; (2) by striking means any and inserting the following: means— (A) any ; (3) in clause (iii) (as so redesignated), by striking the period at the end and inserting ; or ; and (4) by inserting at the end the following new subparagraph: (B) any bank described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act— (i) more than 50 percent of the outstanding shares of which are held by 1 or more women; and (ii) the majority of the directors on the board of directors of which are women. . 5. Establishment of impact bank designation (a) In general Each Federal banking agency shall establish a program under which a depository institution with total consolidated assets of less than $10,000,000,000 may elect to be designated as an impact bank if the total dollar value of the loans extended by such depository institution to low-income borrowers is greater than or equal to 50 percent of the assets of such bank. (b) Notification of eligibility Based on data obtained through examinations of depository institutions, the appropriate Federal banking agency shall notify a depository institution if the institution is eligible to be designated as an impact bank. (c) Application Regardless of whether or not it has received a notice of eligibility under subsection (b), a depository institution may submit an application to the appropriate Federal banking agency— (1) requesting to be designated as an impact bank; and (2) demonstrating that the depository institution meets the applicable qualifications. (d) Limitation on additional data requirements The Federal banking agencies may only impose additional data collection requirements on a depository institution under this section if such data is— (1) necessary to process an application submitted by the depository institution to be designated an impact bank