; and (D) with respect to account data, may only be accessed by appropriate warrant or administrative search subpoena. (5) Metadata A covered bank— (A) may not share metadata with private or for-profit third parties; and (B) shall hold metadata unused in a manner consistent with rights of privacy and duty of care. (f) Terms of lending (1) Establishment of policy on lending practices (A) In general Not later than the end of the 1-year period beginning on the date of the formation of a public lending bank, the public lending bank shall establish a policy on lending practices. With respect to a public lending bank in existence on the date of enactment of this Act, the policy on lending practices shall be established before the end of the 1-year period beginning on the date of enactment of this Act. (B) Update of policy A public lending bank shall update the policy on lending practices required under subparagraph (A) at least every 5 years. (C) Public comment process A public lending bank shall provide for a public comment period of at least 90 days before the establishment of, and any update of, the policy on lending practices required under this paragraph. (2) Lending preferences For purposes of determining the projects with respect to which a public lending bank extends loans, the public lending bank shall give preference to projects that— (A) maximize the creation of high-quality employment and apprenticeship opportunities for local workers, consistent with the public interest, especially workers from environmental justice communities and labor organizations; (B) certify, for all contractors and subcontractors, that the rights of workers to organize and unionize are recognized; (C) agree to implement a project labor agreement; (D) ensure that no less than 40 percent of the monetary value of such loans provide direct benefits, including economic and health benefits, to environmental justice communities