Sec. 1204. EXPANDED ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS
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## SEC. 1204 EXPANDED ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS **[**[12 U.S.C. 5623](/us/usc/t12/s5623)**]** ###
(a)In General The Secretary is authorized to establish a multiyear program of grants, cooperative agreements, financial agency agreements, and similar contracts or undertakings to promote initiatives designed— ####
(1)to enable low- and moderate-income individuals to establish one or more accounts in a federally insured depository institution that are appropriate to meet the financial needs of such individuals; and ####
(2)to improve access to the provision of accounts, on reasonable terms, for low- and moderate-income individuals. ###
(b)Program Eligibility and Activities ####
(1)In general The Secretary shall restrict participation in any program established under subsection
(a)to an eligible entity. Subject to regulations prescribed by the Secretary under this title, 1 or more eligible entities may participate in 1 or several programs established under subsection (a). ####
(2)Account activities Subject to regulations prescribed by the Secretary, an eligible entity may, in participating in a program established under subsection (a), offer or provide to low- and moderate-income individuals products and services relating to accounts, including— #####
(A)small-dollar value loans; and #####
(B)financial education and counseling relating to conducting transactions in and managing accounts.
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Sec. 1204
EXPANDED ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS
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