United States Code

12 U.S.C. § 5710

Oversight and audits

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Bills that would change it 16

  • HR 8511 Ending Discrimination in Government Contracting Act Amends its part · introduced · 119th Congress
  • S 4390 Ending Discrimination in Government Contracting Act Amends its part · introduced · 119th Congress
  • HR 4499 To make technical amendments to update statutory references to provisions reclassified to title 34, United States Code, and to correct re... Amends 5710(b)(2) · introduced · 119th Congress
  • HR 2732 EARN IT Act of 2023 Amends 5710(c) · introduced · 118th Congress
  • HR 3578 To make technical amendments to update statutory references to provisions reclassified to title 34, United States Code, and to correct re... Amends 5710(b)(2) · introduced · 118th Congress
  • HR 5182 Child Online Safety Modernization Act of 2023 Amends 5710(c) · introduced · 118th Congress
  • S 2597 Digital Consumer Protection Commission Act of 2023 Amends 5710(c) · introduced · 118th Congress
  • S 1207 EARN IT Act of 2023 Amends 5710(c) · introduced · 118th Congress
  • S 4476 SSBCI Improvement Act Amends its part · introduced · 117th Congress
  • HR 7874 SSBCI Improvement Act Amends its part · introduced · 117th Congress
  • S 3538 EARN IT Act of 2022 Amends 5710(c) · introduced · 117th Congress
  • HR 6544 EARN IT Act of 2022 Amends 5710(c) · introduced · 117th Congress
  • HR 5705 To make technical amendments to update statutory references to provisions reclassified to title 34, United States Code. Amends 5710(b)(2) · introduced · 117th Congress
  • HR 1319 American Rescue Plan Act of 2021 Amends its part 5710(10) · enacted · 117th Congress
  • HR 1669 State Small Business Credit Initiative Renewal Act Amends its part 5710(10) · introduced · 117th Congress
  • HR 5335 To make technical amendments to update statutory references to provisions reclassified to title 34, United States Code. Amends 5710(b)(2) · introduced · 115th Congress

The law today

From the official United States Code, current through Public Law 119-121.

(a) Inspector General oversight The Inspector General of the Department of the Treasury shall conduct, supervise, and coordinate audits and investigations of the use of funds made available under the Program. (b) Required certification (1) Financial institutions certification With respect to funds received by a participating State under the Program, any financial institution that receives a loan, a loan guarantee, or other financial assistance using such funds after March 11, 2021, shall certify that such institution is in compliance with the requirements of section 103.121 of title 31, Code of Federal Regulations, a regulation that, at a minimum, requires financial institutions, as that term is defined in section 5312(a)(2) and (c)(1)(A) of title 31, to implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable, maintain records of the information used to verify the person’s identity, and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency. (2) Sex offense certification With respect to funds received by a participating State under the Program, any private entity that receives a loan, a loan guarantee, or other financial assistance using such funds after March 11, 2021, shall certify to the participating State that the principals of such entity have not been convicted of a sex offense against a minor (as such terms are defined in section 20911 of title 34). (c) Prohibition on pornography None of the funds made available under this chapter may be used to pay the salary of any individual engaged in activities related to the Program who has been officially disciplined for violations of subpart G of the Standards of Ethical Conduct for Employees of the Executive Branch for viewing, downloading, or exchanging pornography, including child pornography, on a Federal Government computer or while performing official Federal Government duties.
Official text at uscode.house.gov ↗