1. Participation of community development financial institutions in the paycheck protection program (a) Delegated authority Section 7(a)(36)(F) of the Small Business Act ( 15 U.S.C. 636(a)(36)(F) ) is amended— (1) in clause (ii)(I), by inserting and a community development financial institution after under this subsection ; (2) in clause (iii), by striking shall be extended to additional lenders and inserting the following: shall be extended— (I) to community development financial institutions; and (II) to additional lenders ; and (3) by adding at the end the following new clause: (vi) Revocation of lenders The authority of a lender to make loans under this paragraph may be revoked upon a joint determination by the Administrator and the Secretary of the Treasury that— (I) such lender has had recent compliance shortcomings or other material operational shortcomings that warrant such a revocation; and (II) such a revocation is consistent with the purpose of this paragraph. . (b) Existing customers of non-Bank CDFIs The Secretary of the Treasury and the Administrator of the Small Business Administration shall revise any rules or guidance issued to carry out section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) to specify that a non-bank CDFI does not have to go through a reverification of information about an existing customer for purposes of the Bank Secrecy Act, if the non-bank CDFI has maintained an ongoing financial relationship with the customer that is well documented, and there is no need for further due diligence based on the non-bank CDFI’s risk-based approach to Bank Secrecy Act compliance. (c) Definitions In this Act: (1) Bank Secrecy Act The term Bank Secrecy Act means— (A) section 21 of the Federal Deposit Insurance Act ( 12 U.S.C. 1829b ); (B) chapter 2 of title I of Public Law 91–508 ( 12 U.S.C. 1951 et seq.); and (C) subchapter II of chapter 53 of title 31, United States Code