; (C) invest any funds held on behalf of an entity not described in section 101(b)(1) in a payments account or as digital dollar products; and (D) provide money transmitter and digital dollar services. (f) Guidance with respect to excluded and marginalized groups Not later than 1 year after the date of the enactment of this Act, the Board of Governors shall issue guidance to non-federally chartered banks to ensure that the services provided by such banks are universal and comprehensively include historically excluded and marginalized groups. 103. Federal Reserve System membership (a) Eligibility A covered bank shall be eligible for membership in the Federal Reserve System as a public member bank and, except as provided in subsection (c), shall be treated in the same manner as a member bank under section 4 of the Federal Reserve Act ( 12 U.S.C. 308 ). (b) Conditional Public Member Bank The Board of Governors shall establish a special category of public member bank, called a conditional public member bank , for persons that are in the process of applying for becoming a covered bank. Such conditional public member banks shall be subject to such conditions and restrictions as the Board of Governors determines to be necessary and appropriate to promote public welfare, provided that such conditions and restrictions are not arbitrary, punitive, or unduly burdensome. (c) Purchasing stock The Board of Governors may not require a covered bank to purchase stock in a Federal Reserve Bank or otherwise maintain paid-in capital in the Federal Reserve System. 104. Public member bank services (a) Purposes of services The Board of Governors shall offer the services described in subsection (b) to public member banks in order to— (1) promote the safety, soundness, viability, and resiliency of publicly owned and operated financial institutions; (2) facilitate the provision of payments, credit, and other financial services as a public good