H. R. 4173—754 
(B) the majority and minority leaders of the House 
of Representatives; 
(C) the majority and minority leaders of the Senate; 
(D) the Chairman and Ranking Member of the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate and of the Committee on Financial Services of the 
House of Representatives; and 
(E) any member of Congress who requests it. 
(c) PUBLICATION
OF BOARD ACTIONS.—Notwithstanding any 
other provision of law, the Board of Governors shall publish on 
its website, not later than December 1, 2010, with respect to all 
loans and other financial assistance provided during the period 
beginning on December 1, 2007 and ending on the date of enactment 
of this Act under the Asset-Backed Commercial Paper Money 
Market Mutual Fund Liquidity Facility, the Term Asset-Backed 
Securities Loan Facility, the Primary Dealer Credit Facility, the 
Commercial Paper Funding Facility, the Term Securities Lending 
Facility, the Term Auction Facility, Maiden Lane, Maiden Lane 
II, Maiden Lane III, the agency Mortgage-Backed Securities pro-
gram, foreign currency liquidity swap lines, and any other program 
created as a result of section 13(3) of the Federal Reserve Act 
(as so designated by this title)— 
(1) the identity of each business, individual, entity, or for-
eign central bank to which the Board of Governors or a Federal 
reserve bank has provided such assistance; 
(2) the type of financial assistance provided to that busi-
ness, individual, entity, or foreign central bank; 
(3) the value or amount of that financial assistance; 
(4) the date on which the financial assistance was provided; 
(5) the specific terms of any repayment expected, including 
the repayment time period, interest charges, collateral, limita-
tions on executive compensation or dividends, and other mate-
rial terms; and 
(6) the specific rationale for each such facility or program. 
TITLE 
XII—IMPROVING 
ACCESS 
TO 
MAINSTREAM 
FINANCIAL 
INSTITU-
TIONS 
SEC. 1201. SHORT TITLE. 
This title may be cited as the ‘‘Improving Access to Mainstream 
Financial Institutions Act of 2010’’. 
SEC. 1202. PURPOSE. 
The purpose of this title is to encourage initiatives for financial 
products and services that are appropriate and accessible for mil-
lions of Americans who are not fully incorporated into the financial 
mainstream. 
SEC. 1203. DEFINITIONS. 
In this title, the following definitions shall apply: 
(1) ACCOUNT.—The term ‘‘account’’ means an agreement 
between an individual and an eligible entity under which the 
individual obtains from or through the entity 1 or more banking 
products and services, and includes a deposit account, a savings
H. R. 4173—755 
account (including a money market savings account), an account 
for a closed-end loan, and other products or services, as the 
Secretary deems appropriate. 
(2) COMMUNITY
DEVELOPMENT
FINANCIAL
INSTITUTION.— 
The term ‘‘community development financial institution’’ has 
the same meaning as in section 103(5) of the Community 
Development Banking and Financial Institutions Act of 1994 
(12 U.S.C. 4702(5)). 
(3) ELIGIBLE ENTITY.—The term ‘‘eligible entity’’ means— 
(A) an organization described in section 501(c)(3) of 
the Internal Revenue Code of 1986, and exempt from tax 
under section 501(a) of such Code; 
(B) a federally insured depository institution; 
(C) a community development financial institution; 
(D) a State, local, or tribal government entity; or 
(E) a partnership or other joint venture comprised 
of 1 or more of the entities described in subparagraphs 
(A) through (D), in accordance with regulations prescribed 
by the Secretary under this title. 
(4) FEDERALLY
INSURED
DEPOSITORY
INSTITUTION.—The 
term ‘‘federally insured depository institution’’ means any 
insured depository institution (as that term is defined in section 
3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) and 
any insured credit union (as that term is defined in section 
101 of the Federal Credit Union Act (12 U.S.C. 1752)). 
SEC. 1204. EXPANDED ACCESS TO MAINSTREAM FINANCIAL INSTITU-
TIONS. 
(a) IN GENERAL.—The Secretary is authorized to establish a 
multiyear program of grants, cooperative agreements, financial 
agency agreements, and similar contracts or undertakings to pro-
mote initiatives designed— 
(1) to enable low- and moderate-income individuals to 
establish one or more accounts in a federally insured depository 
institution that are appropriate to meet the financial needs 
of such individuals; and 
(2) to improve access to the provision of accounts, on reason-
able terms, for low- and moderate-income individuals. 
(b) PROGRAM ELIGIBILITY AND ACTIVITIES.— 
(1) IN GENERAL.—The Secretary shall restrict participation 
in any program established under subsection (a) to an eligible 
entity. Subject to regulations prescribed by the Secretary under 
this title, 1 or more eligible entities may participate in 1 or 
several programs established under subsection (a). 
(2) ACCOUNT ACTIVITIES.—Subject to regulations prescribed 
by the Secretary, an eligible entity may, in participating in 
a program established under subsection (a), offer or provide 
to low- and moderate-income individuals products and services 
relating to accounts, including— 
(A) small-dollar value loans; and 
(B) financial education and counseling relating to con-
ducting transactions in and managing accounts. 
SEC. 1205. LOW-COST ALTERNATIVES TO SMALL DOLLAR LOANS. 
(a) GRANTS AUTHORIZED.—The Secretary is authorized to estab-
lish multiyear demonstration programs by means of grants, coopera-
tive agreements, financial agency agreements, and similar contracts 
or undertakings, with eligible entities to provide low-cost, small
H. R. 4173—756 
loans to consumers that will provide alternatives to more costly 
small dollar loans. 
(b) TERMS AND CONDITIONS.— 
(1) IN GENERAL.—Loans under this section shall be made 
on terms and conditions, and pursuant to lending practices, 
that are reasonable for consumers. 
(2) FINANCIAL LITERACY AND EDUCATION OPPORTUNITIES.— 
(A) IN GENERAL.—Each eligible entity awarded a grant 
under this section shall promote and take appropriate steps 
to ensure the provision of financial literacy and education 
opportunities, such as relevant counseling services, edu-
cational courses, or wealth building programs, to each con-
sumer provided with a loan pursuant to this section. 
(B) AUTHORITY
TO
EXPAND
ACCESS.—As part of the 
grants, agreements, and undertakings established under 
this section, the Secretary may implement reasonable 
measures or programs designed to expand access to finan-
cial literacy and education opportunities, including relevant 
counseling services, educational courses, or wealth building 
programs to be provided to individuals who obtain loans 
from eligible entities under this section. 
SEC. 1206. GRANTS TO ESTABLISH LOAN-LOSS RESERVE FUNDS. 
The Community Development Banking and Financial Institu-
tions Act of 1994 (12 U.S.C. 4701 et seq.) is amended by adding 
at the end the following: 
‘‘SEC. 122. GRANTS TO ESTABLISH LOAN-LOSS RESERVE FUNDS. 
‘‘(a) PURPOSES.—The purposes of this section are— 
‘‘(1) to make financial assistance available from the Fund 
in order to help community development financial institutions 
defray the costs of operating small dollar loan programs, by 
providing the amounts necessary for such institutions to estab-
lish their own loan loss reserve funds to mitigate some of 
the losses on such small dollar loan programs; and 
‘‘(2) to encourage community development financial institu-
tions to establish and maintain small dollar loan programs 
that would help give consumers access to mainstream financial 
institutions and combat high cost small dollar lending. 
‘‘(b) GRANTS.— 
‘‘(1) LOAN-LOSS RESERVE FUND GRANTS.—The Fund shall 
make grants to community development financial institutions 
or to any partnership between such community development 
financial institutions and any other federally insured depository 
institution with a primary mission to serve targeted investment 
areas, as such areas are defined under section 103(16), to 
enable such institutions or any partnership of such institutions 
to establish a loan-loss reserve fund in order to defray the 
costs of a small dollar loan program established or maintained 
by such institution. 
‘‘(2) MATCHING REQUIREMENT.—A community development 
financial institution or any partnership of institutions estab-
lished pursuant to paragraph (1) shall provide non-Federal 
matching funds in an amount equal to 50 percent of the amount 
of any grant received under this section. 
‘‘(3) USE OF FUNDS.—Any grant amounts received by a 
community development financial institution or any partner-
ship between or among such institutions under paragraph (1)—
H. R. 4173—757 
‘‘(A) may not be used by such institution to provide 
direct loans to consumers; 
‘‘(B) may be used by such institution to help recapture 
a portion or all of a defaulted loan made under the small 
dollar loan program of such institution; and 
‘‘(C) may be used to designate and utilize a fiscal 
agent for services normally provided by such an agent. 
‘‘(4) TECHNICAL ASSISTANCE GRANTS.—The Fund shall make 
technical assistance grants to community development financial 
institutions or any partnership between or among such institu-
tions to support and maintain a small dollar loan program. 
Any grant amounts received under this paragraph may be 
used for technology, staff support, and other costs associated 
with establishing a small dollar loan program. 
‘‘(c) DEFINITIONS.—For purposes of this section— 
‘‘(1) the term ‘consumer reporting agency that compiles 
and maintains files on consumers on a nationwide basis’ has 
the same meaning given such term in section 603(p) of the 
Fair Credit Reporting Act (15 U.S.C. 1681a(p)); and 
‘‘(2) the term ‘small dollar loan program’ means a loan 
program wherein a community development financial institu-
tion or any partnership between or among such institutions 
offers loans to consumers that— 
‘‘(A) are made in amounts not exceeding $2,500; 
‘‘(B) must be repaid in installments; 
‘‘(C) have no pre-payment penalty; 
‘‘(D) the institution has to report payments regarding 
the loan to at least 1 of the consumer reporting agencies 
that compiles and maintains files on consumers on a nation-
wide basis; and 
‘‘(E) meet any other affordability requirements as may 
be established by the Administrator.’’. 
SEC. 1207. PROCEDURAL PROVISIONS. 
An eligible entity desiring to participate in a program or obtain 
a grant under this title shall submit an application to the Secretary, 
in such form and containing such information as the Secretary 
may require. 
SEC. 1208. AUTHORIZATION OF APPROPRIATIONS. 
(a) AUTHORIZATION TO THE SECRETARY.—There are authorized 
to be appropriated to the Secretary, such sums as are necessary 
to both administer and fund the programs and projects authorized 
by this title, to remain available until expended. 
(b) AUTHORIZATION TO THE FUND.—There is authorized to be 
appropriated to the Fund for each fiscal year beginning in fiscal 
year 2010, an amount equal to the amount of the administrative 
costs of the Fund for the operation of the grant program established 
under this title. 
SEC. 1209. REGULATIONS. 
(a) IN GENERAL.—The Secretary is authorized to promulgate 
regulations to implement and administer the grant programs and 
undertakings authorized by this title. 
(b) REGULATORY AUTHORITY.—Regulations prescribed under 
this section may contain such classifications, differentiations, or 
other provisions, and may provide for such adjustments and excep-
tions for any class of grant programs, undertakings, or eligible