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This bill provides $1 billion in FY2020 supplemental appropriations to the Community Development Financial Institutions Fund for providing financial and technical assistance.

This bill authorizes additional funding for financial assistance and technical assistance under the Community Development Financial Institutions Fund, with a specified amount set aside for minority lending institutions.

This bill modifies and provides additional funding for the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides an additional $10 billion to guarantee paycheck protection loans, $7.5 billion of which shall be for small loans made by community development financial institutions or minority depository institutions. The bill also * establishes a grant program to provide assistance to community development financial institutions and minority depository institutions that primarily make small paycheck protection loans; * provides additional funding for the Community Development Financial Institutions Fund and prioritizes support for minority-led community development financial institutions or community development financial institutions that serve communities of color; * authorizes community development financial institutions that are certified by the fund to make and approve paycheck protection loans; * extends the deadline to apply for a paycheck protection loan; * allows recipients up to 24 weeks to use their paycheck protection loan; * * extends the deadline by which a paycheck protection loan recipient must eliminate a reduction in employment, salary, or wages to be eligible for loan forgiveness.

Community Impact Financial Institutions Inclusion Act of 2020 This bill allocates a certain portion of specified COVID-19 (i.e., coronavirus disease 2019) economic aid to finance loans originated by small financial institutions. Specifically, 20% of this aid must be allocated to community lenders, insured depository institutions, and credit unions with less than $10 billion in assets and 5% of this aid must be allocated to minority depository institutions and community development financial institutions with less than $10 billion in assets.

Community Development in Opportunity Zones Act of 2020 This bill includes within the definition ofqualified opportunity zonebusinessany community development financial institution. This allows qualified opportunity funds to invest in such institutions.

This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions and small community development financial institutions during the COVID-19 (i.e., coronavirus disease 2019) emergency period. The board must charge interest on these loans beginning 18 months after the end of the emergency period.

This bill authorizes community development financial institutions to make loans under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). The bill also allows the Small Business Administration and the Department of the Treasury to revoke a lender's authority to make paycheck protection loans upon a joint determination that (1) the lender has had recent material operational shortcomings that warrant such a revocation, and (2) the revocation is consistent with the purpose of the program.

This bill expands existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs to include nonprofit organizations and institutions of higher education. Specifically, the Federal Reserve Board must make these organizations eligible for the Main Street Lending Program, which is currently available to small- and mid-sized businesses. The board must create low-cost loan options for nonprofit organizations, as well offer loan forgiveness to certain nonprofit organizations that predominately serve low-income communities. The Main Street Lending Program must offer loans that do not have a minimum loan size and includes the ability to defer payments without capitalization of interest to small businesses, nonprofits, and institutions of higher education. The board must authorize community development financial institutions to be eligible lenders.

Coronavirus CDFI Funding Act This bill provides $1 billion in FY2020 supplemental appropriations to the Community Development Financial Institutions Fund for providing financial and technical assistance.

Minority Depository Institution and Community Bank Deposit Access Act of 2020 This bill specifies that certain custodial deposits at eligible institutions shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party. Among other requirements, the bill provides that an eligible institution includes small depository institutions, community development financial institutions, and minority depository institutions. Additionally, the bill specifies that only low-income credit unions and minority depository institutions that are federally insured credit unions are eligible for certain community development revolving loans.

Indian Community Economic Enhancement Act of 2019 This bill makes several revisions related to economic development for Native American communities. Specifically, the bill establishes duties for the Office of Native American Business Development, including (1) advising the Department of Commerce regarding the relationship between the United States and Indian tribes; and (2) serving as the point of contact for tribes, tribal organizations, and members of tribes regarding economic development and doing business in Indian lands. The bill also requires coordination between Commerce, the Department of the Interior, and the Department of the Treasury to support economic development in Native American communities. Under the bill, assistance from the Community Development Financial Institutions Fund benefiting Native American institutions does not require matching funds. The bill requires the Department of Health and Human Services (HHS) to use Native American labor and purchase Native American industry products, unless Interior or HHS determines it would be impracticable and unreasonable to do so. Among other requirements, HHS and Interior must conduct outreach to Indian industrial entities in the implementation of enterprise development. Additionally, the bill authorizes the Administration for Native Americans (ANA) to provide financial assistance to Native American community development financial institutions. ANA must give priority for financial assistance to applicants whose programs seek to develop (1) tribal codes and court systems relating to economic development, (2) tribal business structures, (3) community development financial institutions, or (4) tribal master plans for community and economic development and infrastructure.

Indian Community Economic Enhancement Act of 2020 This bill makes several revisions related to economic development for Native American communities. (Sec. 3) Specifically, the bill establishes duties for the Office of Native American Business Development, including (1) advising the Department of Commerce regarding the relationship between the United States and Indian tribes; and (2) serving as the point of contact for tribes, tribal organizations, and members of tribes regarding economic development and doing business in Indian lands. The bill also requires coordination between Commerce, the Department of the Interior, and the Department of the Treasury to support economic development in Native American communities. Under the bill, assistance from the Community Development Financial Institutions Fund benefiting Native American institutions does not require matching funds. The Government Accountability Office must conduct a study that assesses (1) current programs and services that assist Native American communities with business and economic development; (2) assistance provided to Native Americans pursuant to loan, bond, and tax incentive programs; and (3) alternative incentives for tribal governments to invest in a Native American community development investment fund or bank. (Sec. 4) The bill requires the Department of Health and Human Services (HHS) to use Native American labor and purchase Native American industry products, unless Interior or HHS determines it would be impracticable and unreasonable to do so. Among other requirements, HHS and Interior must conduct outreach to Indian industrial entities in the implementation of enterprise development. (Sec. 5) Additionally, the bill authorizes the Administration for Native Americans (ANA) to provide financial assistance to Native American community development financial institutions. ANA must give priority for financial assistance to applicants whose programs seek to develop (1) tribal codes and court systems relating to economic development, (2) tribal business structures, (3) community development financial institutions, or (4) tribal master plans for community and economic development and infrastructure.

Ensuring Diversity in Community Banking Act This bill establishes and revises provisions related to minority depository institutions, community development financial institutions, and impact banks. (Sec. 4) The bill expands the definition of minority depository institutions to include women-owned banks. It also establishes impact banks as depository institutions with total assets less than $10 billion and where a certain total dollar value of loans are extended to low-income borrowers. (Sec. 6) The bill creates Minority Depository Institutions Advisory Committees at the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The committees must provide advice to their respective entities regarding preservation of the number and character of minority-owned institutions and the creation of new institutions. (Sec. 8) The bill establishes the Minority Bank Deposit Program to prioritize the use of minority depository institutions to hold the deposits of federal departments and agencies. (Sec. 10) The bill sets forth the threshold of controlling shares with respect to minority depository institutions and impact banks. It also allows new minority depository institutions and impact banks to take three years to meet initial capital requirements. (Sec. 12) The bill establishes a program allowing minority depository institutions and impact banks to apply to receive deposits from certain Treasury accounts. (Sec. 13) The Federal Deposit Insurance Corporation must evaluate certain applications for deposit insurance for eligibility as a community development financial institution. (Sec. 14) The Small Business Administration must establish a task force on lending to small business concerns by improving relationships with community development financial institutions, minority depository institutions, and impact banks. (Sec. 15) The bill also decreases, beginning September 30, 2030, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

Small Business and Community Investments Expansion Act of 2020 This bill allows a Federal Home Loan Bank to make long-term advances to certain community development financial institutions and insured credit unions for activities related to small businesses, small farms, small agri-businesses, and community development. Currently, only certain community development financial institutions may qualify for these advances.

This bill requires that specified amounts be set aside from funds appropriated to carry out the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), and it establishes requirements for processing program loan applications. The bill requires that $1 billion of program funds not otherwise obligated or expended be set aside for loan guarantees made by minority depository institutions and community development financial institutions. Further, for any future appropriations to carry out the program, the bill revises the amounts that the Small Business Administration (SBA) must set aside to provide for the cost of guaranteed paycheck protection loans made by certain lenders. The SBA and the Department of the Treasury must, no less than twice weekly, provide separate eight-hour periods during which they shall process (1) loan applications compiled by lenders with consolidated assets of less than $1 million, and (2) loan applications for less than $200,000 from a recipient that has 20 or fewer employees. The SBA and Treasury must report on funds made available to lenders and community development financial institutions to carry out the Paycheck Protection Program and the total consolidated assets of each lender. For future appropriations to carry out the program, the SBA and Treasury must report (1) daily on the amount of funds not yet obligated or expended, and (2) weekly on the amount of funds made available to lenders and community development financial institutions and the total consolidated assets of each lender.

CDFI Crisis Fund Act This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by * certain emergency declarations, including the COVID-19 (i.e., coronavirus disease 2019) emergency period; * certain disaster declarations; * a specified increase in a statewide unemployment rate; or * a specified increase in the nationwide unemployment rate. Specified amounts in the fund are set aside for grants to Native and minority CDFIs. The Government Accountability Office must report on the impact of the fund and provide recommendations.

Support for Global Financial Institution Pandemic Response Act of 2020 This bill requires each U.S. Executive Director at an international financial institution to take certain actions in support of the global response to COVID-19 (i.e., coronavirus disease 2019). Specifically, each U.S. Executive Director at an international financial institution (e.g., the International Bank for Reconstruction and Development or the International Finance Corporation) must * seek the suspension of debt service payments to the institution and the relaxation of fiscal targets for certain programs, * oppose programs or loan agreements that would reduce countries' health care spending or other spending related to their responses to COVID-19, and * require approval of all Special Drawing Rights (a currency support tool) allocation transfers from wealthier member countries to countries that are emerging or developing to ensure the allocations are used for the public good and in response to the global pandemic. Further, the U.S. Executive Director at the International Monetary Fund must support the issuance of Special Drawing Rights so that governments may access additional resources to finance their responses to COVID-19.

Young Americans Financial Literacy Act This bill requires the Consumer Financial Protection Bureau to award competitive grants to eligible institutions for the establishment of financial literacy education programs for young people and families. Aneligible institutionis a partnership among two or more of the following * an institution of higher education; * a state or local government agency specializing in financial education; * a nonprofit agency, organization, or association; * a financial institution; or * another small organization. Authorized grant funded activities shall include * developing and implementing comprehensive, research based, financial-literacy education programs for young people; * designing instructional materials; * developing and supporting the delivery of professional development programs in financial literacy education; * improving access to, and dissemination of, financial literacy information for young people and families; * developing educational programs to reduce student loan default rates; * conducting ongoing research and evaluation of financial literacy education programs; and * measuring the effectiveness of authorized activities. The grant program shall terminate after FY2025.

This bill establishes the Community Capital Investment Program to provide capital investments and interest-free loans to community development financial institutions, minority depository institutions, and certain small credit unions and banks to support low-income borrowers.

This bill establishes the Community Capital Investment Program to provide capital investments and interest-free loans to community development financial institutions, minority depository institutions, and certain small credit unions and banks to support low-income borrowers.

Economic Empowerment for Underserved Communities Act This bill provides economic assistance to small businesses impacted by COVID-19 (i.e., coronavirus disease 2019), including through (1) the designation of specified amounts for the Community Development Financial Institutions Fund, (2) the establishment of a Small Business and Domestic Production Recovery Investment Facility, and (3) the extension of the requirement that the Small Business Administration subsidize certain loan payments.

Financial Institutions Examination Fairness and Reform Act This bill (1) sets deadlines for final examination reports and exit interviews of a financial institution by a federal financial regulatory agency, and (2) establishes the Office of Independent Examination Review to adjudicate appeals and investigate complaints from financial institutions concerning examination reports. The bill also requires the establishment of an independent internal agency appellate process at the Consumer Financial Protection Bureau (CFPB) for the review of supervisory determinations made at institutions supervised by the CFPB.

Promoting and Advancing Communities of Color through Inclusive Lending Act This bill revises requirements applicable to Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) and addresses lending during the COVID-19 (i.e., coronavirus disease 2019) pandemic. The bill establishes mandatory set-asides for (1) minority CDFIs under the CDFI Fund, and (2) CDFIs and MDIs under existing COVID-19 economic aid programs. The bill also establishes animpact bankdesignation for certain small depository institutions that lend primarily to low-income borrowers and establishes programs for impact banks and MDIs regarding investments, technical assistance, and federal government deposits. Finally, the Department of the Treasury must provide capital and interest-free loans to CDFIs, MDIs, impact banks, and credit unions that primarily serve low-income, underserved communities. The bill also reduces the CDFI Bond Guarantee Program minimum issuance amount from $100 million to $25 million for FY2020 and to $50 million for fiscal years thereafter.

Jobs and Neighborhood Investment Act This bill establishes investment programs and generally revises provisions related to community development financial institutions and minority depository institutions. The Department of the Treasury must establish a Neighborhood Capital Investment Program to facilitate direct capital investments in low- and moderate-income community financial institutions. To qualify for the program, these institutions must, among other things, (1) demonstrate specified lending history regarding low-and moderate-income borrowers and other targeted populations, and (2) provide details regarding plans to expand or maintain lending to certain minority communities and historically disadvantaged borrowers. The bill also establishes the Neighborhood Loan Program through the Federal Reserve Board's emergency powers to create a credit facility for small business loans, specifically targeting low- and moderate-income community financial institutions serving low- and moderate-income and minority communities. The bill requires certain amounts available through existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs to be set aside for the Community Development Financial Institutions Fund. Regarding minority depository institutions, the bill * establishes the Minority Bank Deposit Program to expand the use of minority depository institutions to hold the deposits of federal departments and agencies, * allows new minority depository institutions to take three years to meet initial capital requirements, and * establishes a program allowing minority depository institutions to apply to receive deposits from certain Treasury accounts.

Jobs and Neighborhood Investment Act This bill establishes investment programs and generally revises provisions related to community development financial institutions and minority depository institutions. The Department of the Treasury must establish a Neighborhood Capital Investment Program to facilitate direct capital investments in low- and moderate-income community financial institutions. To qualify for the program, these institutions must, among other things, (1) demonstrate specified lending history regarding low-and moderate-income borrowers and other targeted populations, and (2) provide details regarding plans to expand or maintain lending to certain minority communities and historically disadvantaged borrowers. The bill also establishes the Neighborhood Loan Program through the Federal Reserve Board's emergency powers to create a credit facility for small business loans, specifically targeting low- and moderate-income community financial institutions serving low- and moderate-income and minority communities. The bill requires certain amounts available through existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs to be set aside for the Community Development Financial Institutions Fund. Regarding minority depository institutions, the bill * establishes the Minority Bank Deposit Program to expand the use of minority depository institutions to hold the deposits of federal departments and agencies, * allows new minority depository institutions to take three years to meet initial capital requirements, and * establishes a program allowing minority depository institutions to apply to receive deposits from certain Treasury accounts.