TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Improving Access to Mainstream 
Financial Institutions Act of 2008''.

SEC. 2. DEFINITIONS.

    In this Act, the following definitions shall apply:
            (1) Alaska native corporation.--The term ``Alaska Native 
        Corporation'' has the same meaning as the term ``Native 
        Corporation'' under section 3(m) of the Alaska Native Claims 
        Settlement Act (43 U.S.C. 1602(m)).
            (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) 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)).
            (4) Labor organization.--The term ``labor organization'' 
        means an organization--
                    (A) in which employees participate;
                    (B) which exists for the purpose, in whole or in 
                part, of dealing with employers concerning grievances, 
                labor disputes, wages, rates of pay, hours of 
                employment, or conditions of work; and
                    (C) which is described in section 501(c)(5) of the 
                Internal Revenue Code of 1986.
            (5) Native hawaiian organization.--The term ``Native 
        Hawaiian organization'' means any organization that--
                    (A) serves and represents the interests of Native 
                Hawaiians; and
                    (B) has as a primary and stated purpose, the 
                provision of services to Native Hawaiians.
            (6) Payday loan.--The term ``payday loan'' means any 
        transaction in which a small cash advance is made to a consumer 
        in exchange for--
                    (A) the personal check or share draft of the 
                consumer, in the amount of the advance plus a fee, 
                where presentment or negotiation of such check or share 
                draft is deferred by agreement of the parties until a 
                designated future date; or
                    (B) the authorization of the consumer to debit the 
                transaction account or share draft account of the 
                consumer, in the amount of the advance plus a fee, 
                where such account will be debited on or after a 
                designated future date.
            (7) Secretary.--The term ``Secretary'' means the Secretary 
        of the Treasury.
            (8) Tribal organization.--The term ``tribal organization'' 
        has the same meaning as in section 4 of the Indian Self-
        Determination and Education Assistance Act (25 U.S.C. 450b).

SEC. 3. EXPANDED ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS.

    (a) Establishment of Program.--The Secretary is authorized to award 
grants, including multi-year grants, to eligible entities to establish 
an account in a federally insured depository institution for low- and 
moderate-income individuals that currently do not have such an account.
    (b) Eligible Entities.--An entity is eligible to receive a grant 
under this section, if such an entity is--
            (1) an organization described in section 501(c)(3) of the 
        Internal Revenue Code of 1986, and is exempt from taxation 
        under section 501(a) of such Code;
            (2) a federally insured depository institution;
            (3) an agency of a State or local government;
            (4) a community development financial institution;
            (5) an Indian tribal organization;
            (6) an Alaska Native Corporation;
            (7) a Native Hawaiian organization;
            (8) a labor organization; or
            (9) a partnership comprised of 1 or more of the entities 
        described in the preceding subparagraphs.
    (c) Evaluation and Reports to Congress.--For each fiscal year in 
which a grant is awarded under this section, the Secretary shall submit 
a report to Congress containing a description of the activities funded, 
amounts distributed, and measurable results, as appropriate and 
available.

SEC. 4. LOW COST ALTERNATIVES TO PAYDAY LOANS.

    (a) Establishment of Program.--The Secretary is authorized to award 
demonstration project grants (including multi-year grants) to eligible 
entities to provide low-cost, small loans to consumers that will 
provide alternatives to more costly, predatory payday loans.
    (b) Eligible Entities.--An entity is eligible to receive a grant 
under this section if such an entity is--
            (1) 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;
            (2) a federally insured depository institution;
            (3) a community development financial institution; or
            (4) a partnership comprised of 1 or more of the entities 
        described in paragraphs (1) through (3).
    (c) Terms and Conditions.--
            (1) Percentage rate.--For purposes of this section, an 
        eligible entity that is a federally insured depository 
        institution shall be subject to the annual percentage rate 
        promulgated by the National Credit Union Administration's Loan 
        Interest Rates under part 701 of title 12, Code of Federal 
        Regulations (or any successor thereto), in connection with a 
        loan provided to a consumer pursuant to this section.
            (2) Financial literacy and education opportunities.--Each 
        eligible entity awarded a grant under this section shall offer 
        financial literacy and education opportunities, such as 
        relevant counseling services or educational courses, to each 
        consumer provided with a loan pursuant to this section.
    (d) Evaluation and Reports to Congress.--For each fiscal year in 
which a grant is awarded under this section, the Secretary shall submit 
a report to Congress containing a description of the activities funded, 
amounts distributed, and measurable results, as appropriate and 
available.

SEC. 5. PROCEDURAL PROVISIONS.

    (a) Applications.--A person desiring a grant under section 3 or 4 
shall submit an application to the Secretary, in such form and 
containing such information as the Secretary may require.
    (b) Limitation on Administrative Costs.--A recipient of a grant 
under section 3 or 4 may use not more than 6 percent of the total 
amount of such grant in any fiscal year for the administrative costs of 
carrying out the programs funded by such grant in such fiscal year.

SEC. 6. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to the Secretary, such sums 
as are necessary to carry out the grant programs authorized by this 
Act, to remain available until expended.

SEC. 7. REGULATIONS.

    The Secretary is authorized to promulgate regulations to implement 
and administer the grant programs authorized by this Act.

SOLUTION: Improving Access to Mainstream Financial Institutions Act of 2008 - Authorizes the Secretary of the Treasury to award grants, including multi-year grants, to specified eligible entities to establish an account in a federally insured depository institution for low- and moderate-income individuals who currently do not have such an account. Includes among such eligible entities: (1) Alaska Native Corporations; (2) Native Hawaiian organizations; and (3) labor organizations.

Authorizes the Secretary to award demonstration project grants to eligible entities to provide low-cost, small loans to consumers that will provide alternatives to more costly, predatory payday loans. Requires such entities to be: (1) tax-exempt charitable organizations; (2) federally insured depository institutions; (3) community development financial institutions; or (4) partnerships comprised of one or more of such entities. Requires grant recipients to offer financial literacy and education opportunities to each consumer provided with a loan pursuant to this Act.

PROBLEM: SECTION 1. FINANCIAL LITERACY SERVICES.

    Part A of title XI of the Social Security Act (42 U.S.C. 1301 et 
seq.) is amended by adding at the end the following new section:

                     ``financial literacy services

    ``Sec. 1150A.  (a) Definitions.--In this section:
            ``(1) Area agency on aging.--The term `area agency on 
        aging' has the meaning given that term in section 102 of the 
        Older Americans Act of 1965 (42 U.S.C. 3002).
            ``(2) Financial literacy services.--The term `financial 
        literacy services' means the services described in subsection 
        (b)(1).
            ``(3) Older individual.--The term `older individual' has 
        the meaning given that term in such section 102.
    ``(b) Grants for Services.--
            ``(1) In general.--The Secretary shall make grants to 
        eligible entities and other entities determined appropriate by 
        the Secretary to enable the entities to provide services to 
        improve financial literacy among older individuals, including 
        older individuals who are women, and the family members and 
        legal representatives of such individuals. The Secretary shall 
        make the grants on a competitive basis, and nationwide.
            ``(2) Eligible entities.--To be eligible to receive a grant 
        under this subsection, an entity shall be an area agency on 
        aging or another entity that meets such requirements as the 
        Secretary may specify.
            ``(3) Application.--To be eligible to receive a grant under 
        this subsection, an entity shall submit an application to the 
        Secretary at such time, in such manner, and containing such 
        information as the Secretary may require. In the case of an 
        entity who intends to provide the financial literacy services 
        jointly with other services as described in paragraph (4)(C), 
        the application shall include information demonstrating that 
        the entity has the capacity to provide the services jointly.
            ``(4) Use of funds.--
                    ``(A) In general.--An entity that receives a grant 
                under this subsection shall use the funds made 
                available through the grant to provide financial 
                literacy services, such as financial literacy 
                education, training, and assistance.
                    ``(B) Provision through contracts.--The entity may 
                provide the services directly or by entering into a 
                contract with an organization that provides counseling, 
                advice, or representation to older individuals and the 
                family members and legal representatives of such 
                individuals in a community served by the entity.
                    ``(C) Provision with other services.--The entity 
                may provide the services alone or jointly with other 
                services provided by or funded by the eligible entity, 
                such as--
                            ``(i) services provided through State 
                        Health Insurance Assistance Programs;
                            ``(ii) services provided through a Long-
                        Term Care Ombudsman program under section 
                        307(a)(9) or 712 of the Older Americans Act of 
                        1965 (42 U.S.C. 3027, 3058g);
                            ``(iii) information and assistance services 
                        provided under the Older Americans Act of 1965 
                        (42 U.S.C. 3001 et seq.);
                            ``(iv) legal assistance services provided 
                        under the Older Americans Act of 1965 (42 
                        U.S.C. 3001 et seq.);
                            ``(v) services provided through Senior 
                        Medicare Patrol Projects conducted by the 
                        Administration on Aging;
                            ``(vi) case management services; and
                            ``(vii) services provided through Aging and 
                        Disability Resource Centers.
            ``(5) Report.--The Secretary shall submit to Congress an 
        annual report on the activities carried out by entities under a 
        grant under this subsection.
    ``(c) National Support Center for Financial Literacy Grant.--
            ``(1) In general.--The Secretary may make a grant to an 
        eligible center to coordinate the services provided through, 
        and support the grant recipients under, the grant program 
        carried out under subsection (b).
            ``(2) Eligible center.--To be eligible to receive a grant 
        under this subsection, a center shall--
                    ``(A) be an entity that is housed within an 
                organization described in section 501(c) of the 
                Internal Revenue Code of 1986 that is exempt from 
                taxation under section 501(a) of such Code;
                    ``(B) have a minimum of 10 years experience 
                operating a national program and support center with a 
                focus on financial literacy; and
                    ``(C) be primarily engaged in outreach and training 
                activities designed to provide financial education and 
                retirement planning for low- and moderate-income 
                individuals, particularly with respect to women; and
                    ``(D) have a demonstrated record of collaboration 
                with organizations that focus on the needs of low- and 
                moderate-income individuals and with national 
                organizations serving the elderly, including those 
                working with area agencies on aging and women, as well 
                as organizations with expertise in financial services 
                and related fields.
            ``(3) Use of funds.--A center that receives a grant under 
        this subsection shall use the funds made available through the 
        grant to--
                    ``(A) design and conduct training (which may 
                include providing training for trainers) related to 
                financial literacy services;
                    ``(B) provide curricula for financial literacy 
                services;
                    ``(C) develop and disseminate relevant information 
                about financial literacy services;
                    ``(D) conduct outreach to national, State, and 
                community organizations through a series of strategic 
                partnerships in order to improve financial literacy 
                among older individuals and the family members and 
                legal representatives of such individuals;
                    ``(E) provide technical assistance to the grant 
                recipients under subsection (b) with respect to the 
                program; and
                    ``(F) collect data from such grant recipients about 
                the services provided under this section, and the 
                impact of those services.
            ``(4) Addressing challenges to women in securing adequate 
        retirement income.--In addition to the activities described in 
        paragraph (3), a center that receives a grant under this 
        subsection shall use the funds made available through the grant 
        to conduct activities that are focused on addressing the 
        challenges faced by older women, women of color, single women, 
        and women who are heads of households to securing an adequate 
        retirement income.
    ``(d) Coordination.--The Secretary shall ensure that the activities 
carried out under the grant program under subsection (b) and under a 
grant made under subsection (c) are coordinated with the activities 
carried out by--
            ``(1) the Office of Financial Education of the Department 
        of the Treasury; and
            ``(2) the Financial Literacy and Education Commission 
        established under section 513 of the Financial Literacy and 
        Education Improvement Act (20 U.S.C. 9702).
    ``(e) Funding.--The Secretary of the Treasury shall transfer to the 
Secretary of Health and Human Services from the Federal Old-Age and 
Survivors Insurance Trust Fund and Federal Disability Insurance Trust 
Fund established under section 201 such funds as are necessary for 
making grants under this section.''.

SOLUTION: Amends part A (General Provisions) of title XI of the Social Security Act to direct the Secretary of Health and Human Services to make grants to enable eligible entities to provide services to improve financial literacy among older individuals, including family members and legal representatives of such individuals.

Authorizes the Secretary to make such a grant to a national support center to: (1) coordinate services provided through the grant program; and (2) support grant recipients.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``International Anti-Corruption and 
Good Governance Act of 2000''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--The Congress finds the following:
            (1) Widespread corruption endangers the stability and 
        security of societies, undermines democracy, and jeopardizes 
        the social, political, and economic development of a society.
            (2) Corruption facilitates criminal activities, such as 
        money laundering, hinders economic development, inflates the 
        costs of doing business, and undermines the legitimacy of the 
        government and public trust.
            (3) In January 1997 the United Nations General Assembly 
        adopted a resolution urging member states to carefully consider 
        the problems posed by the international aspects of corrupt 
        practices and to study appropriate legislative and regulatory 
        measures to ensure the transparency and integrity of financial 
        systems.
            (4) The United States was the first country to criminalize 
        international bribery through the enactment of the Foreign 
        Corrupt Practices Act of 1977 and United States leadership was 
        instrumental in the passage of the Organization for Economic 
        Cooperation and Development (OECD) Convention on Combatting 
        Bribery of Foreign Public Officials in International Business 
        Transactions.
            (5) The Vice President, at the Global Forum on Fighting 
        Corruption in 1999, declared corruption to be a direct threat 
        to the rule of law and the Secretary of State declared 
        corruption to be a matter of profound political and social 
        consequence for our efforts to strengthen democratic 
        governments.
            (6) The Secretary of State, at the Inter-American 
        Development Bank's annual meeting in March 2000, declared that 
        despite certain economic achievements, democracy is being 
        threatened as citizens grow weary of the corruption and 
        favoritism of their official institutions and that efforts must 
        be made to improve governance if respect for democratic 
        institutions is to be regained.
            (7) In May 1996 the Organization of American States (OAS) 
        adopted the Inter-American Convention Against Corruption 
        requiring countries to provide various forms of international 
        cooperation and assistance to facilitate the prevention, 
        investigation, and prosecution of acts of corruption.
            (8) Independent media, committed to fighting corruption and 
        trained in investigative journalism techniques, can both 
        educate the public on the costs of corruption and act as a 
        deterrent against corrupt officials.
            (9) Competent and independent judiciary, founded on a 
        merit-based selection process and trained to enforce contracts 
        and protect property rights, is critical for creating a 
        predictable and consistent environment for transparency in 
        legal procedures.
            (10) Independent and accountable legislatures, responsive 
        political parties, and transparent electoral processes, in 
        conjunction with professional, accountable, and transparent 
        financial management and procurement policies and procedures, 
        are essential to the promotion of good governance and to the 
        combat of corruption.
            (11) Transparent business frameworks, including modern 
        commercial codes and intellectual property rights, are vital to 
        enhancing economic growth and decreasing corruption at all 
        levels of society.
            (12) The United States should attempt to improve 
        accountability in foreign countries, including by--
                    (A) promoting transparency and accountability 
                through support for independent media, promoting 
                financial disclosure by public officials, political 
                parties, and candidates for public office, open 
                budgeting processes, adequate and effective internal 
                control systems, suitable financial management systems, 
                and financial and compliance reporting;
                    (B) supporting the establishment of audit offices, 
                inspectors general offices, third party monitoring of 
                government procurement processes, and anti-corruption 
                agencies;
                    (C) promoting responsive, transparent, and 
                accountable legislatures that ensure legislative 
                oversight and whistle-blower protection;
                    (D) promoting judicial reforms that criminalize 
                corruption and promoting law enforcement that 
                prosecutes corruption;
                    (E) fostering business practices that promote 
                transparent, ethical, and competitive behavior in the 
                private sector through the development of an effective 
                legal framework for commerce, including anti-bribery 
                laws, commercial codes that incorporate international 
                standards for business practices, and protection of 
                intellectual property rights; and
                    (F) promoting free and fair national, state, and 
                local elections.
    (b) Purpose.--The purpose of this Act is to ensure that United 
States assistance programs promote good governance by assisting other 
countries to combat corruption throughout society and to improve 
transparency and accountability at all levels of government and 
throughout the private sector.

SEC. 3. DEVELOPMENT ASSISTANCE POLICIES.

    (a) General Policy.--Section 101(a) of the Foreign Assistance Act 
of 1961 (22 U.S.C. 2151(a)) is amended in the fifth sentence--
            (1) by striking ``four'' and inserting ``five'';
            (2) in paragraph (3), by striking ``and'' at the end;
            (3) in paragraph (4), by striking the period at the end and 
        inserting ``; and''; and
            (4) by adding at the end the following:
            ``(5) the promotion of good governance through combating 
        corruption and improving transparency and accountability.'' .
    (b) Development Assistance Policy.--Paragraph (4) of the third 
sentence of section 102(b) of the Foreign Assistance Act of 1961 (22 
U.S.C. 2151-1(b)) is amended--
            (1) in subparagraph (E), by striking ``and'' at the end;
            (2) in subparagraph (F), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following:
                    ``(G) progress in combating corruption and 
                improving transparency and accountability in the public 
                and private sector.''.

SEC. 4. DEPARTMENT OF THE TREASURY TECHNICAL ASSISTANCE PROGRAM FOR 
              DEVELOPING COUNTRIES.

    Section 129(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2151aa(b)) is amended by adding at the end the following:
            ``(3) Emphasis on anti-corruption.--Such technical 
        assistance shall include elements designed to combat anti-
        competitive, unethical and corrupt activities, including 
        protection against actions that may distort or inhibit 
        transparency in market mechanisms and, to the extent 
        applicable, privatization procedures.''.

SEC. 5. AUTHORIZATION OF GOOD GOVERNANCE PROGRAMS.

    (a) In General.--Chapter 1 of part I of the Foreign Assistance Act 
of 1961 (22 U.S.C. 2151 et seq.) is amended by adding at the end the 
following:

``SEC. 131. PROGRAMS TO ENCOURAGE GOOD GOVERNANCE.

    ``(a) Establishment of Programs.--
            ``(1) In general.--The President is authorized to establish 
        programs that combat corruption, improve transparency and 
        accountability, and promote other forms of good governance in 
        countries described in paragraph (2).
            ``(2) Countries described.--A country described in this 
        paragraph is a country that is eligible to receive assistance 
        under this part (including chapter 4 of part II of this Act) or 
        the Support for East European Democracy (SEED) Act of 1989.
            ``(3) Priority.--In carrying out paragraph (1), the 
        President shall give priority to establishing programs in 
        countries that received a significant amount of United States 
        foreign assistance for the prior fiscal year, or in which the 
        United States has a significant economic interest, and that 
        continue to have the most persistent problems with public and 
        private corruption. In determining which countries have the 
        most persistent problems with public and private corruption 
        under the preceding sentence, the President shall take into 
        account criteria such as the Transparency International Annual 
        Corruption Perceptions Index, standards and codes set forth by 
        the International Bank for Reconstruction and Development and 
        the International Monetary Fund, and other relevant criteria.
            ``(4) Requirement.--Assistance provided for countries under 
        programs established pursuant to paragraph (1) may be made 
        available notwithstanding any other provision of law that 
        restricts assistance to foreign countries (other than section 
        620A of this Act or any other comparable provision of law).
    ``(b) Specific Projects and Activities.--The programs established 
pursuant to subsection (a) shall include, to the extent appropriate, 
projects and activities that--
            ``(1) support responsible independent media to promote 
        oversight of public and private institutions;
            ``(2) implement financial disclosure among public 
        officials, political parties, and candidates for public office, 
        open budgeting processes, and transparent financial management 
        systems;
            ``(3) support the establishment of audit offices, 
        inspectors general offices, third party monitoring of 
        government procurement processes, and anti-corruption agencies;
            ``(4) promote responsive, transparent, and accountable 
        legislatures that ensure legislative oversight and whistle-
        blower protection;
            ``(5) promote legal and judicial reforms that criminalize 
        corruption and law enforcement reforms and development that 
        encourage prosecutions of criminal corruption;
            ``(6) assist in the development of a legal framework for 
        commercial transactions that fosters business practices that 
        promote transparent, ethical, and competitive behavior in the 
        economic sector, such as commercial codes that incorporate 
        international standards and protection of intellectual property 
        rights;
            ``(7) promote free and fair national, state, and local 
        elections;
            ``(8) foster public participation in the legislative 
        process and public access to government information; and
            ``(9) engage civil society in the fight against corruption.
    ``(c) Conduct of Projects and Activities.--Projects and activities 
under the programs established pursuant to subsection (a) may include, 
among other things, training and technical assistance (including 
drafting of anti-corruption, privatization, and competitive statutory 
and administrative codes), drafting of anti-corruption, privatization, 
and competitive statutory and administrative codes, support for 
independent media and publications, financing of the program and 
operating costs of nongovernmental organizations that carry out such 
projects or activities, and assistance for travel of individuals to the 
United States and other countries for such projects and activities.
    ``(d) Annual Report.--
            ``(1) In general.--The President shall prepare and transmit 
        to the Committee on International Relations of the House of 
        Representatives and the Committee on Foreign Relations of the 
        Senate an annual report on--
                    ``(A) projects and activities carried out under 
                programs established under subsection (a) for the prior 
                year in priority countries identified pursuant to 
                subsection (a)(3); and
                    ``(B) projects and activities carried out under 
                programs to combat corruption, improve transparency and 
                accountability, and promote other forms of good 
                governance established under other provisions of law 
                for the prior year in such countries.
            ``(2) Required contents.--The report required by paragraph 
        (1) shall contain the following information with respect to 
        each country described in paragraph (1):
                    ``(A) A description of all United States 
                Government-funded programs and initiatives to combat 
                corruption and improve transparency and accountability 
                in the country.
                    ``(B) A description of United States diplomatic 
                efforts to combat corruption and improve transparency 
                and accountability in the country.
                    ``(C) An analysis of major actions taken by the 
                government of the country to combat corruption and 
                improve transparency and accountability in the country.
    ``(e) Funding.--Amounts made available to carry out the other 
provisions of this part (including chapter 4 of part II of this Act) 
and the Support for East European Democracy (SEED) Act of 1989 shall be 
made available to carry out this section.''.
    (b) Deadline for Initial Report.--The initial annual report 
required by section 131(d)(1) of the Foreign Assistance Act of 1961, as 
added by subsection (a), shall be transmitted not later than 180 days 
after the date of the enactment of this Act.

            Passed the House of Representatives July 25, 2000.

            Attest:

                                                  Jeff Trandahl

                                                                 Clerk.

SOLUTION:
Amends the Foreign Assistance Act of 1961 to require technical assistance provided by a certain program to foreign governments and foreign central banks of developing or transitional countries also to include elements designed to combat anti-competitive, unethical, and corrupt activities, including protection against actions that may distort or inhibit transparency in market mechanisms and, to the extent applicable, privatization procedures.
Authorizes the President to establish programs that combat corruption, improve transparency and accountability, and promote other forms of good governance in developing countries or countries eligible to receive assistance under the Support for East European Democracy (SEED) Act of 1989. Requires the President to give priority to establishing programs in countries that received a significant amount of U.S. foreign assistance for the prior fiscal year, or in which the United States has a significant economic interest, and that continue to have the most persistent problems with public and private corruption. Requires the President to report to specified congressional committees with respect to such programs. Authorizes appropriations.