(1) To expand banking services to unbanked 
and underbanked individuals by requiring the Fed-
eral Deposit Insurance Corporation to re-assess reg-
ulations to allow non-profit community development 
financial institution banks to obtain deposit insur-
ance, while still adequately protecting the Deposit 
Insurance Fund. 
(2) To facilitate an insured depository institu-
tion structure that benefits from philanthropic dona-
tions, investment incentives from the Community 
Reinvestment Act of 1977, and Community Develop-
ment Financial Institution Fund grants. 
SEC. 2. REGULATIONS TO EASE CERTAIN RESTRICTIONS 
ON NON-PROFIT COMMUNITY DEVELOPMENT 
FINANCIAL INSTITUTION BANKS. 
(a) REGULATIONS RELATED
TO DEPOSIT INSUR-
ANCE.— 
(1) IN GENERAL.—The Federal Deposit Insur-
ance Corporation shall issue regulations— 
(A) easing the restrictive impact of regula-
tions issued pursuant to section 6 of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1816) 
(relating to the factors to be considered for de-
posit insurance) on non-profit community devel-
opment financial institution banks; and 
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(B) easing restrictions on the operation of 
non-profit community development financial in-
stitution banks insured by the Federal Deposit 
Insurance Corporation. 
(2) OTHER
FINANCIAL
INSTITUTIONS.—The 
Federal Deposit Insurance Corporation shall ensure 
that regulations issued under paragraph (1)— 
(A) will not provide an opportunity for in-
dividuals or for-profit financial institutions to 
avoid taxation or other requirements related to 
deposit insurance; and 
(B) allow charitable contributions and 
grants to non-profit community development fi-
nancial institution banks. 
(3) FAILURE TO MAINTAIN CERTIFICATION.— 
The Federal Deposit Insurance Corporation shall 
terminate the deposit insurance of a non-profit com-
munity development financial institution bank if the 
bank loses the bank’s certification as a community 
development financial institution. 
(b) DEFINITIONS.—For purposes of this Act: 
(1) COMMUNITY DEVELOPMENT FINANCIAL IN-
STITUTION.—The term ‘‘community development fi-
nancial institution’’ has the meaning given that term 
under section 103 of the Community Development 
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Banking and Financial Institutions Act of 1994 (12 
U.S.C. 4702). 
(2) DEPOSITORY INSTITUTION.—The term ‘‘de-
pository institution’’ has the meaning given such 
term in section 3 of the Federal Deposit Insurance 
Act (12 U.S.C. 1813). 
(3) INCOME DEFINITIONS.—The terms ‘‘low-in-
come’’ and ‘‘moderate-income’’ have the meaning 
given those terms, respectively, under section 25.12 
of title 12, Code of Federal Regulations. 
(4) NON-PROFIT
COMMUNITY
DEVELOPMENT 
FINANCIAL
INSTITUTION
BANK.—The term ‘‘non- 
profit community development financial institution 
bank’’ means a non-profit depository institution 
that— 
(A) is certified as a community develop-
ment financial institution by the Community 
Development Financial Institutions Fund; and 
(B) serves low-income and moderate-in-
come customers. 
Æ 
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