Federal · Title 12 — Banks and Banking
12 U.S.C. § 5623: Expanded access to mainstream financial institutions
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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 to improve access to the provision of accounts, on reasonable terms, for low- and moderate-income individuals. 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 subchapter, 1 or more eligible entities may participate in 1 or several programs established under subsection (a). small-dollar value loans; and financial education and counseling relating to conducting transactions in and managing accounts.
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