§ 2901. Congressional findings and statement of
purpose
(a) The Congress finds that—
(1) regulated financial institutions are re-
quired by law to demonstrate that their de-
posit facilities serve the convenience and
needs of the communities in which they are
chartered to do business;
(2) the convenience and needs of commu-
nities include the need for credit services as
well as deposit services; and
(3) regulated financial institutions have con-
tinuing and affirmative obligation to help
meet the credit needs of the local commu-
nities in which they are chartered.
(b) It is the purpose of this chapter to require
each appropriate Federal financial supervisory
agency to use its authority when examining fi-
nancial institutions, to encourage such institu-
tions to help meet the credit needs of the local
communities in which they are chartered con-
sistent with the safe and sound operation of
such institutions.
(Pub. L. 95–128, title VIII, § 802, Oct. 12, 1977, 91
Stat. 1147.)
Statutory Notes and Related Subsidiaries
SHORT TITLE
Pub. L. 95–128, title VIII, § 801, Oct. 12, 1977, 91 Stat.
1147, 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, § 715, Nov. 12, 1999, 113 Stat.
1470, provided that:
‘‘(a) STUDY.—The Secretary of the Treasury, in con-
sultation 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
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Stable record: federal_law:legal_authorities:uscode2024_1a427e961ce91d033f7332c0 Source file: Laws/federal/codes/united-states-code-2024/title-12/section-2901-congressional-findings-and-statement-of--e3b34ac252.md Pages: Not recorded – Not recorded Passage SHA-256: 3d64e9c36dba7036104c8aa34e040cae38ec933661f77d4f22f8f251a2fb4138 Retained source evidence SHA-256: 892cbc6bf84ceff006ec89b0ce7008730816cfcf3fdb453ff63ef37097a0826f
Page 1473
TITLE 12—BANKS AND BANKING
§ 2902
Act are classified generally to subchapters I (§ 1702 et
seq.) and II (§ 1707 et seq.), respectively, of chapter 13 of
this title. For complete classification of this Act to the
Code, see section 1701 of this title and Tables.
AMENDMENTS
1989—Pub. L. 101–73 inserted ‘‘(or for which completed
applications are received)’’ after ‘‘approved’’.
1988—Pub. L. 100–242 inserted ‘‘(and for each mort-
gagee making mortgage loans exempted under section
2803(g) of this title)’’ after ‘‘section 2805(b) of this
title’’.
1983—Pub. L. 98–181 substituted ‘‘primary metropoli-
tan statistical area, metropolitan statistical area, or
consolidated metropolitan statistical area that is not
comprised of designated primary metropolitan statis-
tical areas’’ for ‘‘standard metropolitan statistical
areas’’ in two places.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1989 AMENDMENT
Amendment by Pub. L. 101–73 applicable to each cal-
endar year beginning after Dec. 31, 1989, see section
1211(k) of Pub. L. 101–73, set out as a note under section
2802 of this title.
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by Pub. L. 100–242 applicable to the por-
tion of calendar year 1988 that begins Aug. 19, 1988, and
to each calendar year beginning after Dec. 31, 1988, see
section 565(a)(4) of Pub. L. 100–242, as amended, set out
as a note under section 2802 of this title.
§ 2811. Repealed. Pub. L. 100–242, title V, § 565(b),
Feb. 5, 1988, 101 Stat. 1945
Section, Pub. L. 94–200, title III, § 312, as added Pub.
L. 96–399, title III, § 340(c), Oct. 8, 1980, 94 Stat. 1659;
amended Pub. L. 99–120, § 5(c), Oct. 8, 1985, 99 Stat. 504;
Pub. L. 99–156, § 5(c), Nov. 15, 1985, 99 Stat. 817; Pub. L.
99–219, § 5(c), Dec. 26, 1985, 99 Stat. 1732; Pub. L. 99–267,
§ 5(c), Mar. 27, 1986, 100 Stat. 75; Pub. L. 99–272, title III,
§ 3011(c), Apr. 7, 1986, 100 Stat. 106; Pub. L. 99–289, § 1(b),
May 2, 1986, 100 Stat. 412; Pub. L. 99–345, § 1, June 24,
1986, 100 Stat. 673; Pub. L. 99–430, Sept. 30, 1986, 100 Stat.
986; Pub. L. 100–122, § 1, Sept. 30, 1987, 101 Stat. 793; Pub.
L. 100–154, Nov. 5, 1987, 101 Stat. 890; Pub. L. 100–170,
Nov. 17, 1987, 101 Stat. 914; Pub. L. 100–179, Dec. 3, 1987,
101 Stat. 1018; Pub. L. 100–200, Dec. 21, 1987, 101 Stat.
1327, provided that authority granted by this chapter
was to expire on Mar. 15, 1988.
CHAPTER 30—COMMUNITY REINVESTMENT
Sec.
2901.
Congressional findings and statement of pur-
pose.
2902.
Definitions.
2903.
Financial institutions; evaluation.
2904.
Report to Congress.
2905.
Regulations.
2906.
Written evaluations.
2907.
Operation of branch facilities by minorities
and women.
2908.
Small bank regulatory relief.
§ 2901. Congressional findings and statement of
purpose
(a) The Congress finds that—
(1) regulated financial institutions are re-
quired by law to demonstrate that their de-
posit facilities serve the convenience and
needs of the communities in which they are
chartered to do business;
(2) the convenience and needs of commu-
nities include the need for credit services as
well as deposit services; and
(3) regulated financial institutions have con-
tinuing and affirmative obligation to help
meet the credit needs of the local commu-
nities in which they are chartered.
(b) It is the purpose of this chapter to require
each appropriate Federal financial supervisory
agency to use its authority when examining fi-
nancial institutions, to encourage such institu-
tions to help meet the credit needs of the local
communities in which they are chartered con-
sistent with the safe and sound operation of
such institutions.
(Pub. L. 95–128, title VIII, § 802, Oct. 12, 1977, 91
Stat. 1147.)
Statutory Notes and Related Subsidiaries
SHORT TITLE
Pub. L. 95–128, title VIII, § 801, Oct. 12, 1977, 91 Stat.
1147, 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, § 715, Nov. 12, 1999, 113 Stat.
1470, provided that:
‘‘(a) STUDY.—The Secretary of the Treasury, in con-
sultation 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 Ta-
bles for classification].
‘‘(b) REPORTS.—
‘‘(1) IN
GENERAL.—The Secretary of the Treasury
shall—
‘‘(A) before March 15, 2000, submit a baseline re-
port to the Congress on the study conducted pursu-
ant 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 rec-
ommendations as the Secretary determines to be ap-
propriate for administrative and legislative action
with respect to institutions covered under the Com-
munity Reinvestment Act of 1977 [12 U.S.C. 2901 et
seq.].’’
REPORT ON COMMUNITY DEVELOPMENT LENDING
Pub. L. 102–550, title IX, § 910, Oct. 28, 1992, 106 Stat.
3874, provided that not later than 12 months after Oct.
28, 1992, the Board of Governors of the Federal Reserve
System shall submit a report to Congress comparing
residential, small business, and commercial lending by
insured depository institutions in low-income, minor-
ity, and distressed neighborhoods to such lending in
other neighborhoods, with the report to contain com-
parisons of relevant risks and reasons for different
lending practices.
§ 2902. Definitions
For the purposes of this chapter—
(1) the term ‘‘appropriate Federal financial
supervisory agency’’ means—
(A) the Comptroller of the Currency with
respect to national banks and Federal sav-
ings associations (the deposits of which are
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1813. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 1813. Definitions
As used in this chapter—
(a) Definitions of bank and related terms
(1) Bank
The term ‘‘bank’’—
(A) means any national bank and State
bank, and any Federal branch and insured
branch;
(B) includes any former savings associa-
tion.
(2) State bank
The term ‘‘State bank’’ means any bank,
banking association, trust company, savings
bank, industrial bank (or similar depository
institution which the Board of Directors
finds to be operating substantially in the
same manner as an industrial bank), or
other banking institution which—
(A) is engaged in the business of receiv-
ing deposits, other than trust funds (as de-
fined in this section); and
(B) is incorporated under the laws of any
State or which is operating under the Code
of Law for the District of Columbia,
including any cooperative bank or other un-
incorporated bank the deposits of which
were insured by the Corporation on the day
before August 9, 1989.
(3) State
The term ‘‘State’’ means any State of the
United States, the District of Columbia, any
territory of the United States, Puerto Rico,
Guam, American Samoa, the Trust Territory
of the Pacific Islands, the Virgin Islands,
and the Northern Mariana Islands.
(b) Definition of savings associations and re-
lated terms
(1) Savings association
The term ‘‘savings association’’ means—
(A) any Federal savings association;
(B) any State savings association; and
Page 967
TITLE 12—BANKS AND BANKING
§ 1813
(C) any corporation (other than a bank)
that the Board of Directors and the Comp-
troller of the Currency jointly determine
to be operating in substantially the same
manner as a savings association.
(2) Federal savings association
The term ‘‘Federal savings association’’
means any Federal savings association or
Federal
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1813. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress finds that—
(1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
(2) the convenience and needs of communities include the need for credit services as well as deposit services; and
(3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
**(b)** It is the purpose of this chapter to require each appropriate Federal financial supervisory agency to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered consistent with the safe and sound operation of such institutions.