Notes on 12 U.S.C. § 2901 : US Code - Notes

Search Notes on 12 U.S.C. § 2901 : US Code - Notes

(Pub. L. 95-128, title VIII, Sec. 802, Oct. 12, 1977, 91 Stat.
1147.)
SHORT TITLE
Section 801 of title VIII of Pub. L. 95-128 provided that: "This
title [enacting this chapter] may be cited as the 'Community
Reinvestment Act of 1977'."
RESPONSIVENESS TO COMMUNITY NEEDS FOR FINANCIAL SERVICES
Pub. L. 106-102, title VII, Sec. 715, Nov. 12, 1999, 113 Stat.
1470, provided that:
"(a) Study. - The Secretary of the Treasury, in consultation with
the Federal banking agencies (as defined in section 3(z) of the
Federal Deposit Insurance Act [12 U.S.C. 1813(z)]), shall conduct a
study of the extent to which adequate services are being provided
as intended by the Community Reinvestment Act of 1977 [12 U.S.C.
2901 et seq.], including services in low- and moderate-income
neighborhoods and for persons of modest means, as a result of the
enactment of this Act [see Tables for classification].
"(b) Reports. -
"(1) In general. - The Secretary of the Treasury shall -
"(A) before March 15, 2000, submit a baseline report to the
Congress on the study conducted pursuant to subsection (a); and
"(B) before the end of the 2-year period beginning on the
date of the enactment of this Act [Nov. 12, 1999], in
consultation with the Federal banking agencies, submit a final
report to the Congress on the study conducted pursuant to
subsection (a).
"(2) Recommendations. - The final report submitted under
paragraph (1)(B) shall include such recommendations as the
Secretary determines to be appropriate for administrative and
legislative action with respect to institutions covered under the
Community Reinvestment Act of 1977 [12 U.S.C. 2901 et seq.]."
REPORT ON COMMUNITY DEVELOPMENT LENDING
Pub. L. 102-550, title IX, Sec. 910, Oct. 28, 1992, 106 Stat.
3874, provided that:
"(a) In General. - Not later than 12 months after the date of
enactment of this section [Oct. 28, 1992], the Board of Governors
of the Federal Reserve System, in consultation with the Comptroller
of the Currency, the Chairman of the Federal Deposit Insurance
Corporation, the Director of the Office of Thrift Supervision, and
the Chairman of the National Credit Union Administration, shall
submit a report to the Congress comparing residential, small
business, and commercial lending by insured depository institutions
in low-income, minority, and distressed neighborhoods to such
lending in other neighborhoods.
"(b) Contents of Report. - The report required by subsection (a)
shall -
"(1) compare the risks and returns of lending in low-income,
minority, and distressed neighborhoods with the risks and returns
of lending in other neighborhoods;
"(2) analyze the reasons for any differences in risk and return
between low-income, minority, and distressed neighborhoods and
other neighborhoods; and
"(3) if the risks of lending in low-income, minority, and
distressed neighborhoods exceed the risks of lending in other
neighborhoods, recommend ways of mitigating those risks."