major disasters. 
‘‘Sec. 4021A. Limitations on new credit scoring models during the COVID–19 
emergency and major disasters.’’. 
(c) CONFORMING AMENDMENT.—Subparagraph (F) 
of section 623(a)(1) of the Fair Credit Reporting Act (15 
U.S.C. 1681s–2(a)(1)) is hereby repealed. 
SEC. 110402. RESTRICTIONS ON COLLECTIONS OF CON-
SUMER DEBT DURING A NATIONAL DISASTER 
OR EMERGENCY. 
(a) IN GENERAL.—The Fair Debt Collection Prac-
tices Act (15 U.S.C. 1692 et seq.) is amended by inserting 
after section 812 (15 U.S.C. 1692j) the following: 
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‘‘§ 812A. Restrictions on collections of consumer debt 
during a national disaster or emergency 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) COVERED PERIOD.—The term ‘covered pe-
riod’ means the period beginning on the date of en-
actment of this section and ending 120 days after 
the end of the incident period for the emergency de-
clared on March 13, 2020, by the President under 
section 501 of the Robert T. Stafford Disaster Relief 
and Emergency Assistance Act (42 U.S.C. 4121 et 
seq.) relating to the Coronavirus Disease 2019 
(COVID-19) pandemic. 
‘‘(2) CREDITOR.—The term ‘creditor’ means 
any person— 
‘‘(A) who offers or extends credit creating 
a debt or to whom a debt is owed; or 
‘‘(B) to whom any obligation for payment 
is owed. 
‘‘(3) DEBT.—The term ‘debt’— 
‘‘(A) means any obligation or alleged obli-
gation that is or during the covered period be-
comes past due, other than an obligation aris-
ing out of a credit agreement entered into after 
the effective date of this section, that arises out 
of a transaction with a consumer; and 
‘‘(B) does not include a mortgage loan. 
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‘‘(4) DEBT COLLECTOR.—The term ‘debt col-
lector’ means a creditor and any other person or en-
tity that engages in the collection of debt, including 
the Federal Government and a State government, ir-
respective of whether the applicable debt is allegedly 
owed to or assigned to such creditor, person, or enti-
ty. 
‘‘(5) MORTGAGE
LOAN.—The term ‘mortgage 
loan’ means a covered mortgage loan (as defined 
under section 4022 of the CARES Act) and a multi-
family mortgage loan (as defined under section 4023 
of the CARES Act). 
‘‘(b) PROHIBITIONS.— 
‘‘(1) IN GENERAL.—Notwithstanding any other 
provision of law, no debt collector may, during a cov-
ered period— 
‘‘(A) enforce a security interest securing a 
debt through repossession, limitation of use, or 
foreclosure; 
‘‘(B) take or threaten to take any action to 
deprive an individual of their liberty as a result 
of nonpayment of or nonappearance at any 
hearing relating to an obligation owed by a con-
sumer; 
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‘‘(C) collect any debt, by way of garnish-
ment, attachment, assignment, deduction, off-
set, or other seizure, from— 
‘‘(i) wages, income, benefits, bank, 
prepaid or other asset accounts; or 
‘‘(ii) any assets of, or other amounts 
due to, a consumer; 
‘‘(D) commence or continue an action to 
evict a consumer from real or personal property 
for nonpayment; 
‘‘(E) disconnect or terminate service from 
a utility service, including electricity, natural 
gas, telecommunications or broadband, water, 
or sewer, for nonpayment; or 
‘‘(F) threaten to take any of the foregoing 
actions. 
‘‘(2) RULE
OF
CONSTRUCTION.—Nothing in 
this section may be construed to prohibit a consumer 
from voluntarily paying, in whole or in part, a debt. 
‘‘(c) LIMITATION ON FEES AND INTEREST.—After 
the expiration of a covered period, a debt collector may 
not add to any past due debt any interest on unpaid inter-
est, higher rate of interest triggered by the nonpayment 
of the debt, or fee triggered prior to the expiration of the 
covered period by the nonpayment of the debt. 
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‘‘(e) VIOLATIONS.—Any person or government entity 
that violates this section shall be liable to the applicable 
consumer as provided under section 813, except that, for 
purposes of applying section 813— 
‘‘(1) such person or government entity shall be 
deemed a debt collector, as such term is defined for 
purposes of section 813; and 
‘‘(2) each dollar figure in such section shall be 
deemed to be 10 times the dollar figure specified. 
‘‘(f) TOLLING.—Any applicable time limitations for 
exercising an action prohibited under subsection (b) shall 
be tolled during a covered period. 
‘‘(g) PREDISPUTE ARBITRATION AGREEMENTS.— 
Notwithstanding any other provision of law, no predispute 
arbitration agreement or predispute joint-action waiver 
shall be valid or enforceable with respect to a dispute 
brought under this section, including a dispute as to the 
applicability of this section, which shall be determined 
under Federal law.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
for the Fair Debt Collection Practices Act is amended by 
inserting after the item relating to section 812 the fol-
lowing: 
‘‘812A. Restrictions on collections of consumer debt during a national disaster 
or emergency.’’. 
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SEC. 110403. REPAYMENT PERIOD AND FORBEARANCE FOR 
CONSUMERS. 
Section 812A of the Fair Debt Collection Practices 
Act (15 U.S.C. 1692 et seq.), as added by section 110402, 
is amended— 
(1) by inserting after subsection (c) the fol-
lowing: 
‘‘(d) REPAYMENT PERIOD.—After the expiration of 
a covered period, a debt collector shall comply with the 
following: 
‘‘(1) DEBT ARISING FROM CREDIT WITH A DE-
FINED
PAYMENT
PERIOD.—For any debt arising 
from credit with a defined term, the debt collector 
shall extend the time period to repay any past due 
balance of the debt by— 
‘‘(A) 1 payment period for each payment 
that a consumer missed during the covered pe-
riod, with the payments due in the same 
amounts and at the same intervals as the pre- 
existing payment schedule; and 
‘‘(B) 1 payment period in addition to the 
payment periods described under subparagraph 
(A). 
‘‘(2) DEBT ARISING FROM AN OPEN END CRED-
IT PLAN.—For debt arising from an open end credit 
plan, as defined in section 103 of the Truth in 
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Lending Act (15 U.S.C. 1602), the debt collector 
shall allow the consumer to repay the past-due bal-
ance in a manner that does not exceed the amounts 
permitted by the methods described in section 
171(c) of the Truth in Lending Act (15 U.S.C. 
1666i–1(c)) and regulations promulgated under that 
section. 
‘‘(3) DEBT ARISING FROM OTHER CREDIT.— 
‘‘(A) IN
GENERAL.—For debt not de-
scribed under paragraph (2) or (3), the debt 
collector shall— 
‘‘(i) allow the consumer to repay the 
past-due balance of the debt in substan-
tially equal payments over time; and 
‘‘(ii) provide the consumer with— 
‘‘(I) for past due balances of 
$2,000 or less, 12 months to repay, or 
such longer period as the debt col-
lector may allow; 
‘‘(II) for past due balances be-
tween $2,001 and $5,000, 24 months 
to repay, or such longer period as the 
debt collector may allow; or 
‘‘(III) for past due balances 
greater than $5,000, 36 months to 
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repay, or such longer period as the 
debt collector may allow. 
‘‘(B) ADDITIONAL PROTECTIONS.—The Di-
rector of the Bureau may issue rules to provide 
greater repayment protections to consumers 
with debts described under subparagraph (A). 
‘‘(C) RELATION
TO
STATE
LAW.—This 
paragraph shall not preempt any State law that 
provides for greater consumer protections than 
this paragraph.’’; and 
(2) by adding at the end the following: 
‘‘(h) FORBEARANCE FOR AFFECTED CONSUMERS.— 
‘‘(1) FORBEARANCE PROGRAM.—Each debt col-
lector that makes use of the credit facility described 
in paragraph (4) shall establish a forbearance pro-
gram for debts available during the covered period. 
‘‘(2) AUTOMATIC
GRANT
OF
FORBEARANCE 
UPON REQUEST.—Under a forbearance program re-
quired under paragraph (1), upon the request of a 
consumer experiencing a financial hardship due, di-
rectly or indirectly, to COVID–19, the debt collector 
shall grant a forbearance on payment of debt for 
such time as needed until the end of the covered pe-
riod, with no additional documentation required 
other than the borrower’s attestation to a financial 
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hardship caused by COVID–19 and with no fees, 
penalties, or interest (beyond the amounts scheduled 
or calculated as if the borrower made all contractual 
payments on time and in full under the terms of the 
loan contract) charged to the borrower in connection 
with the forbearance. 
‘‘(3) EXCEPTION
FOR
CERTAIN
MORTGAGE 
LOANS
SUBJECT
TO
THE
CARES
ACT.—This sub-
section shall not apply to a mortgage loan subject to 
section 4022 or 4023 of the CARES Act.’’. 
SEC. 110404. CREDIT FACILITY. 
Section 812A(h) of the Fair Debt Collection Prac-
tices Act (15 U.S.C. 1692 et seq.), as added by section 
110403, is amended by adding at the end the following: 
‘‘(4) CREDIT
FACILITY.—The Board of Gov-
ernors of the Federal Reserve System shall— 
‘‘(A) establish a facility, using amounts 
made available under section 4003(b)(4) of the 
CARES Act (15 U.S.C. 9042(b)(4)), to make 
long-term, low-cost loans to debt collectors to 
temporarily compensate such debt collectors for 
documented financial losses caused by forbear-
ance of debt payments under this subsection; 
and 
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‘‘(B) defer debt collectors’ required pay-
ments on such loans until after consumers’ debt 
payments resume.’’. 
TITLE V—FORGIVING STUDENT 
LOAN 
DEBT 
AND 
PRO-
TECTING 
STUDENT 
BOR-
ROWERS 
SEC. 110501. PAYMENTS FOR PRIVATE EDUCATION LOAN 
BORROWERS AS A RESULT OF THE COVID–19 
NATIONAL EMERGENCY. 
(a) IN GENERAL.—Section 140 of the Truth in Lend-
ing Act (15 U.S.C. 1650) is amended by adding at the 
end the following new subsection: 
‘‘(h) COVID–19 NATIONAL EMERGENCY PRIVATE 
EDUCATION LOAN REPAYMENT ASSISTANCE.— 
‘‘(1) AUTHORITY.— 
‘‘(A) IN GENERAL.—Effective on the date 
of the enactment of this section, until Sep-
tember 30, 2021, the Secretary of the Treasury 
shall, for each borrower of a private education 
loan, pay the total amount due for such month 
on the loan, based on the payment plan selected 
by the borrower or the borrower’s loan status. 
‘‘(B) LIMITATION
ON
PAYMENTS.—The 
maximum amount of aggregate payments that 
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the Secretary of the Treasury may make under 
subparagraph (A) with respect to an individual 
borrower is $10,000. 
‘‘(2) NO CAPITALIZATION OF INTEREST.—With 
respect to any loan in repayment until September 
30, 2021, interest due on a private education loan 
during such period shall not be capitalized at any 
time until after September 30, 2021. 
‘‘(3) REPORTING
TO
CONSUMER
REPORTING 
AGENCIES.—Until September 30, 2021— 
‘‘(A) during the period in which the Sec-
retary of the Treasury is making payments on 
a loan under paragraph (1), the Secretary shall 
ensure that, for the purpose of reporting infor-
mation about the loan to a consumer reporting 
agency, any payment made by the Secretary is 
treated as if it were a regularly scheduled pay-
ment made by a borrower; and 
‘‘(B) no adverse credit information may be 
furnished to a consumer reporting agency for 
any private education loan. 
‘‘(4) NOTICE OF PAYMENTS AND PROGRAM.— 
Not later than 15 days following the date of enact-
ment of this subsection, and monthly thereafter until 
September 30, 2021, the Secretary of the Treasury 
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shall provide a notice to all borrowers of private edu-
cation loans— 
‘‘(A) informing borrowers of the actions 
taken under this subsection; 
‘‘(B) providing borrowers with an easily 
accessible method to opt out of the benefits pro-
vided under this subsection; and 
‘‘(C) notifying the borrower that the pro-
gram under this subsection is a temporary pro-
gram and will end on September 30, 2021. 
‘‘(5) SUSPENSION
OF
INVOLUNTARY
COLLEC-
TION.—Until September 30, 2021, the holder of a 
private education loan shall immediately take action 
to halt all involuntary collection related to the loan. 
‘‘(6) MANDATORY FORBEARANCE.—During the 
period in which the Secretary of the Treasury is 
making payments on a loan under paragraph (1), 
the servicer of such loan shall grant the borrower 
forbearance as follows: 
‘‘(A) A temporary cessation of all pay-
ments on the loan other than the payments of 
interest and principal on the loan that are made 
under paragraph (1). 
‘‘(B) For borrowers who are delinquent 
but who are not yet in default before the date 
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on which the Secretary begins making payments 
under paragraph (1), the retroactive application 
of forbearance to address any delinquency. 
‘‘(7) DATA
TO
IMPLEMENT.—Holders and 
servicers of private education loans shall report, to 
the satisfaction of the Secretary of the Treasury, the 
information necessary to calculate the amount to be 
paid under this subsection. 
‘‘(8) APPLICATION
ONLY
TO
ECONOMICALLY 
DISTRESSED BORROWERS.— 
‘‘(A) IN GENERAL.—This subsection shall 
only apply to a borrower of a private education 
loan who is an economically distressed bor-
rower. 
‘‘(B) ECONOMICALLY
DISTRESSED
BOR-
ROWER DEFINED.—In this paragraph, the term 
‘economically distressed borrower’ means a bor-
rower of a private education loan who, as of 
March 12, 2020— 
‘‘(i) based on financial state or other 
conditions, would be otherwise eligible, if 
the borrower instead had a Federal stu-
dent loan, of having a monthly payment 
due on such loan of $0 pursuant to an in-
come-contingent repayment plan under sec-
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tion 455(d)(1)(D) of the Higher Education 
Act of 1965 (20 U.S.C. 1087e(d)(1)(D)) 
or an income-based repayment plan under 
section 493C of such Act (20 U.S.C. 
1098e); 
‘‘(ii) was in default on such loan; 
‘‘(iii) had a payment due on such loan 
that was at least 90 days past due; or 
‘‘(iv) based on financial state or other 
conditions, 
was 
in 
forbearance 
or 
deferment. 
‘‘(C) RULEMAKING.—Not later than 7 
days after the date of enactment of this para-
graph, the Director of the Bureau, in consulta-
tion with the Secretary of Education, shall issue 
rules to implement this paragraph, including 
providing a detailed description of how a bor-
rower of a private education loan will be consid-
ered an economically distressed borrower as de-
fined under each clause of subparagraph (B).’’. 
(b) APPROPRIATION.—There is appropriated to the 
Secretary of the Treasury, out of amounts in the Treasury 
not otherwise appropriated, $45,000,000,000 to carry out 
this title and the amendments made by this title. 
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SEC. 110502. ADDITIONAL PROTECTIONS FOR PRIVATE STU-
DENT LOAN BORROWERS. 
(a) IN GENERAL.— 
(1) REPAYMENT
PLAN
AND
FORGIVENESS 
TERMS.—Each private education loan holder who re-
ceives a monthly payment pursuant to section 
140(h) of the Truth in Lending Act shall modify all 
private education loan contracts that it holds to pro-
vide for the same repayment plan and forgiveness 
terms available to Direct Loans borrowers under 
section 685.209(c) of title 34, Code of Federal Reg-
ulations, in effect as of January 1, 2020. 
(2) TREATMENT OF STATE STATUTES OF LIMI-
TATION.—For a borrower who has defaulted on a 
private education loan under the terms of the prom-
issory note prior to any loan payment made or for-
bearance granted under section 140(h) of the Truth 
in Lending Act, no payment made or forbearance 
granted under such section 140(h) shall be consid-
ered an event that impacts the calculation of the ap-
plicable State statutes of limitation. 
(3) 
PROHIBITION
ON
PRESSURING
BOR-
ROWERS.— 
(A) IN
GENERAL.—A private education 
loan debt collector or creditor may not pressure 
a borrower to elect to apply any amount re-
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ceived pursuant to subsection (b) to any private 
education loan. 
(B) VIOLATIONS.—A violation of this para-
graph is deemed— 
(i) an unfair, deceptive, or abusive act 
or practice under Federal law in connec-
tion with any transaction with a consumer 
for a consumer financial product or service 
under section 1031 of the Consumer Fi-
nancial Protection Act of 2010 (12 U.S.C. 
5531); and 
(ii) with respect to a violation by a 
debt collector, an unfair or unconscionable 
means to collect or attempt to collect any 
debt under section 808 of the Federal 
Debt Collection Practices Act (15 U.S.C. 
1692f). 
(C) PRESSURE
DEFINED.—In this para-
graph, the term ‘‘pressure’’ means any commu-
nication, recommendation, or other similar com-
munication, other than providing basic informa-
tion about a borrower’s options, urging a bor-
rower to make an election described under sub-
section (b). 
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(b) RELIEF
FOR PRIVATE STUDENT LOAN BOR-
ROWERS AS A RESULT OF THE COVID–19 NATIONAL 
EMERGENCY.— 
(1) STUDENT LOAN RELIEF AS A RESULT OF 
THE
COVID–19
NATIONAL
EMERGENCY.—Not later 
than 90 days after September 30, 2021, the Sec-
retary of the Treasury shall carry out a program 
under which a borrower, with respect to the private 
education loans of such borrower, shall receive in ac-
cordance with paragraph (3) an amount equal to the 
lesser of— 
(A) the total amount of each private edu-
cation loan of the borrower; or 
(B) $10,000, reduced by the aggregate 
amount of all payments made by the Secretary 
of the Treasury with respect to such borrower 
under section 140(h) of the Truth in Lending 
Act. 
(2) NOTIFICATION OF BORROWERS.—Not later 
than 90 days after September 30, 2021, the Sec-
retary of the Treasury shall notify each borrower of 
a private education loan of— 
(A) the requirements to provide loan relief 
to such borrower under this section; and 
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apply the amount determined with respect 
to such borrower under paragraph (1) first 
to the loan with the highest principal. 
(c) APPLICATION ONLY
TO ECONOMICALLY DIS-
TRESSED BORROWERS.—This section shall only apply to 
a borrower of a private education loan who is an economi-
cally distressed borrower. 
(d) DEFINITIONS.—In this section: 
(1) FAIR
DEBT
COLLECTION
PRACTICES
ACT 
TERMS.—The terms ‘‘creditor’’ and ‘‘debt collector’’ 
have the meaning given those terms, respectively, 
under section 803 of the Fair Debt Collection Prac-
tices Act (15 U.S.C. 1692a). 
(2) PRIVATE
EDUCATION
LOAN.—The term 
‘‘private education loan’’ has the meaning given the 
term in section 140 of the Truth in Lending Act (15 
U.S.C. 1650). 
(3) ECONOMICALLY
DISTRESSED
BORROWER 
DEFINED.—The term ‘‘economically distressed bor-
rower’’ has the meaning given that term under sec-
tion 140(h)(8) of the Truth in Lending Act, as 
added by section 110501. 
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TITLE VI—STANDING UP FOR 
SMALL BUSINESSES, MINOR-
ITY-OWNED BUSINESSES, AND 
NON-PROFITS 
SEC. 110601. RESTRICTIONS ON COLLECTIONS OF SMALL 
BUSINESS AND NONPROFIT DEBT DURING A 
NATIONAL DISASTER OR EMERGENCY. 
(a) IN GENERAL.—The Fair Debt Collection Prac-
tices Act (15 U.S.C. 1692 et seq.), as amended by section 
110402, is further amended by inserting after section 
812A the following: 
‘‘§ 812B. Restrictions on collections of small business 
and nonprofit debt during a national dis-
aster or emergency 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) COVERED PERIOD.—The term ‘covered pe-
riod’ means the period beginning on the date of en-
actment of this section and ending 120 days after 
the end of the incident period for the emergency de-
clared on March 13, 2020, by the President under 
section 501 of the Robert T. Stafford Disaster Relief 
and Emergency Assistance Act (42 U.S.C. 4121 et 
seq.) relating to the Coronavirus Disease 2019 
(COVID-19) pandemic. 
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‘‘(2) CREDITOR.—The term ‘creditor’ means 
any person— 
‘‘(A) who offers or extends credit creating 
a debt or to whom a debt is owed; or 
‘‘(B) to whom any obligation for payment 
is owed. 
‘‘(3) DEBT.—The term ‘debt’— 
‘‘(A) means any obligation or alleged obli-
gation that is or during the covered period be-
comes past due, other than an obligation aris-
ing out of a credit agreement entered into after 
the effective date of this section, that arises out 
of a transaction with a nonprofit organization 
or small business; and 
‘‘(B) does not include a mortgage loan. 
‘‘(4) DEBT COLLECTOR.—The term ‘debt col-
lector’ means a creditor and any other person or en-
tity that engages in the collection of debt, including 
the Federal Government and a State government, ir-
respective of whether the applicable debt is allegedly 
owed to or assigned to such creditor, person, or enti-
ty. 
‘‘(5) MORTGAGE
LOAN.—The term ‘mortgage 
loan’ means a covered mortgage loan (as defined 
under section 4022 of the CARES Act) and a multi-
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family mortgage loan (as defined under section 4023 
of the CARES Act). 
‘‘(6) NONPROFIT
ORGANIZATION.—The term 
‘nonprofit organization’ means an organization that 
is described in section 501(c)(3) of the Internal Rev-
enue Code of 1986 and that is exempt from taxation 
under section 501(a) of such Code. 
‘‘(7) SMALL BUSINESS.—The term ‘small busi-
ness’ has the meaning given the term ‘small business 
concern’ in section 3 of the Small Business Act (15 
U.S.C. 632). 
‘‘(b) PROHIBITIONS.— 
‘‘(1) IN GENERAL.—Notwithstanding any other 
provision of law, no debt collector may, during a cov-
ered period— 
‘‘(A) enforce a security interest securing a 
debt through repossession, limitation of use, or 
foreclosure; 
‘‘(B) take or threaten to take any action to 
deprive an individual of their liberty as a result 
of nonpayment of or nonappearance at any 
hearing relating to an obligation owed by a 
small business or nonprofit organization; 
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‘‘(C) collect any debt, by way of garnish-
ment, attachment, assignment, deduction, off-
set, or other seizure, from— 
‘‘(i) wages, income, benefits, bank, 
prepaid or other asset accounts; or 
‘‘(ii) any assets of, or other amounts 
due to, a small business or nonprofit orga-
nization; 
‘‘(D) commence or continue an action to 
evict a small business or nonprofit organization 
from real or personal property for nonpayment; 
‘‘(E) disconnect or terminate service from 
a utility service, including electricity, natural 
gas, telecommunications or broadband, water, 
or sewer, for nonpayment; or 
‘‘(F) threaten to take any of the foregoing 
actions. 
‘‘(2) RULE
OF
CONSTRUCTION.—Nothing in 
this section may be construed to prohibit a small 
business or nonprofit organization from voluntarily 
paying, in whole or in part, a debt. 
‘‘(c) LIMITATION ON FEES AND INTEREST.—After 
the expiration of a covered period, a debt collector may 
not add to any past due debt any interest on unpaid inter-
est, higher rate of interest triggered by the nonpayment 
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of the debt, or fee triggered prior to the expiration of the 
covered period by the nonpayment of the debt. 
‘‘(e) VIOLATIONS.—Any person or government entity 
that violates this section shall be liable to the applicable 
small business or nonprofit organization as provided under 
section 813, except that, for purposes of applying section 
813— 
‘‘(1) such person or government entity shall be 
deemed a debt collector, as such term is defined for 
purposes of section 813; and 
‘‘(2) such small business or nonprofit organiza-
tion shall be deemed a consumer, as such term is de-
fined for purposes of section 813. 
‘‘(f) TOLLING.—Any applicable time limitations for 
exercising an action prohibited under subsection (b) shall 
be tolled during a covered period. 
‘‘(g) PREDISPUTE ARBITRATION AGREEMENTS.— 
Notwithstanding any other provision of law, no predispute 
arbitration agreement or predispute joint-action waiver 
shall be valid or enforceable with respect to a dispute 
brought under this section, including a dispute as to the 
applicability of this section, which shall be determined 
under Federal law.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
for the Fair Debt Collection Practices Act, as amended 
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by section 110402, is further amended by inserting after 
the item relating to section 812A the following: 
‘‘812B. Restrictions on collections of small business and nonprofit debt during 
a national disaster or emergency.’’. 
SEC. 110602. REPAYMENT PERIOD AND FORBEARANCE FOR 
SMALL BUSINESSES AND NONPROFIT ORGA-
NIZATIONS. 
Section 812B of the Fair Debt Collection Practices 
Act (15 U.S.C. 1692 et seq.), as added by section 110601, 
is amended— 
(1) by inserting after subsection (c) the fol-
lowing: 
‘‘(d) REPAYMENT PERIOD.—After the expiration of 
a covered period, a debt collector shall comply with the 
following: 
‘‘(1) DEBT ARISING FROM CREDIT WITH A DE-
FINED
PAYMENT
PERIOD.—For any debt arising 
from credit with a defined term, the debt collector 
shall extend the time period to repay any past due 
balance of the debt by— 
‘‘(A) 1 payment period for each payment 
that a small business or nonprofit organization 
missed during the covered period, with the pay-
ments due in the same amounts and at the 
same intervals as the pre-existing payment 
schedule; and 
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‘‘(B) 1 payment period in addition to the 
payment periods described under subparagraph 
(A). 
‘‘(2) DEBT ARISING FROM AN OPEN END CRED-
IT PLAN.—For debt arising from an open end credit 
plan, as defined in section 103 of the Truth in 
Lending Act (15 U.S.C. 1602), the debt collector 
shall allow the small business or nonprofit organiza-
tion to repay the past-due balance in a manner that 
does not exceed the amounts permitted by the meth-
ods described in section 171(c) of the Truth in 
Lending Act (15 U.S.C. 1666i–1(c)) and regulations 
promulgated under that section. 
‘‘(3) DEBT ARISING FROM OTHER CREDIT.— 
‘‘(A) IN
GENERAL.—For debt not de-
scribed under paragraph (2) or (3), the debt 
collector shall— 
‘‘(i) allow the small business or non-
profit organization to repay the past-due 
balance of the debt in substantially equal 
payments over time; and 
‘‘(ii) provide the small business or 
nonprofit organization with— 
‘‘(I) for past due balances of 
$2,000 or less, 12 months to repay, or 
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such longer period as the debt col-
lector may allow; 
‘‘(II) for past due balances be-
tween $2,001 and $5,000, 24 months 
to repay, or such longer period as the 
debt collector may allow; or 
‘‘(III) for past due balances 
greater than $5,000, 36 months to 
repay, or such longer period as the 
debt collector may allow. 
‘‘(B) ADDITIONAL PROTECTIONS.—The Di-
rector of the Bureau may issue rules to provide 
greater repayment protections to small busi-
nesses and nonprofit organizations with debts 
described under subparagraph (A). 
‘‘(C) RELATION
TO
STATE
LAW.—This 
paragraph shall not preempt any State law that 
provides for greater small business or nonprofit 
organization protections than this paragraph.’’; 
and 
(2) by adding at the end the following: 
‘‘(h) FORBEARANCE FOR AFFECTED SMALL BUSI-
NESSES AND NONPROFIT ORGANIZATIONS.— 
‘‘(1) FORBEARANCE PROGRAM.—Each debt col-
lector that makes use of the credit facility described 
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in paragraph (4) shall establish a forbearance pro-
gram for debts available during the covered period. 
‘‘(2) AUTOMATIC
GRANT
OF
FORBEARANCE 
UPON REQUEST.—Under a forbearance program re-
quired under paragraph (1), upon the request of a 
small business or nonprofit organization experi-
encing a financial hardship due, directly or indi-
rectly, to COVID–19, the debt collector shall grant 
a forbearance on payment of debt for such time as 
needed until the end of the covered period, with no 
additional documentation required other than the 
small business or nonprofit organization’s attestation 
to a financial hardship caused by COVID–19 and 
with no fees, penalties, or interest (beyond the 
amounts scheduled or calculated as if the borrower 
made all contractual payments on time and in full 
under the terms of the loan contract) charged to the 
borrower in connection with the forbearance. 
‘‘(3) EXCEPTION
FOR
CERTAIN
MORTGAGE 
LOANS
SUBJECT
TO
THE
CARES
ACT.—This sub-
section shall not apply to a mortgage loan subject to 
section 4022 or 4023 of the CARES Act.’’. 
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SEC. 110603. CREDIT FACILITY. 
Section 812B(h) of the Fair Debt Collection Prac-
tices Act (15 U.S.C. 1692 et seq.), as added by section 
110602, is amended by adding at the end the following: 
‘‘(4) CREDIT
FACILITY.—The Board of Gov-
ernors of the Federal Reserve System shall— 
‘‘(A) establish a facility, using amounts 
made available under section 4003(b)(4) of the 
CARES Act (15 U.S.C. 9042(b)(4)), to make 
long-term, low-cost loans to debt collectors to 
temporarily compensate such debt collectors for 
documented financial losses caused by forbear-
ance of debt payments under this subsection; 
and 
‘‘(B) defer debt collectors’ required pay-
ments on such loans until after small businesses 
or nonprofit organizations’ debt payments re-
sume.’’. 
SEC. 110604. MAIN STREET LENDING PROGRAM REQUIRE-
MENTS. 
(a) IN GENERAL.—Section 4003(c)(3)(D)(ii) of the 
CARES Act (15 U.S.C. 9042(c)(3)(D)(ii)) is amended— 
(1) by striking ‘‘Nothing in this subparagraph 
shall limit the discretion of the Board of Governors 
of the Federal Reserve System to’’ and inserting the 
following: 
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‘‘(I) IN GENERAL.—The Board of 
Governors of the Federal Reserve Sys-
tem shall’’; and 
(2) by adding at the end the following: 
‘‘(II) REQUIREMENTS.—In car-
rying out subclause (I), the Board of 
Governors of the Federal Reserve Sys-
tem— 
‘‘(aa) shall make non-profit 
organizations and institutions of 
higher education (as such term is 
defined in section 101(a) of the 
Higher Education Act of 1965 
(20 U.S.C. 1001(a)) eligible for 
any program or facility estab-
lished under such subclause; 
‘‘(bb) shall create a low-cost 
loan option tailored to the unique 
needs of non-profit organizations, 
including the ability to defer pay-
ments without capitalization of 
interest and, solely for non-profit 
organizations that predominantly 
serve low-income communities, as 
determined by the Federal Re-
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serve, have the loans forgiven by 
the Department of the Treasury 
for a similar purpose to maintain 
payroll and operations provided 
under the Paycheck Protection 
Program, notwithstanding section 
4003(d)(3) of the CARES Act; 
‘‘(cc) 
shall 
make 
any 
501(c)(4) organization (as de-
fined in section 501(c)(4) of the 
Internal Revenue Code of 1986) 
eligible for any facility provided 
that such 501(c)(4) organization 
has not made and will not make 
a contribution, expenditure, inde-
pendent expenditure, or election-
eering communication within the 
meaning of the Federal Election 
Campaign Act, and has not un-
dertaken and will not undertake 
similar campaign finance activi-
ties in state and local elections, 
during the election cycle which 
ends on the date of the general 
election in this calendar year;’’. 
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(b) DEADLINE.—Not later than the end of the 5-day 
period beginning on the date of enactment of this Act, the 
Board of Governors of the Federal Reserve System shall 
issue such rules or take such other actions as may be nec-
essary to implement the requirements made by the amend-
ments made by this section. 
SEC. 110605. OPTIONS FOR SMALL BUSINESSES AND NON- 
PROFITS UNDER THE MAIN STREET LENDING 
PROGRAM. 
(a) IN GENERAL.—Section 4003(c)(3)(D)(ii)(II) of 
the CARES Act (15 U.S.C. 9042(c)(3)(D)(ii)(II)), as 
added by section 110604, is further amended by adding 
at the end the following: 
‘‘(cc) shall provide at least 
one low-cost loan option that 
small businesses, small non-prof-
its, and small institutions of 
higher education (as such term is 
defined in section 101(a) of the 
Higher Education Act of 1965 
(20 U.S.C. 1001(a)) are eligible 
for that does not have a min-
imum loan size and includes the 
ability to defer payments, without 
capitalization of interest, and, 
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solely for small nonprofit organi-
zations that predominantly serve 
low-income communities, as de-
termined by the Federal Reserve, 
have the loans forgiven by the 
Department of the Treasury for 
a similar purpose to maintain 
payroll and operations provided 
under the Paycheck Protection 
Program, notwithstanding section 
4003(d)(3) of the CARES Act.’’. 
(b) DEADLINE.—Not later than the end of the 5-day 
period beginning on the date of enactment of this Act, the 
Board of Governors of the Federal Reserve System shall 
issue such rules or take such other actions as may be nec-
essary to implement the requirements made by the amend-
ments made by this section. 
SEC. 110606. SAFE BANKING. 
(a) SHORT TITLE; PURPOSE.— 
(1) SHORT TITLE.—This section may be cited 
as the ‘‘Secure And Fair Enforcement Banking Act 
of 2020’’ or the ‘‘SAFE Banking Act of 2020’’. 
(2) PURPOSE.—The purpose of this section is 
to increase public safety by ensuring access to finan-
cial services to cannabis-related legitimate businesses 
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and service providers and reducing the amount of 
cash at such businesses. 
(b) SAFE
HARBOR
FOR
DEPOSITORY
INSTITU-
TIONS.— 
(1) IN GENERAL.—A Federal banking regulator 
may not— 
(A) terminate or limit the deposit in-
surance or share insurance of a depository 
institution under the Federal Deposit In-
surance Act (12 U.S.C. 1811 et seq.), the 
Federal Credit Union Act (12 U.S.C. 1751 
et seq.), or take any other adverse action 
against a depository institution under sec-
tion 8 of the Federal Deposit Insurance 
Act (12 U.S.C. 1818) solely because the 
depository institution provides or has pro-
vided financial services to a cannabis-re-
lated legitimate business or service pro-
vider; 
(B) prohibit, penalize, or otherwise 
discourage a depository institution from 
providing financial services to a cannabis- 
related legitimate business or service pro-
vider or to a State, political subdivision of 
a State, or Indian Tribe that exercises ju-
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risdiction over cannabis-related legitimate 
businesses; 
(C) recommend, incentivize, or en-
courage a depository institution not to 
offer financial services to an account hold-
er, or to downgrade or cancel the financial 
services offered to an account holder solely 
because— 
(i) the account holder is a can-
nabis-related legitimate business or 
service provider, or is an employee, 
owner, or operator of a cannabis-re-
lated legitimate business or service 
provider; 
(ii) the account holder later be-
comes an employee, owner, or oper-
ator of a cannabis-related legitimate 
business or service provider; or 
(iii) the depository institution 
was not aware that the account holder 
is an employee, owner, or operator of 
a cannabis-related legitimate business 
or service provider; 
(D) take any adverse or corrective su-
pervisory action on a loan made to— 
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(i) a cannabis-related legitimate 
business or service provider, solely be-
cause the business is a cannabis-re-
lated legitimate business or service 
provider; 
(ii) an employee, owner, or oper-
ator of a cannabis-related legitimate 
business or service provider, solely be-
cause the employee, owner, or oper-
ator is employed by, owns, or operates 
a cannabis-related legitimate business 
or service provider, as applicable; or 
(iii) an owner or operator of real 
estate or equipment that is leased to 
a cannabis-related legitimate business 
or service provider, solely because the 
owner or operator of the real estate or 
equipment leased the equipment or 
real estate to a cannabis-related legiti-
mate business or service provider, as 
applicable; or 
(E) prohibit or penalize a depository 
institution (or entity performing a financial 
service for or in association with a deposi-
tory institution) for, or otherwise discour-
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age a depository institution (or entity per-
forming a financial service for or in asso-
ciation with a depository institution) from, 
engaging in a financial service for a can-
nabis-related legitimate business or service 
provider. 
(2) SAFE HARBOR APPLICABLE TO DE NOVO IN-
STITUTIONS.—Paragraph (1) shall apply to an insti-
tution applying for a depository institution charter 
to the same extent as such subsection applies to a 
depository institution. 
(c) PROTECTIONS FOR ANCILLARY BUSINESSES.— 
For the purposes of sections 1956 and 1957 of title 18, 
United States Code, and all other provisions of Federal 
law, the proceeds from a transaction involving activities 
of a cannabis-related legitimate business or service pro-
vider shall not be considered proceeds from an unlawful 
activity solely because— 
(1) the transaction involves proceeds from a 
cannabis-related legitimate business or service pro-
vider; or 
(2) the transaction involves proceeds from— 
(A) cannabis-related activities described in 
subsection (n)(4)(B) conducted by a cannabis- 
related legitimate business; or 
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(B) activities described in subsection 
(n)(13)(A) conducted by a service provider. 
(d) PROTECTIONS UNDER FEDERAL LAW.— 
(1) IN GENERAL.—With respect to providing a 
financial service to a cannabis-related legitimate 
business or service provider within a State, political 
subdivision of a State, or Indian country that allows 
the cultivation, production, manufacture, sale, trans-
portation, display, dispensing, distribution, or pur-
chase of cannabis pursuant to a law or regulation of 
such State, political subdivision, or Indian Tribe 
that has jurisdiction over the Indian country, as ap-
plicable, a depository institution, entity performing a 
financial service for or in association with a deposi-
tory institution, or insurer that provides a financial 
service to a cannabis-related legitimate business or 
service provider, and the officers, directors, and em-
ployees of that depository institution, entity, or in-
surer may not be held liable pursuant to any Federal 
law or regulation— 
(A) solely for providing such a financial 
service; or 
(B) for further investing any income de-
rived from such a financial service. 
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(2) PROTECTIONS
FOR
FEDERAL
RESERVE 
BANKS AND FEDERAL HOME LOAN BANKS.—With 
respect to providing a service to a depository institu-
tion that provides a financial service to a cannabis- 
related legitimate business or service provider (where 
such financial service is provided within a State, po-
litical subdivision of a State, or Indian country that 
allows the cultivation, production, manufacture, sale, 
transportation, display, dispensing, distribution, or 
purchase of cannabis pursuant to a law or regulation 
of such State, political subdivision, or Indian Tribe 
that has jurisdiction over the Indian country, as ap-
plicable), a Federal reserve bank or Federal Home 
Loan Bank, and the officers, directors, and employ-
ees of the Federal reserve bank or Federal Home 
Loan Bank, may not be held liable pursuant to any 
Federal law or regulation— 
(A) solely for providing such a service; or 
(B) for further investing any income de-
rived from such a service. 
(3) PROTECTIONS
FOR
INSURERS.—With re-
spect to engaging in the business of insurance within 
a State, political subdivision of a State, or Indian 
country that allows the cultivation, production, man-
ufacture, sale, transportation, display, dispensing, 
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distribution, or purchase of cannabis pursuant to a 
law or regulation of such State, political subdivision, 
or Indian Tribe that has jurisdiction over the Indian 
country, as applicable, an insurer that engages in 
the business of insurance with a cannabis-related le-
gitimate business or service provider or who other-
wise engages with a person in a transaction permis-
sible under State law related to cannabis, and the 
officers, directors, and employees of that insurer 
may not be held liable pursuant to any Federal law 
or regulation— 
(A) solely for engaging in the business of 
insurance; or 
(B) for further investing any income de-
rived from the business of insurance. 
(4) FORFEITURE.— 
(A) DEPOSITORY INSTITUTIONS.—A depos-
itory institution that has a legal interest in the 
collateral for a loan or another financial service 
provided to an owner, employee, or operator of 
a cannabis-related legitimate business or service 
provider, or to an owner or operator of real es-
tate or equipment that is leased or sold to a 
cannabis-related legitimate business or service 
provider, shall not be subject to criminal, civil, 
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or administrative forfeiture of that legal inter-
est pursuant to any Federal law for providing 
such loan or other financial service. 
(B) FEDERAL RESERVE BANKS AND FED-
ERAL HOME LOAN BANKS.—A Federal reserve 
bank or Federal Home Loan Bank that has a 
legal interest in the collateral for a loan or an-
other financial service provided to a depository 
institution that provides a financial service to a 
cannabis-related legitimate business or service 
provider, or to an owner or operator of real es-
tate or equipment that is leased or sold to a 
cannabis-related legitimate business or service 
provider, shall not be subject to criminal, civil, 
or administrative forfeiture of that legal inter-
est pursuant to any Federal law for providing 
such loan or other financial service. 
(e) RULES OF CONSTRUCTION.— 
(1) NO REQUIREMENT TO PROVIDE FINANCIAL 
SERVICES.—Nothing in this section shall require a 
depository institution, entity performing a financial 
service for or in association with a depository insti-
tution, or insurer to provide financial services to a 
cannabis-related legitimate business, service pro-
vider, or any other business. 
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(2) GENERAL
EXAMINATION, 
SUPERVISORY, 
AND ENFORCEMENT AUTHORITY.—Nothing in this 
section may be construed in any way as limiting or 
otherwise restricting the general examination, super-
visory, and enforcement authority of the Federal 
banking regulators, provided that the basis for any 
supervisory or enforcement action is not the provi-
sion of financial services to a cannabis-related legiti-
mate business or service provider. 
(f) REQUIREMENTS FOR FILING SUSPICIOUS ACTIV-
ITY REPORTS.—Section 5318(g) of title 31, United States 
Code, is amended by adding at the end the following: 
‘‘(5) REQUIREMENTS FOR CANNABIS-RELATED 
LEGITIMATE BUSINESSES.— 
‘‘(A) IN GENERAL.—With respect to a fi-
nancial institution or any director, officer, em-
ployee, or agent of a financial institution that 
reports a suspicious transaction pursuant to 
this subsection, if the reason for the report re-
lates to a cannabis-related legitimate business 
or service provider, the report shall comply with 
appropriate guidance issued by the Financial 
Crimes Enforcement Network. The Secretary 
shall ensure that the guidance is consistent with 
the purpose and intent of the SAFE Banking 
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Act of 2020 and does not significantly inhibit 
the provision of financial services to a cannabis- 
related legitimate business or service provider in 
a State, political subdivision of a State, or In-
dian country that has allowed the cultivation, 
production, manufacture, transportation, dis-
play, dispensing, distribution, sale, or purchase 
of cannabis pursuant to law or regulation of 
such State, political subdivision, or Indian 
Tribe that has jurisdiction over the Indian 
country. 
‘‘(B) DEFINITIONS.—For purposes of this 
paragraph: 
‘‘(i) CANNABIS.—The term ‘cannabis’ 
has the meaning given the term ‘mari-
huana’ in section 102 of the Controlled 
Substances Act (21 U.S.C. 802). 
‘‘(ii) CANNABIS-RELATED LEGITIMATE 
BUSINESS.—The term ‘cannabis-related le-
gitimate business’ has the meaning given 
that term in subsection (n) of the SAFE 
Banking Act of 2020. 
‘‘(iii) INDIAN
COUNTRY.—The term 
‘Indian country’ has the meaning given 
that term in section 1151 of title 18. 
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‘‘(iv) INDIAN TRIBE.—The term ‘In-
dian Tribe’ has the meaning given that 
term in section 102 of the Federally Rec-
ognized Indian Tribe List Act of 1994 (25 
U.S.C. 479a). 
‘‘(v) FINANCIAL SERVICE.—The term 
‘financial service’ has the meaning given 
that term in subsection (n) of the SAFE 
Banking Act of 2020. 
‘‘(vi) SERVICE PROVIDER.—The term 
‘service provider’ has the meaning given 
that term in subsection (n) of the SAFE 
Banking Act of 2020. 
‘‘(vii) 
STATE.—The 
term 
‘State’ 
means each of the several States, the Dis-
trict of Columbia, Puerto Rico, and any 
territory or possession of the United 
States.’’. 
(g) GUIDANCE AND EXAMINATION PROCEDURES.— 
Not later than 180 days after the date of enactment of 
this Act, the Financial Institutions Examination Council 
shall develop uniform guidance and examination proce-
dures for depository institutions that provide financial 
services to cannabis-related legitimate businesses and 
service providers. 
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(h) ANNUAL DIVERSITY AND INCLUSION REPORT.— 
The Federal banking regulators shall issue an annual re-
port to Congress containing— 
(1) information and data on the availability of 
access to financial services for minority-owned and 
women-owned cannabis-related legitimate businesses; 
and 
(2) any regulatory or legislative recommenda-
tions for expanding access to financial services for 
minority-owned and women-owned cannabis-related 
legitimate businesses. 
(i) GAO STUDY ON DIVERSITY AND INCLUSION.— 
(1) STUDY.—The Comptroller General of the 
United States shall carry out a study on the barriers 
to marketplace entry, including in the licensing proc-
ess, and the access to financial services for potential 
and existing minority-owned and women-owned can-
nabis-related legitimate businesses. 
(2) REPORT.—The Comptroller General shall 
issue a report to the Congress— 
(A) containing all findings and determina-
tions made in carrying out the study required 
under paragraph (1); and 
(B) containing any regulatory or legislative 
recommendations for removing barriers to mar-
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ketplace entry, including in the licensing proc-
ess, and expanding access to financial services 
for potential and existing minority-owned and 
women-owned cannabis-related legitimate busi-
nesses. 
(j) GAO STUDY ON EFFECTIVENESS OF CERTAIN 
REPORTS ON FINDING CERTAIN PERSONS.—Not later 
than 2 years after the date of the enactment of this Act, 
the Comptroller General of the United States shall carry 
out a study on the effectiveness of reports on suspicious 
transactions filed pursuant to section 5318(g) of title 31, 
United States Code, at finding individuals or organiza-
tions suspected or known to be engaged with transnational 
criminal organizations and whether any such engagement 
exists in a State, political subdivision, or Indian Tribe that 
has jurisdiction over Indian country that allows the cul-
tivation, production, manufacture, sale, transportation, 
display, dispensing, distribution, or purchase of cannabis. 
The study shall examine reports on suspicious trans-
actions as follows: 
(1) During the period of 2014 until the date of 
the enactment of this Act, reports relating to mari-
juana-related businesses. 
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(2) During the 1-year period after date of the 
enactment of this Act, reports relating to cannabis- 
related legitimate businesses. 
(k) BANKING SERVICES FOR HEMP BUSINESSES.— 
(1) FINDINGS.—The Congress finds that— 
(A) the Agriculture Improvement Act of 
2018 (Public Law 115–334) legalized hemp by 
removing it from the definition of ‘‘marihuana’’ 
under the Controlled Substances Act; 
(B) despite the legalization of hemp, some 
hemp businesses (including producers, manufac-
turers, and retailers) continue to have difficulty 
gaining access to banking products and serv-
ices; and 
(C) businesses involved in the sale of 
hemp-derived cannabidiol (‘‘CBD’’) products 
are particularly affected, due to confusion about 
their legal status. 
(2) FEDERAL
BANKING
REGULATOR
HEMP 
BANKING GUIDANCE.—Not later than the end of the 
90-day period beginning on the date of enactment of 
this Act, the Federal banking regulators shall jointly 
issue guidance to financial institutions— 
(A) confirming the legality of hemp, hemp- 
derived CBD products, and other hemp-derived 
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cannabinoid products, and the legality of engag-
ing in financial services with businesses selling 
hemp, hemp-derived CBD products, and other 
hemp-derived cannabinoid products, after the 
enactment of the Agriculture Improvement Act 
of 2018; and 
(B) to provide recommended best practices 
for financial institutions to follow when pro-
viding financial services and merchant proc-
essing services to businesses involved in the sale 
of hemp, hemp-derived CBD products, and 
other hemp-derived cannabinoid products. 
(3) FINANCIAL INSTITUTION DEFINED.—In this 
section, the term ‘‘financial institution’’ means any 
person providing financial services. 
(l) APPLICATION OF SAFE HARBORS TO HEMP AND 
CBD PRODUCTS.— 
(1) IN GENERAL.—Except as provided under 
paragraph (2), the provisions of this section (other 
than subsections (f) and (j)) shall apply to hemp (in-
cluding hemp-derived cannabidiol and other hemp- 
derived cannabinoid products) in the same manner 
as such provisions apply to cannabis. 
(2) RULE OF APPLICATION.—In applying the 
provisions of this section described under paragraph 
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(1) to hemp, the definition of ‘‘cannabis-related le-
gitimate business’’ shall be treated as excluding any 
requirement to engage in activity pursuant to the 
law of a State or political subdivision thereof. 
(3) HEMP DEFINED.—In this subsection, the 
term ‘‘hemp’’ has the meaning given that term 
under section 297A of the Agricultural Marketing 
Act of 1946 (7 U.S.C. 1639o). 
(m) REQUIREMENTS FOR DEPOSIT ACCOUNT TERMI-
NATION REQUESTS AND ORDERS.— 
(1) TERMINATION REQUESTS OR ORDERS MUST 
BE VALID.— 
(A) IN GENERAL.—An appropriate Federal 
banking agency may not formally or informally 
request or order a depository institution to ter-
minate a specific customer account or group of 
customer accounts or to otherwise restrict or 
discourage a depository institution from enter-
ing into or maintaining a banking relationship 
with a specific customer or group of customers 
unless— 
(i) the agency has a valid reason for 
such request or order; and 
(ii) such reason is not based solely on 
reputation risk. 
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(B) TREATMENT OF NATIONAL SECURITY 
THREATS.—If an appropriate Federal banking 
agency believes a specific customer or group of 
customers is, or is acting as a conduit for, an 
entity which— 
(i) poses a threat to national security; 
(ii) is involved in terrorist financing; 
(iii) is an agency of the Government 
of Iran, North Korea, Syria, or any coun-
try listed from time to time on the State 
Sponsors of Terrorism list; 
(iv) is located in, or is subject to the 
jurisdiction of, any country specified in 
clause (iii); or 
(v) does business with any entity de-
scribed in clause (iii) or (iv), unless the ap-
propriate Federal banking agency deter-
mines that the customer or group of cus-
tomers has used due diligence to avoid 
doing business with any entity described in 
clause (iii) or (iv), 
such belief shall satisfy the requirement under 
subparagraph (A). 
(2) NOTICE REQUIREMENT.— 
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(A) IN GENERAL.—If an appropriate Fed-
eral banking agency formally or informally re-
quests or orders a depository institution to ter-
minate a specific customer account or a group 
of customer accounts, the agency shall— 
(i) provide such request or order to 
the institution in writing; and 
(ii) accompany such request or order 
with a written justification for why such 
termination is needed, including any spe-
cific laws or regulations the agency believes 
are being violated by the customer or 
group of customers, if any. 
(B) 
JUSTIFICATION
REQUIREMENT.—A 
justification 
described 
under 
subparagraph 
(A)(ii) may not be based solely on the reputa-
tion risk to the depository institution. 
(3) CUSTOMER NOTICE.— 
(A) NOTICE
REQUIRED.—Except as pro-
vided under subparagraph (B) or as otherwise 
prohibited from being disclosed by law, if an ap-
propriate Federal banking agency orders a de-
pository institution to terminate a specific cus-
tomer account or a group of customer accounts, 
the depository institution shall inform the spe-
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cific customer or group of customers of the jus-
tification for the customer’s account termi-
nation described under paragraph (2). 
(B) NOTICE PROHIBITED.— 
(i) NOTICE PROHIBITED IN CASES OF 
NATIONAL
SECURITY.—If an appropriate 
Federal banking agency requests or orders 
a depository institution to terminate a spe-
cific customer account or a group of cus-
tomer accounts based on a belief that the 
customer or customers pose a threat to na-
tional security, or are otherwise described 
under subsection (a)(2), neither the deposi-
tory institution nor the appropriate Fed-
eral banking agency may inform the cus-
tomer or customers of the justification for 
the customer’s account termination. 
(ii) NOTICE
PROHIBITED
IN
OTHER 
CASES.—If an appropriate Federal banking 
agency determines that the notice required 
under subparagraph (A) may interfere 
with an authorized criminal investigation, 
neither the depository institution nor the 
appropriate Federal banking agency may 
inform the specific customer or group of 
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customers of the justification for the cus-
tomer’s account termination. 
(4) REPORTING
REQUIREMENT.—Each appro-
priate Federal banking agency shall issue an annual 
report to the Congress stating— 
(A) the aggregate number of specific cus-
tomer accounts that the agency requested or or-
dered a depository institution to terminate dur-
ing the previous year; and 
(B) the legal authority on which the agen-
cy relied in making such requests and orders 
and the frequency on which the agency relied 
on each such authority. 
(5) DEFINITIONS.—For purposes of this sub-
section: 
(A) 
APPROPRIATE
FEDERAL
BANKING 
AGENCY.—The 
term 
‘‘appropriate 
Federal 
banking agency’’ means— 
(i) the appropriate Federal banking 
agency, as defined under section 3 of the 
Federal Deposit Insurance Act (12 U.S.C. 
1813); and 
(ii) the National Credit Union Admin-
istration, in the case of an insured credit 
union. 
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(B) DEPOSITORY INSTITUTION.—The term 
‘‘depository institution’’ means— 
(i) a depository institution, as defined 
under section 3 of the Federal Deposit In-
surance Act (12 U.S.C. 1813); and 
(ii) an insured credit union. 
(n) DEFINITIONS.—In this Act: 
(1) BUSINESS
OF
INSURANCE.—The term 
‘‘business of insurance’’ has the meaning given such 
term in section 1002 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (12 U.S.C. 
5481). 
(2) CANNABIS.—The term ‘‘cannabis’’ has the 
meaning given the term ‘‘marihuana’’ in section 102 
of the Controlled Substances Act (21 U.S.C. 802). 
(3) CANNABIS PRODUCT.—The term ‘‘cannabis 
product’’ means any article which contains cannabis, 
including an article which is a concentrate, an edi-
ble, a tincture, a cannabis-infused product, or a top-
ical. 
(4) CANNABIS-RELATED
LEGITIMATE
BUSI-
NESS.—The term ‘‘cannabis-related legitimate busi-
ness’’ means a manufacturer, producer, or any per-
son or company that— 
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(A) engages in any activity described in 
subparagraph (B) pursuant to a law established 
by a State or a political subdivision of a State, 
as determined by such State or political subdivi-
sion; and 
(B) participates in any business or orga-
nized activity that involves handling cannabis or 
cannabis products, including cultivating, pro-
ducing, manufacturing, selling, transporting, 
displaying, dispensing, distributing, or pur-
chasing cannabis or cannabis products. 
(5) DEPOSITORY INSTITUTION.—The term ‘‘de-
pository institution’’ means— 
(A) a depository institution as defined in 
section 3(c) of the Federal Deposit Insurance 
Act (12 U.S.C. 1813(c)); 
(B) a Federal credit union as defined in 
section 101 of the Federal Credit Union Act 
(12 U.S.C. 1752); or 
(C) a State credit union as defined in sec-
tion 101 of the Federal Credit Union Act (12 
U.S.C. 1752). 
(6) 
FEDERAL
BANKING
REGULATOR.—The 
term ‘‘Federal banking regulator’’ means each of the 
Board of Governors of the Federal Reserve System, 
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the Bureau of Consumer Financial Protection, the 
Federal Deposit Insurance Corporation, the Federal 
Housing Finance Agency, the Financial Crimes En-
forcement Network, the Office of Foreign Asset 
Control, the Office of the Comptroller of the Cur-
rency, the National Credit Union Administration, 
the Department of the Treasury, or any Federal 
agency or department that regulates banking or fi-
nancial services, as determined by the Secretary of 
the Treasury. 
(7) FINANCIAL SERVICE.—The term ‘‘financial 
service’’— 
(A) means a financial product or service, 
as defined in section 1002 of the Dodd-Frank 
Wall Street Reform and Consumer Protection 
Act (12 U.S.C. 5481); 
(B) includes the business of insurance; 
(C) includes, whether performed directly or 
indirectly, the authorizing, processing, clearing, 
settling, billing, transferring for deposit, trans-
mitting, delivering, instructing to be delivered, 
reconciling, collecting, or otherwise effectuating 
or facilitating of payments or funds, where such 
payments or funds are made or transferred by 
any means, including by the use of credit cards, 
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debit cards, other payment cards, or other ac-
cess devices, accounts, original or substitute 
checks, or electronic funds transfers; 
(D) includes acting as a money transmit-
ting business which directly or indirectly makes 
use of a depository institution in connection 
with effectuating or facilitating a payment for 
a cannabis-related legitimate business or service 
provider in compliance with section 5330 of 
title 31, United States Code, and any applicable 
State law; and 
(E) includes acting as an armored car 
service for processing and depositing with a de-
pository institution or a Federal reserve bank 
with respect to any monetary instruments (as 
defined under section 1956(c)(5) of title 18, 
United States Code. 
(8) INDIAN COUNTRY.—The term ‘‘Indian coun-
try’’ has the meaning given that term in section 
1151 of title 18. 
(9) INDIAN TRIBE.—The term ‘‘Indian Tribe’’ 
has the meaning given that term in section 102 of 
the Federally Recognized Indian Tribe List Act of 
1994 (25 U.S.C. 479a). 
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(10) INSURER.—The term ‘‘insurer’’ has the 
meaning given that term under section 313(r) of 
title 31, United States Code. 
(11) MANUFACTURER.—The term ‘‘manufac-
turer’’ means a person who manufactures, com-
pounds, converts, processes, prepares, or packages 
cannabis or cannabis products. 
(12) PRODUCER.—The term ‘‘producer’’ means 
a person who plants, cultivates, harvests, or in any 
way facilitates the natural growth of cannabis. 
(13) SERVICE PROVIDER.—The term ‘‘service 
provider’’— 
(A) means a business, organization, or 
other person that— 
(i) sells goods or services to a can-
nabis-related legitimate business; or 
(ii) provides any business services, in-
cluding the sale or lease of real or any 
other property, legal or other licensed serv-
ices, or any other ancillary service, relating 
to cannabis; and 
(B) does not include a business, organiza-
tion, or other person that participates in any 
business or organized activity that involves han-
dling cannabis or cannabis products, including 
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cultivating, producing, manufacturing, selling, 
transporting, displaying, dispensing, distrib-
uting, or purchasing cannabis or cannabis prod-
ucts. 
(14) STATE.—The term ‘‘State’’ means each of 
the several States, the District of Columbia, Puerto 
Rico, and any territory or possession of the United 
States. 
(o) DISCRETIONARY
SURPLUS
FUNDS.—Section 
7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 
289(a)(3)(A)) is amended by striking ‘‘$6,825,000,000’’ 
and inserting ‘‘$6,821,000,000’’. 
TITLE VII—EMPOWERING COM-
MUNITY FINANCIAL INSTITU-
TIONS 
SEC. 110701. COMMUNITY DEVELOPMENT FINANCIAL INSTI-
TUTIONS FUND. 
(a) IN GENERAL.—There is authorized to be appro-
priated to the Community Development Financial Institu-
tions Fund $2,000,000,000 for fiscal year 2020, for pro-
viding financial assistance and technical assistance under 
subparagraphs (A) and (B) of section 108(a)(1) of the 
Community Development Banking and Financial Institu-
tions Act of 1994 (12 U.S.C. 4707(a)(1)), except that sub-
sections (d) and (e) of such section 108 shall not apply 
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to the provision of such assistance, for the Bank Enter-
prise Award program, and for financial assistance, tech-
nical assistance, training, and outreach programs designed 
to benefit Native American, Native Hawaiian, and Alaska 
Native communities and provided primarily through quali-
fied community development lender organizations with ex-
perience and expertise in community development banking 
and lending in Indian country, Native American organiza-
tions, Tribes and Tribal organizations, and other suitable 
providers. Of the amount appropriated pursuant to this 
heading, not less than $800,000,000 shall be for providing 
financial assistance, technical assistance, awards, training, 
and outreach programs described above to recipients that 
are minority lending institutions. 
(b) DEFINITIONS.—For purposes of this section: 
(1) MINORITY
LENDING
INSTITUTION.—The 
term ‘‘minority lending institution’’ means any de-
pository institution, loan fund, or other financial in-
stitution that— 
(A) if a privately-owned institution, 51 per-
cent is owned by one or more socially and eco-
nomically disadvantaged individuals; 
(B) if publicly-owned, 51 percent of the 
stock is owned by one or more socially and eco-
nomically disadvantaged individuals; and 
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(C) in the case of a mutual institution, 
where the majority of the Board of Directors, 
account holders, and the community which it 
services is predominantly minority. 
(2) MINORITY.—The term ‘‘minority’’ means 
any black American, Native American, Hispanic 
American, or Asian American. 
SEC. 110702. ENSURING DIVERSITY IN COMMUNITY BANK-
ING. 
(a) SHORT TITLE.—This section may be cited as the 
‘‘Ensuring Diversity in Community Banking Act of 
2020’’. 
(b) COMMUNITY DEVELOPMENT FINANCIAL INSTI-
TUTION.—In this section, the term ‘‘community develop-
ment financial institution’’ has the meaning given under 
section 103 of the Riegle Community Development and 
Regulatory Improvement Act of 1994 (12 U.S.C. 4702). 
(c) MINORITY DEPOSITORY INSTITUTION.—In this 
section, the term ‘‘minority depository institution’’ has the 
meaning given under section 308 of the Financial Institu-
tions Reform, Recovery, and Enforcement Act of 1989 (12 
U.S.C. 1463 note), as amended by this section. 
(d) INCLUSION OF WOMEN’S BANKS IN THE DEFINI-
TION OF MINORITY DEPOSITORY INSTITUTION.—Section 
308(b)(1) of the Financial Institutions Reform, Recovery, 
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and Enforcement Act of 1989 (12 U.S.C. 1463 note) is 
amended— 
(1) by redesignating subparagraphs (A), (B), 
and (C) as clauses (i), (ii), and (iii), respectively; 
(2) by striking ‘‘means any’’ and inserting the 
following: ‘‘means— 
‘‘(A) any’’; and 
(3) in clause (iii) (as so redesignated), by strik-
ing the period at the end and inserting ‘‘; or’’; and 
(4) by inserting at the end the following new 
subparagraph: 
‘‘(B) any bank described in clause (i), (ii), 
or (iii) of section 19(b)(1)(A) of the Federal 
Reserve Act— 
‘‘(i) more than 50 percent of the out-
standing shares of which are held by 1 or 
more women; and 
‘‘(ii) the majority of the directors on 
the board of directors of which are 
women.’’. 
(e) ESTABLISHMENT OF IMPACT BANK DESIGNA-
TION.— 
(1) IN
GENERAL.—Each appropriate Federal 
banking agency shall establish a program under 
which a depository institution with total consolidated 
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assets of less than $10,000,000,000 may elect to be 
designated as an impact bank if the total dollar 
value of the loans extended by such depository insti-
tution to low-income borrowers is greater than or 
equal to 50 percent of the assets of such bank. 
(2) DESIGNATION.—Based on data obtained 
through examinations, an appropriate Federal bank-
ing agency shall submit a notification to a depository 
institution stating that the depository institution 
qualifies for designation as an impact bank. 
(3) APPLICATION.—A depository institution 
that does not receive a notification described in 
paragraph (2) may submit an application to the ap-
propriate Federal banking agency demonstrating 
that the depository institution qualifies for designa-
tion as an impact bank. 
(4) ADDITIONAL DATA OR OVERSIGHT.—A de-
pository institution is not required to submit addi-
tional data to an appropriate Federal banking agen-
cy or be subject to additional oversight from such an 
agency if such data or oversight is related specifi-
cally and solely for consideration for a designation 
as an impact bank. 
(5) REMOVAL OF DESIGNATION.—If an appro-
priate Federal banking agency determines that a de-
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pository institution designated as an impact bank no 
longer meets the criteria for such designation, the 
appropriate Federal banking agency shall rescind 
the designation and notify the depository institution 
of such rescission. 
(6) RECONSIDERATION
OF
DESIGNATION; AP-
PEALS.—A depository institution may— 
(A) submit to the appropriate Federal 
banking agency a request to reconsider a deter-
mination that such depository institution no 
longer meets the criteria for the designation; or 
(B) file an appeal in accordance with pro-
cedures established by the appropriate Federal 
banking agency. 
(7) RULEMAKING.—Not later than 1 year after 
the date of the enactment of this Act, the appro-
priate Federal banking agencies shall jointly issue 
rules to carry out the requirements of this para-
graph, including by providing a definition of a low- 
income borrower. 
(8) REPORTS.—Each appropriate Federal bank-
ing agency shall submit an annual report to the 
Congress containing a description of actions taken to 
carry out this paragraph. 
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(9) FEDERAL DEPOSIT INSURANCE ACT DEFINI-
TIONS.—In this subsection, the terms ‘‘depository 
institution’’ and ‘‘appropriate Federal banking agen-
cy’’ have the meanings given such terms, respec-
tively, in section 3 of the Federal Deposit Insurance 
Act (12 U.S.C. 1813). 
(f) MINORITY DEPOSITORY INSTITUTIONS ADVISORY 
COMMITTEES.— 
(1) ESTABLISHMENT.—Each covered regulator 
shall establish an advisory committee to be called the 
‘‘Minority Depository Institutions Advisory Com-
mittee’’. 
(2) DUTIES.—Each Minority Depository Insti-
tutions Advisory Committee shall provide advice to 
the respective covered regulator on meeting the goals 
established by section 308 of the Financial Institu-
tions Reform, Recovery, and Enforcement Act of 
1989 (12 U.S.C. 1463 note) to preserve the present 
number of covered minority institutions, preserve the 
minority character of minority-owned institutions in 
cases involving mergers or acquisitions, provide tech-
nical assistance, and encourage the creation of new 
covered minority institutions. The scope of the work 
of each such Minority Depository Institutions Advi-
sory Committee shall include an assessment of the 
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current condition of covered minority institutions, 
what regulatory changes or other steps the respec-
tive agencies may be able to take to fulfill the re-
quirements of such section 308, and other issues of 
concern to minority depository institutions. 
(3) MEMBERSHIP.— 
(A) IN GENERAL.—Each Minority Deposi-
tory Institutions Advisory Committee shall con-
sist of no more than 10 members, who— 
(i) shall serve for one two-year term; 
(ii) shall serve as a representative of 
a depository institution or an insured cred-
it union with respect to which the respec-
tive covered regulator is the covered regu-
lator of such depository institution or in-
sured credit union; and 
(iii) shall not receive pay by reason of 
their service on the advisory committee, 
but may receive travel or transportation 
expenses in accordance with section 5703 
of title 5, United States Code. 
(B) DIVERSITY.—To the extent prac-
ticable, each covered regulator shall ensure that 
the members of Minority Depository Institu-
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defined under section 29(i)(2) of the Federal Deposit In-
surance Act (12 U.S.C. 1831f(i)(2)).’’; and 
(B) in subsection (b), as amended by sub-
section (f)(7), by adding at the end the fol-
lowing new paragraph: 
‘‘(4) IMPACT BANK.—The term ‘impact bank’ 
means a depository institution designated by an ap-
propriate Federal banking agency pursuant to sub-
section (e) of the Ensuring Diversity in Community 
Banking Act of 2020.’’. 
(2) TECHNICAL AMENDMENTS.—Section 308 of 
the Financial Institutions Reform, Recovery, and 
Enforcement Act of 1989 (12 U.S.C. 1463 note) is 
amended— 
(A) in the matter preceding paragraph (1), 
by striking ‘‘section—’’ and inserting ‘‘sec-
tion:’’; and 
(B) in the paragraph heading for para-
graph (1), by striking ‘‘FINANCIAL’’ and insert-
ing ‘‘DEPOSITORY’’. 
(h) MINORITY BANK DEPOSIT PROGRAM.— 
(1) IN GENERAL.—Section 1204 of the Finan-
cial Institutions Reform, Recovery, and Enforcement 
Act of 1989 (12 U.S.C. 1811 note) is amended to 
read as follows: 
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‘‘SEC. 1204. EXPANSION OF USE OF MINORITY BANKS AND 
MINORITY CREDIT UNIONS. 
‘‘(a) MINORITY BANK DEPOSIT PROGRAM.— 
‘‘(1) ESTABLISHMENT.—There is established a 
program to be known as the ‘Minority Bank Deposit 
Program’ to expand the use of minority banks and 
minority credit unions. 
‘‘(2) ADMINISTRATION.—The Secretary of the 
Treasury, acting through the Fiscal Service, shall— 
‘‘(A) on application by a depository institu-
tion or credit union, certify whether such depos-
itory institution or credit union is a minority 
bank or minority credit union; 
‘‘(B) maintain and publish a list of all de-
pository institutions and credit unions that have 
been certified pursuant to subparagraph (A); 
and 
‘‘(C) periodically distribute the list de-
scribed in subparagraph (B) to— 
‘‘(i) all Federal departments and 
agencies; 
‘‘(ii) interested State and local govern-
ments; and 
‘‘(iii) interested private sector compa-
nies. 
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‘‘(3) INCLUSION
OF
CERTAIN
ENTITIES
ON 
LIST.—A depository institution or credit union that, 
on the date of the enactment of this section, has a 
current certification from the Secretary of the 
Treasury stating that such depository institution or 
credit union is a minority bank or minority credit 
union shall be included on the list described under 
paragraph (2)(B). 
‘‘(b) EXPANDED USE AMONG FEDERAL DEPART-
MENTS AND AGENCIES.— 
‘‘(1) IN GENERAL.—Not later than 1 year after 
the establishment of the program described in sub-
section (a), the head of each Federal department or 
agency shall develop and implement standards and 
procedures to ensure, to the maximum extent pos-
sible as permitted by law and consistent with prin-
ciples of sound financial management, the use of mi-
nority banks and minority credit unions to hold the 
deposits of each such department or agency. 
‘‘(2) REPORT TO CONGRESS.—Not later than 2 
years after the establishment of the program de-
scribed in subsection (a), and annually thereafter, 
the head of each Federal department or agency shall 
submit to Congress a report on the actions taken to 
increase the use of minority banks and minority 
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credit unions hold the deposits of each such depart-
ment or agency. 
‘‘(c) DEFINITIONS.—For purposes of this section: 
‘‘(1) CREDIT UNION.—The term ‘credit union’ 
has the meaning given the term ‘insured credit 
union’ in section 101 of the Federal Credit Union 
Act (12 U.S.C. 1752). 
‘‘(2) DEPOSITORY INSTITUTION.—The term ‘de-
pository institution’ has the meaning given in section 
3 of the Federal Deposit Insurance Act (12 U.S.C. 
1813). 
‘‘(3) MINORITY.—The term ‘minority’ means 
any Black American, Native American, Hispanic 
American, or Asian American. 
‘‘(4) MINORITY
BANK.—The term ‘minority 
bank’ means a minority depository institution as de-
fined in section 308 of this Act. 
‘‘(5) MINORITY CREDIT UNION.—The term ‘mi-
nority credit union’ means any credit union for 
which more than 50 percent of the membership (in-
cluding board members) of such credit union are mi-
nority individuals, as determined by the National 
Credit Union Administration pursuant to section 
308 of this Act.’’. 
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(2) 
CONFORMING
AMENDMENTS.—The 
fol-
lowing 
provisions 
are 
amended 
by 
striking 
‘‘1204(c)(3)’’ and inserting ‘‘1204(c)’’: 
(A) Section 808(b)(3) of the Community 
Reinvestment 
Act 
of 
1977 
(12 
U.S.C. 
2907(b)(3)). 
(B) Section 40(g)(1)(B) of the Federal De-
posit 
Insurance 
Act 
(12 
U.S.C. 
1831q(g)(1)(B)). 
(C) Section 704B(h)(4) of the Equal Cred-
it Opportunity Act (15 U.S.C. 1691c–2(h)(4)). 
(i) DIVERSITY REPORT AND BEST PRACTICES.— 
(1) ANNUAL REPORT.—Each covered regulator 
shall submit to Congress an annual report on diver-
sity including the following: 
(A) Data, based on voluntary self-identi-
fication, on the racial, ethnic, and gender com-
position of the examiners of each covered regu-
lator, disaggregated by length of time served as 
an examiner. 
(B) The status of any examiners of cov-
ered regulators, based on voluntary self-identi-
fication, as a veteran. 
(C) Whether any covered regulator, as of 
the date on which the report required under 
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this section is submitted, has adopted a policy, 
plan, or strategy to promote racial, ethnic, and 
gender diversity among examiners of the cov-
ered regulator. 
(D) Whether any special training is devel-
oped and provided for examiners related specifi-
cally to working with banks that serve commu-
nities that are predominantly minorities, low in-
come, or rural, and the key focus of such train-
ing. 
(2) BEST PRACTICES.—Each Office of Minority 
and Women Inclusion of a covered regulator shall 
develop, provide to the head of the covered regulator, 
and make publicly available best practices— 
(A) for increasing the diversity of can-
didates applying for examiner positions, includ-
ing through outreach efforts to recruit diverse 
candidate to apply for entry-level examiner posi-
tions; and 
(B) for retaining and providing fair consid-
eration for promotions within the examiner 
staff for purposes of achieving diversity among 
examiners. 
(3) COVERED REGULATOR DEFINED.—In this 
subsection, the term ‘‘covered regulator’’ means the 
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Comptroller of the Currency, the Board of Gov-
ernors of the Federal Reserve System, the Federal 
Deposit Insurance Corporation, and the National 
Credit Union Administration. 
(j) INVESTMENTS IN MINORITY DEPOSITORY INSTI-
TUTIONS AND IMPACT BANKS.— 
(1) CONTROL
FOR
CERTAIN
INSTITUTIONS.— 
Section 7(j)(8)(B) of the Federal Deposit Insurance 
Act (12 U.S.C. 1817(j)(8)(B)) is amended to read 
as follows: 
‘‘(B) ‘control’ means the power, directly or indi-
rectly— 
‘‘(i) to direct the management or policies 
of an insured depository institution; or 
‘‘(ii)(I) with respect to an insured deposi-
tory institution, of a person to vote 25 per cen-
tum or more of any class of voting securities of 
such institution; or 
‘‘(II) with respect to an insured depository 
institution that is an impact bank (as des-
ignated pursuant to subsection (e) of the En-
suring Diversity in Community Banking Act of 
2020) or a minority depository institution (as 
defined in section 308(b) of the Financial Insti-
tutions Reform, Recovery, and Enforcement Act 
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of 1989), of an individual to vote 30 percent or 
more of any class of voting securities of such an 
impact bank or a minority depository institu-
tion.’’. 
(2) RULEMAKING.—The appropriate Federal 
banking agency (as defined in section 3 of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1813)) shall 
jointly issue rules for de novo minority depository in-
stitutions and de novo impact banks (as designated 
pursuant to subsection (e)) to allow 3 years to meet 
the capital requirements otherwise applicable to mi-
nority depository institutions and impact banks. 
(3) REPORT.—Not later than 1 year after the 
date of the enactment of this Act, the appropriate 
Federal banking agencies shall jointly submit to 
Congress a report on— 
(A) the principal causes for the low num-
ber of de novo minority depository institutions 
during the 10-year period preceding the date of 
the report; 
(B) the main challenges to the creation of 
de novo minority depository institutions and de 
novo impact banks; and 
(C) regulatory and legislative consider-
ations to promote the establishment of de novo 
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minority depository institutions and de novo im-
pact banks. 
(k) REPORT ON COVERED MENTOR-PROTEGE PRO-
GRAMS.— 
(1) REPORT.—Not later than 6 months after 
the date of the enactment of this Act and annually 
thereafter, the Secretary of the Treasury shall sub-
mit to Congress a report on participants in a cov-
ered mentor-protege program, including— 
(A) an analysis of outcomes of such pro-
gram; 
(B) the number of minority depository in-
stitutions that are eligible to participate in such 
program but do not have large financial institu-
tion mentors; and 
(C) recommendations for how to match 
such minority depository institutions with large 
financial institution mentors. 
(2) DEFINITIONS.—In this subsection: 
(A) COVERED
MENTOR-PROTEGE
PRO-
GRAM.—The term ‘‘covered mentor-protege pro-
gram’’ means a mentor-protege program estab-
lished by the Secretary of the Treasury pursu-
ant to section 45 of the Small Business Act (15 
U.S.C. 657r). 
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(B) LARGE FINANCIAL INSTITUTION.—The 
term ‘‘large financial institution’’ means any 
entity— 
(i) regulated by the Comptroller of the 
Currency, the Board of Governors of the 
Federal Reserve System, the Federal De-
posit Insurance Corporation, or the Na-
tional Credit Union Administration; and 
(ii) that has total consolidated assets 
greater than or equal to $50,000,000,000. 
(l) CUSTODIAL DEPOSIT PROGRAM FOR COVERED 
MINORITY
DEPOSITORY
INSTITUTIONS
AND
IMPACT 
BANKS.— 
(1) IN
GENERAL.—Not later than one year 
after the date of the enactment of this Act, the Sec-
retary of the Treasury shall issue rules establishing 
a custodial deposit program under which a covered 
bank may receive deposits from a qualifying account. 
(2) REQUIREMENTS.—In issuing rules under 
paragraph (1), the Secretary of the Treasury shall— 
(A) ensure each covered bank participating 
in the program established under this sub-
section— 
(i) has appropriate policies relating to 
management of assets, including measures 
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to ensure the safety and soundness of each 
such covered bank; and 
(ii) is compliant with applicable law; 
and 
(B) ensure, to the extent practicable that 
the rules do not conflict with goals described in 
section 308(a) of the Financial Institutions Re-
form, Recovery, and Enforcement Act of 1989 
(12 U.S.C. 1463 note). 
(3) REPORT.—Each quarter, the Secretary of 
the Treasury shall submit to Congress a report on 
the implementation of the program established under 
this subsection including information identifying 
participating covered banks and the total amount of 
deposits received by covered banks under the pro-
gram. 
(4) DEFINITIONS.—In this subsection: 
(A) COVERED BANK.—The term ‘‘covered 
bank’’ means— 
(i) a minority depository institution 
that is well capitalized, as defined by the 
Federal Deposit Insurance Corporation or 
the National Credit Union Administration, 
as appropriate; or 
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(ii) a depository institution designated 
pursuant to subsection (e) that is well cap-
italized, as defined by the Federal Deposit 
Insurance Corporation. 
(B) QUALIFYING
ACCOUNT.—The term 
‘‘qualifying account’’ means any account estab-
lished in the Department of the Treasury 
that— 
(i) is controlled by the Secretary; and 
(ii) is expected to maintain a balance 
greater than $200,000,000 for the fol-
lowing 24-month period. 
(m) STREAMLINED COMMUNITY DEVELOPMENT FI-
NANCIAL INSTITUTION APPLICATIONS AND REPORTING.— 
(1) APPLICATION PROCESSES.—Not later than 
12 months after the date of the enactment of this 
Act and with respect to any person having assets 
under $3,000,000,000 that submits an application 
for deposit insurance with the Federal Deposit In-
surance Corporation that could also become a com-
munity development financial institution, the Fed-
eral Deposit Insurance Corporation, in consultation 
with the Administrator of the Community Develop-
ment Financial Institutions Fund, shall— 
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(A) develop systems and procedures to 
record necessary information to allow the Ad-
ministrator to conduct preliminary analysis for 
such person to also become a community devel-
opment financial institution; and 
(B) develop procedures to streamline the 
application and annual certification processes 
and to reduce costs for such person to become, 
and maintain certification as, a community de-
velopment financial institution. 
(2) IMPLEMENTATION REPORT.—Not later than 
18 months after the date of the enactment of this 
Act, the Federal Deposit Insurance Corporation 
shall submit to Congress a report describing the sys-
tems and procedures required under paragraph (1). 
(3) ANNUAL REPORT.— 
(A) IN GENERAL.—Section 17(a)(1) of the 
Federal Deposit Insurance Act (12 U.S.C. 
1827(a)(1)) is amended— 
(i) in subparagraph (E), by striking 
‘‘and’’ at the end; 
(ii) by redesignating subparagraph 
(F) as subparagraph (G); 
(iii) by inserting after subparagraph 
(E) the following new subparagraph: 
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‘‘(F) applicants for deposit insurance that 
could also become a community development fi-
nancial institution (as defined in section 103 of 
the Riegle Community Development and Regu-
latory Improvement Act of 1994), a minority 
depository institution (as defined in section 308 
of the Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989), or an impact 
bank (as designated pursuant to subsection (e) 
of the Ensuring Diversity in Community Bank-
ing Act of 2020); and’’. 
(B) APPLICATION.—The amendment made 
by this paragraph shall apply with respect to 
the first report to be submitted after the date 
that is 2 years after the date of the enactment 
of this Act. 
(n) TASK FORCE ON LENDING TO SMALL BUSINESS 
CONCERNS.— 
(1) IN
GENERAL.—Not later than 6 months 
after the date of the enactment of this Act, the Ad-
ministrator of the Small Business Administration 
shall establish a task force to examine methods for 
improving relationships between the Small Business 
Administration and community development finan-
cial institutions, minority depository institutions, 
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and Impact Banks to increase the volume of loans 
provided by such institutions to small business con-
cerns (as defined under section 3 of the Small Busi-
ness Act (15 U.S.C. 632)). 
(2) REPORT TO CONGRESS.—Not later than 18 
months after the establishment of the task force de-
scribed in paragraph (1), the Administrator of the 
Small Business Administration shall submit to Con-
gress a report on the findings of such task force. 
(o) ASSISTANCE TO MINORITY DEPOSITORY INSTITU-
TIONS AND IMPACT BANKS.—The Secretary of the Treas-
ury shall establish a program to provide assistance to a 
minority depository institution or an impact bank (as des-
ignated pursuant to subsection (e)) to support growth and 
development of such minority depository institutions and 
impact banks, including by providing assistance with ob-
taining or converting a charter, bylaw amendments, field- 
of-membership expansion requests, and online training 
and resources. 
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TITLE VIII—PROVIDING ASSIST-
ANCE 
FOR 
STATE, 
TERRI-
TORY, TRIBAL, AND LOCAL 
GOVERNMENTS 
SEC. 110801. EMERGENCY RELIEF FOR STATE, TERRI-
TORIAL, TRIBAL, AND LOCAL GOVERNMENTS. 
(a) PURCHASE OF COVID–19 RELATED MUNICIPAL 
ISSUANCES.—Section 14(b) of the Federal Reserve Act 
(12 U.S.C. 355) is amended by adding at the end the fol-
lowing new paragraph: 
‘‘(3) UNUSUAL
AND EXIGENT CIRCUMSTANCES.— 
Under unusual and exigent circumstances, to buy any 
bills, notes, revenue bonds, and warrants issued by any 
State, county, district, political subdivision, municipality, 
or entity that is a combination of any of the several States, 
the District of Columbia, or any of the territories and pos-
sessions of the United States. In this paragraph, the term 
‘State’ means each of the several States, the District of 
Columbia, each territory and possession of the United 
States, and each federally recognized Indian Tribe.’’. 
(b) FEDERAL RESERVE AUTHORIZATION TO PUR-
CHASE COVID–19 RELATED MUNICIPAL ISSUANCES.— 
Within 7 days after the date of the enactment of this sub-
section, the Board of Governors of the Federal Reserve 
System shall modify the Municipal Liquidity Facility (es-
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tablished on April 9, 2020, pursuant to section 13(3) of 
the Federal Reserve Act (12 U.S.C. 343(3))) to— 
(1) ensure such facility is operational until De-
cember 31, 2021; 
(2) allow for the purchase of bills, notes, bonds, 
and warrants with maximum maturity of 10 years 
from the date of such purchase; 
(3) ensure that any purchases made are at an 
interest rate equal to the discount window primary 
credit interest rate most recently published on the 
Federal Reserve Statistical Release on selected inter-
est rates (daily or weekly), commonly referred to as 
the ‘‘H.15 release’’ or the ‘‘Federal funds rate’’; 
(4) ensure that an eligible issuer does not need 
to attest to an inability to secure credit elsewhere; 
and 
(5) include in the list of eligible issuers for such 
purchases— 
(A) any of the territories and possessions 
of the United States; 
(B) a political subdivision of a State with 
a population of more than 50,000 residents; 
and 
(C) an entity that is a combination of any 
of the several States, the District of Columbia, 
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or any of the territories and possessions of the 
United States. 
SEC. 110802. COMMUNITY DEVELOPMENT BLOCK GRANTS. 
(a) FUNDING AND ALLOCATIONS.— 
(1) AUTHORIZATION
OF
APPROPRIATIONS.— 
There 
is 
authorized 
to 
be 
appropriated 
$5,000,000,000 for assistance in accordance with 
this section under the community development block 
grant program under title I of the Housing and 
Community Development Act of 1974 (42 U.S.C. 
5301 et seq.), which shall remain available until 
September 30, 2023. 
(2) ALLOCATION.—Amounts made available 
pursuant to paragraph (1) shall be distributed pur-
suant to section 106 of such Act (42 U.S.C. 5306) 
to grantees and such allocations shall be made with-
in 30 days after the date of the enactment of this 
Act. 
(b) TIME LIMITATION ON EMERGENCY GRANT PAY-
MENTS.—Paragraph (4) of section 570.207(b) of the Sec-
retary’s regulations (24 C.F.R. 570.207(b)(4)) shall be 
applied with respect to grants with amounts made avail-
able pursuant to subsection (a), by substituting ‘‘121 con-
secutive months’’ for ‘‘3 consecutive months’’. 
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(c) MATCHING OF AMOUNTS USED FOR ADMINISTRA-
TIVE COSTS.—Any requirement for a State to match or 
supplement amounts expended for program administration 
of State grants under section 106(d) of the Housing and 
Community Development Act of 1974 (42 U.S.C. 
5306(d)) shall not apply with respect to amounts made 
available pursuant to subsection (a). 
(d) CAPER INFORMATION.—During the period that 
begins on the date of enactment of this Act and ends on 
the date of the termination by the Federal Emergency 
Management Agency of the emergency declared on March 
13, 2020, by the President under the Robert T. Stafford 
Disaster Relief and Emergency Assistance Act (42 U.S.C. 
4121 et seq.) relating to the Coronavirus Disease 2019 
(COVID-19) pandemic, the Secretary shall make all infor-
mation included in Consolidated Annual Performance and 
Evaluation Reports relating to assistance made available 
pursuant to this section publicly available on its website 
on a quarterly basis. 
(e) AUTHORITY; WAIVERS.—Any provisions of, and 
waivers and alternative requirements issued by the Sec-
retary pursuant to, the heading ‘‘Department of Housing 
and Urban Development—Community Planning and De-
velopment —Community Development Fund’’ in title XII 
of division B of the CARES Act (Public Law 116–136) 
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shall apply with respect to amounts made available pursu-
ant to subsection (a) of this section. 
TITLE 
IX—PROVIDING 
OVER-
SIGHT AND PROTECTING TAX-
PAYERS 
SEC. 110901. MANDATORY REPORTS TO CONGRESS. 
(a) DISCLOSURE OF TRANSACTION REPORTS.—Sec-
tion 4026(b)(1)(A)(iii) of the CARES Act (Public Law 
116–136) is amended— 
(1) in subclause (IV)— 
(A) by inserting ‘‘and the justification for 
such exercise of authority’’ after ‘‘authority’’; 
and 
(B) by striking ‘‘and’’ at the end; 
(2) in subclause (V), by striking the period at 
the end and inserting ‘‘; and’’; and 
(3) by adding at the end the following: 
‘‘(VI) the identity of each recipi-
ent of a loan or loan guarantee de-
scribed in subclause (I); 
‘‘(VII) the date and amount of 
each such loan or loan guarantee and 
the form in which each such loan or 
loan guarantee was provided; 
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‘‘(VIII) the material terms of 
each such loan or loan guarantee, in-
cluding— 
‘‘(aa) duration; 
‘‘(bb) collateral pledged and 
the value thereof; 
‘‘(cc) all interest, fees, and 
other revenue or items of value to 
be received in exchange for such 
loan or loan guarantee; 
‘‘(dd) any requirements im-
posed on the recipient with re-
spect to employee compensation, 
distribution of dividends, or any 
other corporate decision in ex-
change for the assistance; and 
‘‘(ee) the expected costs to 
the Federal Government with re-
spect to such loans or loan guar-
antees.’’. 
(b) REPORTS BY THE SECRETARY OF THE TREAS-
URY.—Section 4018 of the CARES Act (Public Law 116– 
136) is amended by adding at the end the following: 
‘‘(k) REPORTS BY THE SECRETARY.—Not later than 
7 days after the last day of each month, the Secretary 
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shall submit to the Special Inspector General, the Com-
mittee on Financial Services of the House of Representa-
tives, and the Committee on Banking, Housing, and 
Urban Affairs of the Senate a report that includes the in-
formation specified in subparagraphs (A) through (E) of 
subsection (c)(1) with respect to the making, purchase, 
management, and sale of loans, loan guarantees, and other 
investments made by the Secretary under any program es-
tablished by the Secretary under this Act.’’. 
SEC. 110902. DISCRETIONARY REPORTS TO CONGRESS. 
Section 4020(b) of the CARES Act (Public Law 116– 
136) is amended by adding at the end the following: 
‘‘(3) 
DISCRETIONARY
REPORTS
TO
CON-
GRESS.—In addition to the reports required under 
paragraph (2), the Oversight Commission may sub-
mit other reports to Congress at such time, in such 
manner, and containing such information as the 
Oversight Commission determines appropriate.’’. 
SEC. 110903. DEFINITION OF APPROPRIATE CONGRES-
SIONAL COMMITTEES. 
(a) PANDEMIC RESPONSE ACCOUNTABILITY COM-
MITTEE.—Section 15010(a)(2) of the CARES Act (Public 
Law 116–136) is amended— 
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(1) 
by 
redesignating 
subparagraphs 
(B) 
through (D) as subparagraphs (D) through (F), re-
spectively; and 
(2) by inserting after subparagraph (A) the fol-
lowing: 
‘‘(B) the Committee on Banking, Housing, 
and Urban Affairs of the Senate; 
‘‘(C) the Committee on Financial Services 
of the House of Representatives;’’. 
(b) OVERSIGHT AND AUDIT AUTHORITY.—Section 
19010(a)(1) of the CARES Act (Public Law 116–136) is 
amended— 
(1) 
by 
redesignating 
subparagraphs 
(B) 
through (G) as subparagraphs (D) through (I), re-
spectively; and 
(2) by inserting after subparagraph (A) the fol-
lowing: 
‘‘(B) the Committee on Banking, Housing, 
and Urban Affairs of the Senate; 
‘‘(C) the Committee on Financial Services 
of the House of Representatives;’’. 
SEC. 110904. REPORTING BY INSPECTORS GENERAL. 
(a) DEFINITION OF COVERED AGENCY.—In this sec-
tion, the term ‘‘covered agency’’ means— 
(1) the Department of the Treasury; 
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(2) the Federal Deposit Insurance Corporation; 
(3) the Office of the Comptroller of the Cur-
rency; 
(4) the Board of Governors of the Federal Re-
serve System; 
(5) the National Credit Union Administration; 
(6) the Bureau of Consumer Financial Protec-
tion; 
(7) the Department of Housing and Urban De-
velopment; 
(8) the Department of Agriculture, Rural Hous-
ing Service; 
(9) the Securities and Exchange Commission; 
and 
(10) the Federal Housing Finance Agency. 
(b) REPORT.—The Inspector General of each covered 
agency shall include in each semiannual report submitted 
by the Inspector General the findings of the Inspector 
General on the effectiveness of— 
(1) rulemaking by the covered agency related to 
COVID–19; and 
(2) supervision and oversight by the covered 
agency of institutions and entities that participate in 
COVID–19-related relief, funding, lending, or other 
programs of the covered agency. 
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(c) SUBMISSION.—The Inspector General of each cov-
ered agency shall submit the information required to be 
included in each semiannual report under subsection (b) 
to— 
(1) the Special Inspector General for Pandemic 
Recovery appointed under section 4018 of division A 
of the CARES Act (Public Law 116–136); 
(2) the Pandemic Response Accountability 
Committee established under section 15010 of divi-
sion B of the CARES Act (Public Law 116–136); 
and 
(3) the Congressional Oversight Commission es-
tablished under section 4020 of division A of the 
CARES Act (Public Law 116–136). 
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DIVISION L—FAMILIES, WORK-
ERS, AND COMMUNITY SUP-
PORT PROVISIONS 
TITLE 
I—AMENDMENTS 
TO 
EMERGENCY 
FAMILY 
AND 
MEDICAL LEAVE EXPANSION 
ACT AND EMERGENCY PAID 
SICK LEAVE ACT 
Subtitle A—Emergency Family and 
Medical Leave Expansion Act 
Amendments 
SEC. 120101. REFERENCES. 
Except as otherwise expressly provided, whenever in 
this subtitle an amendment or repeal is expressed in terms 
of an amendment to, or repeal of, a section or other provi-
sion, the reference shall be considered to be made to a 
section or other provision of the Family and Medical Leave 
Act of 1993 (29 U.S.C. 2601 et seq.), as amended by the 
Emergency Family and Medical Leave Expansion Act 
(Public Law 116–127). 
SEC. 120102. EMPLOYEE ELIGIBILITY AND EMPLOYER 
CLARIFICATION. 
(a) EMPLOYEE
ELIGIBILITY.—Section 101(2) is 
amended by adding at the end the following: 
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‘‘(F) 
ALTERNATIVE
ELIGIBILITY
FOR 
COVID–19 PUBLIC HEALTH EMERGENCY .—For 
the period beginning on the date of enactment 
of The Heroes Act and ending on December 31, 
2022— 
‘‘(i) subparagraph (A)(i) shall be ap-
plied by substituting ‘90 days’ for ‘12 
months’; and 
‘‘(ii) subparagraph (A)(ii) shall not 
apply.’’. 
(b) EMPLOYER CLARIFICATION.—Section 101(4) is 
amended by adding at the end the following: 
‘‘(C) 
CLARIFICATION.—Subparagraph 
(A)(i) shall not apply with respect to a public 
agency described in subparagraph (A)(iii).’’. 
SEC. 120103. EMERGENCY LEAVE EXTENSION. 
Section 102(a)(1)(F) is amended by striking ‘‘De-
cember 31, 2020’’ and inserting ‘‘December 31, 2021’’. 
SEC. 120104. EMERGENCY LEAVE DEFINITIONS. 
(a) ELIGIBLE
EMPLOYEE.—Section 110(a)(1) is 
amended in subparagraph (A), by striking ‘‘sections 
101(2)(A) and 101(2)(B)(ii)’’ and inserting ‘‘section 
101(2)’’. 
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(b) EMPLOYER THRESHOLD.—Section 110(a)(1)(B) 
is amended by striking ‘‘fewer than 500 employees’’ and 
inserting ‘‘1 or more employees’’. 
(c) PARENT.—Section 110(a)(1) is amended by add-
ing at the end the following: 
‘‘(C) PARENT.—In lieu of the definition in 
section 101(7), the term ‘parent’, with respect 
to an employee, means any of the following: 
‘‘(i) A biological, foster, or adoptive 
parent of the employee. 
‘‘(ii) A stepparent of the employee. 
‘‘(iii) A parent-in-law of the employee. 
‘‘(iv) A parent of a domestic partner 
of the employee. 
‘‘(v) A legal guardian or other person 
who stood in loco parentis to an employee 
when the employee was a child.’’. 
(d) QUALIFYING NEED RELATED
TO
A PUBLIC 
HEALTH EMERGENCY.—Section 110(a)(2)(A) is amended 
to read as follows: 
‘‘(A) QUALIFYING
NEED
RELATED
TO
A 
PUBLIC
HEALTH
EMERGENCY.—The 
term 
‘qualifying need related to a public health emer-
gency’, with respect to leave, means that the 
employee is unable to perform the functions of 
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the position of such employee due to a need for 
leave for any of the following: 
‘‘(i) To self-isolate because the em-
ployee is diagnosed with COVID–19. 
‘‘(ii) To obtain a medical diagnosis or 
care if such employee is experiencing the 
symptoms of COVID–19. 
‘‘(iii) To comply with a recommenda-
tion or order by a public official with juris-
diction or a health care provider to self iso-
late, without regard to whether such rec-
ommendation or order is specific to the 
employee, on the basis that the physical 
presence of the employee on the job would 
jeopardize the employee’s health, the 
health of other employees, or the health of 
an individual in the household of the em-
ployee because of— 
‘‘(I) the possible exposure of the 
employee to COVID–19; or 
‘‘(II) exhibition of symptoms of 
COVID–19 by the employee. 
‘‘(iv) To care for or assist a family 
member of the employee, without regard to 
whether another individual other than the 
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employee is available to care for or assist 
such family member, because— 
‘‘(I) such family member— 
‘‘(aa) is self-isolating be-
cause such family member has 
been diagnosed with COVID–19; 
or 
‘‘(bb) is experiencing symp-
toms of COVID–19 and needs to 
obtain medical diagnosis or care; 
or 
‘‘(II) a public official with juris-
diction or a health care provider 
makes a recommendation or order 
with respect to such family member, 
without regard to whether such deter-
mination is specific to such family 
member, that the presence of the fam-
ily member in the community would 
jeopardize the health of other individ-
uals in the community because of— 
‘‘(aa) the possible exposure 
of 
such 
family 
member 
to 
COVID–19; or 
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‘‘(bb) exhibition of symp-
toms of COVID–19 by such fam-
ily member. 
‘‘(v) To care for the son or daughter 
of such employee if the school or place of 
care has been closed, or the child care pro-
vider of such son or daughter is unavail-
able, due to COVID–19. 
‘‘(vi) To care for a family member 
who is incapable of self-care because of a 
mental or physical disability or is a senior 
citizen, without regard to whether another 
individual other than the employee is avail-
able to care for such family member, if the 
place of care for such family member is 
closed or the direct care provider is un-
available due to COVID–19.’’. 
(e) FAMILY MEMBER.—Section 110(a)(2) is amended 
by adding at the end the following: 
‘‘(E) FAMILY MEMBER.—The term ‘family 
member’, with respect to an employee, means 
any of the following: 
‘‘(i) A parent of the employee. 
‘‘(ii) A spouse of the employee. 
‘‘(iii) A sibling of the employee. 
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(i) any evidence submitted by the 
State attorney general, which the Secretary 
relied upon in adjudicating the claim; 
(ii) any evidence submitted by the 
State attorney general, which the Secretary 
did not rely upon in adjudicating the 
claim; 
(iii) any other evidence the Secretary 
relied upon in adjudicating the claim; 
(iv) a summary of all efforts to co-
ordinate with the State attorney general to 
ensure a fair adjudication; and 
(v) a detailed legal rationale for the 
Secretary’s adjudication. 
(D) For the duration of the adjudication of 
each claim, the Secretary shall fulfill the Sec-
retary’s obligation to— 
(i) suspend any payments owed on 
any eligible loan that is the subject of such 
claim, including a suspension of any cap-
italization of interest; 
(ii) suspend any involuntary collec-
tions on such loan, including collections 
under— 
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