Promoting and Advancing Communities of Color Through Inclusive Lending Act
Bill: H.R.7978 | Sponsor: Rep. Waters, Maxine (D-CA)
Policy area: Finance and Financial Sector

Summary:
Promoting and Advancing Communities of Color Through Inclusive Lending Act
This bill expands the support of, and access to, community development financial institutions, minority lending intuitions, and minority depository institutions. These institutions provide financial services to economically distressed or minority communities.
The bill provides mandatory funding set-asides for assistance to minority lending institutions and establishes the Office of Minority Lending Institutions to administer these funds. The bill also establishes the Office of Diverse and Mission-Driven Community Financial Institutions to monitor and support institutions seeking certification.
Further, the bill provides for technology grants, a pilot program for establishing new institutions, and various studies and reports.



To make reforms to provide support for minority depository 
    institutions, community development financial institutions, and 
  minority lending institutions to promote and advance communities of 
        color through inclusive lending, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Promoting and Advancing Communities 
of Color Through Inclusive Lending Act''.

SEC. 2. STRENGTHENING DIVERSE AND MISSION-DRIVEN COMMUNITY FINANCIAL 
              INSTITUTIONS.

    (a) Minority Lending Institution Set-Aside in Providing 
Assistance.--
            (1) In general.--Section 108 of the Riegle Community 
        Development and Regulatory Improvement Act of 1994 (12 U.S.C. 
        4707) is amended by adding at the end the following:
    ``(i) Minority Lending Institution Set-Aside in Providing 
Assistance.--Notwithstanding any other provision of law, in providing 
any assistance to community development financial institutions, the 
Fund shall reserve 40 percent of such assistance for minority lending 
institutions.''.
            (2) Definitions.--Section 103 of the Riegle Community 
        Development and Regulatory Improvement Act of 1994 (12 U.S.C. 
        4702) is amended by adding at the end the following:
            ``(22) Minority lending institution.--The term `minority 
        lending institution' has the meaning given that term under 
        section 523(c) of division N of the Consolidated Appropriations 
        Act, 2021.''.
    (b) Office of Minority Lending Institutions.--Section 104 of the 
Riegle Community Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4703) is amended by adding at the end the following:
    ``(l) CDFI Office of Minority Lending Institutions.--There is 
established within the Fund an Office of Minority Lending Institutions, 
which shall oversee assistance provided by the Fund to minority lending 
institutions.''.
    (c) Reporting on Minority Lending Institutions.--Section 117 of the 
Riegle Community Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4716) is amended by adding at the end the following:
    ``(g) Reporting on Minority Lending Institutions.--Each report 
required under subsection (a) shall include a description of the extent 
to which assistance from the Fund are provided to minority lending 
institutions.''.
    (d) Submission of Data Relating to Diversity by Community 
Development Financial Institutions.--Section 104 of the Riegle 
Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 
4703), as amended by subsection (b), is further amended by adding at 
the end the following:
    ``(m) Submission of Data Relating to Diversity.--
            ``(1) Definitions.--In this subsection--
                    ``(A) the term `executive officer' has the meaning 
                given the term in section 230.501(f) of title 17, Code 
                of Federal Regulations, as in effect on the date of 
                enactment of this subsection; and
                    ``(B) the term `veteran' has the meaning given the 
                term in section 101 of title 38, United States Code.
            ``(2) Submission of disclosure.--Each Fund applicant and 
        recipient shall provide the following:
                    ``(A) Data, based on voluntary self-identification, 
                on the racial, ethnic, and gender composition of--
                            ``(i) the board of directors of the 
                        institution;
                            ``(ii) nominees for the board of directors 
                        of the institution; and
                            ``(iii) the executive officers of the 
                        institution.
                    ``(B) The status of any member of the board of 
                directors of the institution, any nominee for the board 
                of directors of the institution, or any executive 
                officer of the institution, based on voluntary self-
                identification, as a veteran.
                    ``(C) Whether the board of directors of the 
                institution, or any committee of that board of 
                directors, has, as of the date on which the institution 
                makes a disclosure under this paragraph, adopted any 
                policy, plan, or strategy to promote racial, ethnic, 
                and gender diversity among--
                            ``(i) the board of directors of the 
                        institution;
                            ``(ii) nominees for the board of directors 
                        of the institution; or
                            ``(iii) the executive officers of the 
                        institution.
            ``(3) Annual report.--Not later than 18 months after the 
        date of enactment of this subsection, and annually thereafter, 
        the Fund shall submit to the Committee on Banking, Housing, and 
        Urban Affairs of the Senate and the Committee on Financial 
        Services of the House of Representatives, and make publicly 
        available on the website of the Fund, a report--
                    ``(A) on the data and trends of the diversity 
                information made available pursuant to paragraph (2); 
                and
                    ``(B) containing all administrative or legislative 
                recommendations of the Fund to enhance the 
                implementation of this title or to promote diversity 
                and inclusion within community development financial 
                institutions.''.
    (e) Office of Diverse and Mission-Driven Community Financial 
Institutions.--
            (1) Establishment.--There is established within the 
        Department of the Treasury the Office of Diverse and Mission-
        Driven Community Financial Institutions.
            (2) Leadership.--The Office of Diverse and Mission-Driven 
        Community Financial Institutions shall be led by a Deputy 
        Assistant Secretary for Diverse and Mission-Driven Community 
        Financial Institutions, who shall be appointed by the Secretary 
        of the Treasury, in consultation with the Department of the 
        Treasury's Director of Office of Minority and Women Inclusion.
            (3) Functions.--The Office of Diverse and Mission-Driven 
        Community Financial Institutions, pursuant to the direction of 
        the Secretary, shall have the authority--
                    (A) to monitor and issue reports regarding--
                            (i) community development financial 
                        institutions, minority depository institutions, 
                        and minority lending institutions; and
                            (ii) the role such institutions play in the 
                        financial system of the United States, 
                        including the impact they have on providing 
                        financial access to low- and moderate-income 
                        communities, communities of color, and other 
                        underserved communities;
                    (B) to serve as a resource and Federal liaison for 
                current and prospective community development financial 
                institutions, minority depository institutions, and 
                minority lending institutions engaging with the 
                Department of the Treasury, the Community Development 
                Financial Institutions Fund (``CDFI Fund''), other 
                Federal government agencies, including by providing 
                contact information, resources, technical assistance, 
                and other support for entities wishing--
                            (i) to become certified as a community 
                        development financial institution, and maintain 
                        the certification;
                            (ii) to obtain a banking charter, deposit 
                        insurance, or otherwise carry on banking 
                        activities in a safe, sound, and responsible 
                        manner;
                            (iii) to obtain financial support through 
                        private sector deposits, investments, 
                        partnerships, and other means;
                            (iv) to expand their operations through 
                        internal growth and acquisitions;
                            (v) to develop and upgrade their 
                        technology, cybersecurity resilience, 
                        compliance systems, data reporting systems, and 
                        their capacity to support their communities, 
                        including through partnerships with third-party 
                        companies;
                            (vi) to obtain grants, awards, investments 
                        and other financial support made available 
                        through the CDFI Fund, the Board of Governors 
                        of the Federal Reserve System, the Central 
                        Liquidity Facility, the Federal Home Loan 
                        Banks, and other Federal programs;
                            (vii) to participate as a financial 
                        intermediary with respect to various Federal 
                        and State programs and agencies, including the 
                        State Small Business Credit Initiative and 
                        programs of the Small Business Administration; 
                        and
                            (viii) to participate in Financial Agent 
                        Mentor-Protege Program of the Department of the 
                        Treasury and other Federal programs designed to 
                        support private sector partnerships;
                    (C) to provide resources to the public wishing to 
                learn more about minority depository institutions, 
                community development financial institutions, and 
                minority lending institutions, including helping the 
                Secretary implement the requirements under section 5, 
                publishing reports issued by the Office on the website 
                of the Department of the Treasury and providing 
                hyperlinks to other relevant reports and materials from 
                other Federal agencies;
                    (D) to provide policy recommendations to the 
                Secretary, the CDFI Fund, other relevant Federal 
                agencies, and Congress on ways to further strengthen 
                Federal support for community development financial 
                institutions, minority depository institutions, and 
                minority lending institutions;
                    (E) to assist the Secretary in carrying out the 
                Secretary's responsibilities under section 308 of the 
                Financial Institutions Reform, Recovery, and 
                Enforcement Act of 1989 (12 U.S.C. 1463 note) to 
                preserve and promote minority depository institutions 
                in consultation with the Chairman of the Board of 
                Governors of the Federal Reserve System, the 
                Comptroller of the Currency, the Chairman of the 
                National Credit Union Administration, and the 
                Chairperson of the Board of Directors of the Federal 
                Deposit Insurance Corporation; and
                    (F) to carry out other duties of the Secretary of 
                the Treasury required by this Act and the amendments 
                made by this Act, and to perform such other related 
                duties and authorities as may be assigned by the 
                Secretary.
    (f) Strengthening Federal Efforts and Interagency Coordination To 
Promote Diverse and Mission-Driven Community Financial Institutions.--
            (1) Senior officials designated.--The Chairman of the Board 
        of Governors of the Federal Reserve System, the Comptroller of 
        the Currency, the Chairman of the National Credit Union 
        Administration, the Chairperson of the Board of Directors of 
        the Federal Deposit Insurance Corporation, and the Director of 
        the Bureau of Consumer Financial Protection shall each, in 
        consultation with their respective Director of Office of 
        Minority and Women Inclusion, designate a senior official to be 
        their respective agency's officer responsible for promoting 
        minority depository institutions, community development 
        financial institutions, and minority lending institutions, 
        including to fulfill obligations under section 308 of the 
        Financial Institutions Reform, Recovery, and Enforcement Act of 
        1989 (12 U.S.C. 1463 note) to preserve and promote minority 
        depository institutions.
            (2) Interagency working group.--The Deputy Assistant 
        Secretary for Diverse and Mission-Driven Community Financial 
        Institutions shall regularly convene meetings, no less than 
        once a quarter, of an interagency working group to be known as 
        the ``Interagency Working Group to Promote Diverse and Mission-
        Driven Community Financial Institutions'', which shall consist 
        of the senior officials designated by their respective agencies 
        under paragraph (1), along with the Director of the Community 
        Development Financial Institutions Fund and such other 
        government officials as the Deputy Assistant Secretary may 
        choose to invite, to examine and discuss the state of minority 
        depository institutions, community development financial 
        institutions, and minority lending institutions, and actions 
        the relevant agencies can take to preserve, promote, and 
        strengthen these institutions.
            (3) Annual report to congress.--Not later than 1 year after 
        the date of the enactment of this subsection, and annually 
        thereafter, the Secretary of the Treasury, the Chairman of the 
        Board of Governors of the Federal Reserve System, the 
        Comptroller of the Currency, the Chairman of the National 
        Credit Union Administration, the Chairperson of the Board of 
        Directors of the Federal Deposit Insurance Corporation, and the 
        Director of the Bureau of Consumer Financial Protection shall 
        submit a joint report to the Committee on Financial Services of 
        the House of Representatives and the Committee on Banking, 
        Housing, and Urban Affairs of the Senate regarding the work 
        that has been done the prior year to preserve, promote, and 
        strengthen community development financial institutions, 
        minority depository institutions, and minority lending 
        institutions, along with any policy recommendations on actions 
        various government agencies and Congress should take to 
        preserve, promote, and strengthen community development 
        financial institutions, minority depository institutions, and 
        minority lending institutions.

SEC. 3. CAPITAL INVESTMENTS, GRANTS, AND TECHNOLOGY SUPPORT FOR MDIS 
              AND CDFIS.

    (a) Authorization of Appropriation.--There is authorized to be 
appropriated to the Emergency Capital Investment Fund $4,000,000,000.
    (b) Conforming Amendments To Allow for Additional Purchases of 
Capital.--Section 104A of the Riegle Community Development and 
Regulatory Improvement Act of 1994 (12 U.S.C. 4703a) is amended--
            (1) in subsection (c), by striking paragraph (2); and
            (2) in subsection (e), by striking paragraph (2).
    (c) Use of Funds for CDFI Financial and Technical Assistance.--
Section 104A of the Riegle Community Development and Regulatory 
Improvement Act of 1994 (12 U.S.C. 4703a) is amended by adding at the 
end the following:
    ``(p) Use of Funds for CDFI Financial and Technical Assistance.--
The Secretary may transfer amounts in the Emergency Capital Investment 
Fund to the Fund for the purpose of providing financial and technical 
assistance grants to community development financial institutions 
certified by the Secretary.''.
    (d) Technology Grants for MDIs and CDFIs.--Section 104A of the 
Riegle Community Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4703a), as amended by subsection (c), is further amended by 
adding at the end the following:
    ``(q) Technology Grants for MDIs and CDFIs.--
            ``(1) Study and report on certain technology challenges.--
                    ``(A) Study.--The Secretary shall carry out a study 
                on the technology challenges impacting minority 
                depository institutions and community development 
                financial institutions with respect to--
                            ``(i) internal technology capabilities and 
                        capacity of the institutions to process loan 
                        applications and otherwise serve current and 
                        potential customers through the internet, 
                        mobile phone applications, and other tools;
                            ``(ii) technology capabilities and capacity 
                        of the institutions, provided in partnership 
                        with third party companies, to process loan 
                        applications and otherwise serve current and 
                        potential customers through the internet, 
                        mobile phone applications, and other tools;
                            ``(iii) cybersecurity; and
                            ``(iv) challenges and solutions related to 
                        algorithmic bias in the deployment of 
                        technology.
                    ``(B) Report.--Not later than 1 year after the date 
                of the enactment of this subsection, the Secretary 
                shall submit a report to the Committee on Financial 
                Services of the House of Representatives and the 
                Committee on Banking, Housing, and Urban Affairs of the 
                Senate that includes the results of the study required 
                under subparagraph (A).
            ``(2) Technology grant program.--
                    ``(A) Program authorized.--The Secretary shall 
                carry out a technology grant program to make grants to 
                minority depository institutions and community 
                development financial institutions to address 
                technology challenges impacting such institutions.
                    ``(B) Application.--To be eligible to be awarded a 
                grant under this paragraph, a minority depository 
                institution or community development financial 
                institution shall submit an application to the 
                Secretary at such time, in such manner, and containing 
                such information as the Secretary may require.
                    ``(C) Use of funds.--A minority depository 
                institution or community development financial 
                institution that is awarded a grant under this 
                paragraph may use the grant funds to--
                            ``(i) enhance or adopt technologies that--
                                    ``(I) shorten loan approval 
                                processes;
                                    ``(II) improve customer experience;
                                    ``(III) provide additional services 
                                to customers;
                                    ``(IV) facilitate compliance with 
                                applicable laws, regulations, and 
                                program requirements, including testing 
                                to ensure that the use of technology 
                                does not result in discrimination, and 
                                helping to satisfy data reporting 
                                requirements; and
                                    ``(V) help ensure privacy of 
                                customer records and cybersecurity 
                                resilience; or
                            ``(ii) carry out such other activities as 
                        the Secretary determines appropriate.
            ``(3) Funding.--The Secretary may use amounts in the 
        Emergency Capital Investment Fund to make grants under 
        paragraph (2), but not to exceed $250,000,000 in the 
        aggregate.''.
    (e) Pilot Program for Establishing De Novo CDFIs and MDIs.--Section 
104A of the Riegle Community Development and Regulatory Improvement Act 
of 1994 (12 U.S.C. 4703a), as amended by subsections (c) and (d), is 
further amended by adding at the end the following:
    ``(r) Pilot Program for Establishing De Novo CDFIs and MDIs.--
            ``(1) In general.--The Secretary of the Treasury, in 
        consultation with the Fund and the appropriate Federal banking 
        agencies, shall establish a pilot program to provide 
        competitive grants to a person for the purpose of providing 
        capital for such person to establish a minority depository 
        institution or a community development financial institution.
            ``(2) Application.--A person desiring a grant under this 
        subsection shall submit to the Secretary an application in such 
        form and containing such information as the Secretary 
        determines appropriate.
            ``(3) Disbursement.--Before disbursing grant amounts to a 
        person selected to receive a grant under this subsection, the 
        Secretary shall ensure that such person has received approval 
        from the appropriate Federal banking agency (or such other 
        Federal or State agency from whom approval is required) to 
        establish a minority depository institution or a community 
        development financial institution, as applicable.
            ``(4) Funding.--The Secretary may use amounts in the 
        Emergency Capital Investment Fund to make grants under 
        paragraph (2), but not to exceed $100,000,000 in the 
        aggregate.''.
    (f) Guidance for Subchapter S and Mutual Banks.--Not later than 30 
days after the date of enactment of this Act, the Board of Governors of 
the Federal Reserve System and the Secretary shall issue guidance 
regarding how Emergency Capital Investment Program investments (whether 
made before or after the date of enactment of this Act) are considered 
for purposes of various prudential requirements, including debt to 
equity, leverage ratio, and double leverage ratio requirements with 
respect to subchapter S and mutual bank recipients of such investments.

SEC. 4. SUPPORTING YOUNG ENTREPRENEURS PROGRAM.

    Section 108 of the Riegle Community Development and Regulatory 
Improvement Act of 1994 (12 U.S.C. 4707), as amended by section 
2(a)(1), is further amended by adding at the end the following:
    ``(j) Supporting Young Entrepreneurs Program.--
            ``(1) In general.--The Fund shall establish a Supporting 
        Young Entrepreneurs Program under which the Fund may provide 
        financial awards to the community development financial 
        institutions that the Fund determines have the best programs to 
        help young entrepreneurs get the start up capital needed to 
        start a small business.
            ``(2) No matching requirement.--The matching requirement 
        under subsection (e) shall not apply to awards made under this 
        subsection.
            ``(3) Funding.--In carrying out this subsection, the Fund 
        may use--
                    ``(A) amounts in the Emergency Capital Investment 
                Fund, but not to exceed $100,000,000 in the aggregate; 
                and
                    ``(B) such other funds as may be appropriated by 
                Congress to the Fund to carry out the Supporting Young 
                Entrepreneurs Program.''.

SEC. 5. MAP OF MINORITY DEPOSITORY INSTITUTIONS AND COMMUNITY 
              DEVELOPMENT FINANCIAL INSTITUTIONS.

    (a) In General.--The Secretary of the Treasury, in consultation 
with the CDFI Fund and the Federal banking agencies, shall establish an 
interactive, searchable map showing the geographic locations of the 
headquarters and branch locations of minority depository institutions 
and community development financial institutions that have been 
certified by the Secretary. Such map shall also provide a link to the 
website of each such minority depository institution and community 
development financial institution.
    (b) Definitions.--In this section:
            (1) CDFI fund.--The term ``CDFI Fund'' means the Community 
        Development Financial Institutions Fund established under 
        section 104(a) of the Riegle Community Development and 
        Regulatory Improvement Act of 1994.
            (2) Community development financial institution.--The term 
        ``community development financial institution'' has the meaning 
        given in section 103 of the Riegle Community Development and 
        Regulatory Improvement Act of 1994.
            (3) Federal banking agency.--The term ``Federal banking 
        agency''--
                    (A) has the meaning given in section 3 of the 
                Federal Deposit Insurance Act; and
                    (B) means the National Credit Union Administration.
            (4) Minority depository institution.--The term ``minority 
        depository institution'' has the meaning given in section 
        308(b) of the Financial Institutions Reform, Recovery, and 
        Enforcement Act of 1989.

SEC. 6. REPORT ON CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL 
              INSTITUTIONS.

    Section 117(a) of the Riegle Community Development and Regulatory 
Improvement Act of 1994 (12 U.S.C. 4716(a)) is amended--
            (1) by striking ``The Fund'' and inserting the following:
            ``(1) In general.--The Fund'';
            (2) by striking ``and the Congress'' and inserting ``, the 
        Congress, and the public''; and
            (3) by adding at the end the following:
            ``(2) Report on certified community development financial 
        institutions.--The annual report required under paragraph (1) 
        shall include a report on community development financial 
        institutions (`CDFIs') that have been certified by the 
        Secretary of the Treasury, including a summary with aggregate 
        data and analysis, to the fullest extent practicable, 
        regarding--
                    ``(A) a list of the types of organizations that are 
                certified as CDFIs, and the number of each type of 
                organization;
                    ``(B) the geographic location and capacity of 
                different types of certified CDFIs;
                    ``(C) the primary lines of business for different 
                types of certified CDFIs, as well as any secondary 
                lines of business;
                    ``(D) human resources and staffing information for 
                different types of certified CDFIs, including--
                    ``(E) the types of development services provided by 
                different types of certified CDFIs;
                    ``(F) the target markets of different types of 
                certified CDFIs and the amount of products and services 
                offered by CDFIs to those target markets, including--
                            ``(i) the number and amount of loans and 
                        loan guarantees made in those target markets;
                            ``(ii) the number and amount of other 
                        investments made in those target markets; and
                            ``(iii) the number and amount of 
                        development services offered in those target 
                        markets; and
                    ``(G) such other information as the Director of the 
                Fund may determine necessary to promote transparency of 
                the impact of different types of CDFIs, while carrying 
                out this report in a manner that seeks to minimize data 
                reporting requirements from certified CDFIs when 
                feasible, including utilizing information gathered from 
                other regulators under section 104(l).''.

SEC. 7. CONSULTATION AND MINIMIZATION OF DATA REQUESTS.

    Section 104 of the Riegle Community Development and Regulatory 
Improvement Act of 1994 (12 U.S.C. 4703) is amended by adding at the 
end the following:
    ``(l) Consultation and Minimization of Data Requests.--
            ``(1) In general.--In carrying out its duties, the Fund 
        shall--
                    ``(A) periodically, and no less frequent than once 
                a year, consult with the applicable Federal regulator 
                of certified CDFIs and applicants to be a certified 
                CDFI (`applicants)'; and
                    ``(B) seek to gather any relevant information on 
                certified CDFIs and applicants from the applicable 
                Federal regulator to minimize duplicative data 
                collection requests made by the Fund of certified CDFIs 
                and applicants and to expedite certification, re-
                certification, or other relevant processes administered 
                by the Fund.
            ``(2) Applicable federal regulator defined.--In this 
        subsection, the term `applicable Federal regulator' means--
                    ``(A) with respect to a certified CDFI or an 
                applicant that is regulated by both an appropriate 
                Federal banking agency and the Bureau of Consumer 
                Financial Protection, the Bureau of Consumer Financial 
                Protection;
                    ``(B) with respect to a certified CDFI or an 
                applicant that is not regulated by the Bureau of 
                Consumer Financial Protection, the appropriate Federal 
                banking agency for such applicant; or
                    ``(C) the Bureau of Consumer Financial Protection, 
                with respect to a certified CDFI or an applicant--
                            ``(i) that is not regulated by an 
                        appropriate Federal banking agency; and
                            ``(ii) that offers or provides consumer 
                        financial products or services (as defined in 
                        section 1002 of the Consumer Financial 
                        Protection Act of 2010 (12 U.S.C. 5481).''.

SEC. 8. ACCESS TO THE DISCOUNT WINDOW OF THE FEDERAL RESERVE SYSTEM FOR 
              MDIS AND CDFIS.

    The Board of Governors of the Federal Reserve System shall 
establish a process under which minority depository institutions and 
community development financial institutions may have access to the 
discount window, at the seasonal credit interest rate most recently 
published on the Federal Reserve Statistical Release on selected 
interest rates (daily or weekly).

SEC. 9. STUDY ON SECURITIZATION BY CDFIS.

    (a) In General.--The Secretary of the Treasury, in consultation 
with the Community Development Financial Institutions Fund and such 
other Federal agencies as the Secretary determines appropriate, shall 
carry out a study on--
            (1) the use of securitization by CDFIs;
            (2) any barriers to the use of securitization as a source 
        of liquidity by CDFIs; and
            (3) any authorities available to the Government to support 
        the use of securitization by CDFIs to the extent it helps serve 
        underserved communities.
    (b) Report.--Not later than the end of the 1-year period beginning 
on the date of enactment of this Act, the Secretary shall issue a 
report to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate containing--
            (1) all findings and determinations made in carrying out 
        the study required under subsection (a); and
            (2) any legislative or administrative recommendations of 
        the Secretary that would promote the responsible use of 
        securitization to help CDFIs in reaching more underserved 
        communities.
    (c) CDFI Defined.--The term ``CDFI'' has the meaning given the term 
``community development financial institution'' under section 103 of 
the Riegle Community Development and Regulatory Improvement Act of 
1994.
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