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12.1 Treasury to Promote Access to Accounts

<< Title XII Overview

12.1 Treasury to Promote Access to Accounts

 

 


12.1.     Treasury to Promote Access to Accounts.  The Treasury Secretary is authorized to establish a program of incentives (that may include grants, and various contracts or agreements) intended to enable low- and moderate-income individuals to establish accounts in an insured depository institution that are appropriate to meet their needs. Accounts include deposits accounts, an account for a closed-end loan and other products or services. Parties that may participate in the program include insured depository institutions, and 501(c)(3) organizations ("Eligible Entities"). Eligible Entities may offer services related to such accounts, including, small-dollar loans, and financial education. [§1204]