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12 U.S.C. § 4708 — Training
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Fund may operate a training program to increase the capacity and expertise of community development financial institutions and other members of the financial services industry to undertake community development finance activities.
**(b) Program activities** The training program shall provide educational programs to assist community development financial institutions and other members of the financial services industry in developing lending and investment products, underwriting and servicing loans, managing equity investments, and providing development services targeted to areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(c) Participation** The training program shall be made available to community development financial institutions and other members of the financial services industry that serve or seek to serve areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(d) Contracting** The Fund may offer the training program described in this section directly or through a contract with other organizations. The Fund may contract to provide the training program through organizations that possess special expertise in community development, without regard to whether the organizations receive or are eligible to receive assistance under this subchapter.
**(e) Coordination** The Fund shall coordinate with other appropriate Federal departments or agencies that operate similar training programs in order to prevent duplicative efforts.
**(f) Regulatory fee for providing training services**
(1) **General rule** — The Fund may, at the discretion of the Administrator and in accordance with this subsection, assess and collect
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Stable record: federal_law:legal_authorities:record_usc_d4ae48891a1c94ba37014a85
Source file: Laws/federal/codes/united-states-code/title-12/section-4708-training--6e7d37982f.md
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Source location: Title 12, Chapter 47, § 4708; chapter-047-community-development-banking.md
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**(a) In general** The Fund may operate a training program to increase the capacity and expertise of community development financial institutions and other members of the financial services industry to undertake community development finance activities.
**(b) Program activities** The training program shall provide educational programs to assist community development financial institutions and other members of the financial services industry in developing lending and investment products, underwriting and servicing loans, managing equity investments, and providing development services targeted to areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(c) Participation** The training program shall be made available to community development financial institutions and other members of the financial services industry that serve or seek to serve areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(d) Contracting** The Fund may offer the training program described in this section directly or through a contract with other organizations. The Fund may contract to provide the training program through organizations that possess special expertise in community development, without regard to whether the organizations receive or are eligible to receive assistance under this subchapter.
**(e) Coordination** The Fund shall coordinate with other appropriate Federal departments or agencies that operate similar training programs in order to prevent duplicative efforts.
**(f) Regulatory fee for providing training services**
(1) **General rule** — The Fund may, at the discretion of the Administrator and in accordance with this subsection, assess and collect regulatory fees solely to cover the costs of the Fund in providing training services under a training program operated in accordance with this section.
(2) **Persons subject to fee** — Fees may be assessed under paragraph (1) only on persons who participate in the training program.
(3) **Limitation on manner of collection** — Fees may be assessed and collected under this subsection only in such manner as may reasonably be expected to result in the collection of an aggregate amount of fees during any fiscal year which does not exceed the aggregate costs of the Fund for such year in providing training services under a training program operated in accordance with this section 11 So in original. Probably should be followed by a period.
(4) **Limitation on amount of fee** — The amount of any fee assessed under this subsection on any person may not exceed the amount which is reasonably based on the proportion of the training services provided under a training program operated in accordance with this section which relate to such person.
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Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter, the following definitions shall apply:
(1) **Administrator** — The term “Administrator” means the Administrator of the Fund appointed under [section 4703(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/b&num=0&edition=prelim).
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency” has the same meaning as in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim), and also includes the National Credit Union Administration Board with respect to insured credit unions.
(3) **Affiliate** — The term “affiliate” has the same meaning as in [section 1841(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/k&num=0&edition=prelim).
(4) **Board** — The term “Board” means the Community Development Advisory Board established under [section 4703(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/d&num=0&edition=prelim).
(5) **Community development financial institution**
(A) *In general* — The term “community development financial institution” means a person (other than an individual) that—
(i) has a primary mission of promoting community development;
(ii) serves an investment area or targeted population;
(iii) provides development services in conjunction with equity investments or loans, directly or through a subsidiary or affiliate;
(iv) maintains, through representation on its governing board or otherwise, accountability to residents of its investment area or targeted population; and
(v) is not an agency or instrumentality of the United States, or of any State or
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4702
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Fund authorization**
(1) **In general** — To carry out this subchapter, there are authorized to be appropriated to the Fund, to remain available until expended—
(A) $60,000,000 for fiscal year 1995;
(B) $104,000,000 for fiscal year 1996;
(C) $107,000,000 for fiscal year 1997; and
(D) $111,000,000 for fiscal year 1998;
or such greater sums as may be necessary to carry out this subchapter.
(2) **Administrative expenses**
(A) *In general* — Of amounts authorized to be appropriated to the Fund pursuant to this section, not more than $5,550,000 may be used by the Fund in each fiscal year to pay the administrative costs and expenses of the Fund. Costs associated with the training program established under [section 4708 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4708&num=0&edition=prelim) and the technical assistance program established under [section 4707 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4707&num=0&edition=prelim) shall not be considered to be administrative expenses for purposes of this paragraph.
(B) *Calculations* — The amounts referred to in paragraphs (3) and (4) shall be calculated after subtracting the amount referred to in subparagraph (A) of this paragraph from the total amount appropriated to the Fund in accordance with paragraph (1) in any fiscal year.
(3) **Capitalization assistance** — Not more than 5 percent of the amounts authorized to be appropriated under paragraph (1) may be used as provided in [section 4712 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4712&num=0&edition=prelim).
(4) **Availability for funding [section 4713 of this title](https://uscode.house.gov/view.xhtml?req=g
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4718
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Federal law — U.S. Code and appendices · legal_authorities
Page 1738
TITLE 12—BANKS AND BANKING
§ 4708
(A) ensure, to the maximum extent prac-
ticable, that each community development
financial institution (other than an insured
community development financial institu-
tion or depository institution holding com-
pany) assisted under this subchapter is fi-
nancially and managerially sound and main-
tains appropriate internal controls;
(B) require such institution to submit, not
less than once during each 18-month period,
a statement of financial condition audited
by an independent certified public account-
ant as part of the report required by section
4714(e)(1) of this title; and
(C) require that all assistance granted
under this section is used by the community
development financial institution or com-
munity development partnership in a man-
ner consistent with the purposes of this sub-
chapter.
(2) Assistance agreement
(A) In general
Before providing any assistance under this
subchapter, the Fund and each community
development financial institution to be as-
sisted shall enter into an agreement that re-
quires the institution to comply with per-
formance goals and abide by other terms and
conditions pertinent to assistance received
under this subchapter.
(B) Performance goals
Performance goals shall be negotiated be-
tween the Fund and each community devel-
opment financial institution receiving as-
sistance based upon the strategic plan sub-
mitted pursuant to section 4704(b)(2) of this
title. Such goals may be modified with the
consent of the parties, or as provided in sub-
paragraph (C). Performance goals for insured
community development financial institu-
tions shall be determined in consultation
with the appropriate Federal banking agen-
cy.
(C) Sanctions
The agreement shall provide that, in th
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4708
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