To provide regulatory relief for Black and community banks, to codify the Minority Bank Deposit Program, and for other purposes.

• This bill establishes programs and requirements related to minority banks, Black banks, community banks, women’s banks, and low-income credit unions.
• The bill establishes the Office of Black and Community Banks in the Office of the Comptroller of the Currency (OCC) to oversee Black and community banks. The OCC and the Securities and Exchange Commission must exempt these banks from specified securities and federal banking regulations in certain circumstances.
• The bill also establishes the Minority Bank Deposit Program. The Department of the Treasury must certify a depository institution or credit union upon successful application as a minority bank, a women’s bank, or a low-income credit union. Every federal department and agency is directed to implement standards and procedures to ensure the use of such institutions to serve the financial needs of the department or agency.
• The Government Accountability Office must study the use of the new markets tax credit, lower-value home mortgages, and blockchain investments.