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12 U.S.C. § 2908 — Small bank regulatory relief

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2908 — Small bank regulatory relief

**(a) In general** Except as provided in subsections (b) and (c), any regulated financial institution with aggregate assets of not more than $250,000,000 shall be subject to routine examination under this chapter— (1) not more than once every 60 months for an institution that has achieved a rating of “outstanding record of meeting community credit needs” at its most recent examination under [section 2903 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2903&num=0&edition=prelim); (2) not more than once every 48 months for an institution that has received a rating of “satisfactory record of meeting community credit needs” at its most recent examination under [section 2903 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2903&num=0&edition=prelim); and (3) as deemed necessary by the appropriate Federal financial supervisory agency, for an institution that has received a rating of less than “satisfactory record of meeting community credit needs” at its most recent examination under [section 2903 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2903&num=0&edition=prelim). **(b) No exception from CRA examinations in connection with applications for deposit facilities** A regulated financial institution described in subsection (a) shall remain subject to examination under this chapter in connection with an application for a deposit facility. **(c) Discretion** A regulated financial institution described in subsection (a) may be subject to more frequent or less frequent examinations for reasonable cause under such circumstances as may be determined by the appropriate Federal financial supervisory agency.

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Source file: Laws/federal/codes/united-states-code/title-12/section-2908-small-bank-regulatory-relief--3f48560257.md
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Source location: Title 12, Chapter 30, § 2908; chapter-030-community-reinvestment.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2903 — Financial institutions; evaluation

**(a) In general** In connection with its examination of a financial institution, the appropriate Federal financial supervisory agency shall— (1) assess the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution; and (2) take such record into account in its evaluation of an application for a deposit facility by such institution. **(b) Majority-owned institutions** In assessing and taking into account, under subsection (a), the record of a nonminority-owned and nonwomen-owned financial institution, the appropriate Federal financial supervisory agency may consider as a factor capital investment, loan participation, and other ventures undertaken by the institution in cooperation with minority- and women-owned financial institutions and low-income credit unions provided that these activities help meet the credit needs of local communities in which such institutions and credit unions are chartered. **(c) Financial holding company requirement** (1) **In general** — An election by a bank holding company to become a financial holding company under [section 1843 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1843&num=0&edition=prelim) shall not be effective if— (A) the Board finds that, as of the date the declaration of such election and the certification is filed by such holding company under section 1843(l)(1)(C) 11 See References in Text note below. of this title, not all of the subsidiary insured depository institutions of the bank holding company had achieved a rating of “satisfactory record of meeting community credit needs”, or better, at the most recent examination of each such institutio

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2908 — Small bank regulatory relief

Page 1477 TITLE 12—BANKS AND BANKING § 2908 1 So in original. Probably should be ‘‘minority depository insti- tution’’. (e) Definitions For purposes of this section the following defi- nitions shall apply: (1) Domestic branch The term ‘‘domestic branch’’ means any branch office or other facility of a regulated financial institution that accepts deposits, lo- cated in any State. (2) Metropolitan area The term ‘‘metropolitan area’’ means any primary metropolitan statistical area, metro- politan statistical area, or consolidated met- ropolitan statistical area, as defined by the Director of the Office of Management and Budget, with a population of 250,000 or more, and any other area designated as such by the appropriate Federal financial supervisory agency. (3) State The term ‘‘State’’ has the same meaning as in section 1813 of this title. (Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), Aug. 9, 1989, 103 Stat. 527; amended Pub. L. 102–242, title II, § 222, Dec. 19, 1991, 105 Stat. 2306; Pub. L. 103–328, title I, § 110, Sept. 29, 1994, 108 Stat. 2364.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsecs. (b)(1)(A)(i) and (c)(3), was in the original ‘‘this Act’’ and was translated as reading ‘‘this title’’, meaning title VIII of Pub. L. 95–128, known as the Community Reinvestment Act of 1977, to reflect the probable intent of Congress. AMENDMENTS 1994—Subsec. (b)(1). Pub. L. 103–328, § 110(b), redesig- nated existing provisions as subpar. (A) and former sub- pars. (A) to (C) as cls. (i) to (iii), respectively, of sub- par. (A), inserted subpar. (A) heading, and added sub- par. (B). Subsecs. (d), (e). Pub. L. 103–328, § 110(a), added sub- secs. (d) and (e). 1991—Subsec. (a)(1). Pub. L. 1

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