12 U.S.C. § 2807 — Report

Page 1471 TITLE 12—BANKS AND BANKING § 2808 1 See References in Text note below. Editorial Notes PRIOR PROVISIONS A prior section 2806, Pub. L. 94–200, title III, § 307, Dec. 31, 1975, 89 Stat. 1127; Pub. L. 100–628, title X, § 1087(c), Nov. 7, 1988, 102 Stat. 3280; Pub. L. 101–73, title VII, § 744(p)(3), Aug. 9, 1989, 103 Stat. 440, which related to re- search and improved methods; authorization of appro- priations; recommendations to congressional commit- tees, was repealed by Pub. L. 111–203, title X, § 1094(6), July 21, 2010, 124 Stat. 2101. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 552a of Title 5, Government Organization and Employees. § 2807. Report The Bureau, in consultation with the Sec- retary of Housing and Urban Development, shall report annually to the Congress on the utility of the requirements of section 2803(b)(4) of this title. (Pub. L. 94–200, title III, § 308, Dec. 31, 1975, 89 Stat. 1128; Pub. L. 98–181, title I [title VII, § 701(b)], Nov. 30, 1983, 97 Stat. 1266; Pub. L. 101–73, title XII, § 1211(h), Aug. 9, 1989, 103 Stat. 526; Pub. L. 111–203, title X, § 1094(1), July 21, 2010, 124 Stat. 2097.) Editorial Notes AMENDMENTS 2010—Pub. L. 111–203 substituted ‘‘Bureau’’ for ‘‘Board’’. 1989—Pub. L. 101–73 amended section generally. Prior to amendment, section read as follows: ‘‘(a) The Board, in consultation with the Secretary of Housing and Urban Development, is authorized and di- rected to carry out a study to determine the feasibility and usefulness of requiring depository institutions lo- cated outside primary metropolitan statistical areas, metropolitan statistical areas, or consolidated metro- politan statistical areas that are not comprised of des- ignated primary metropolitan statistical areas, as de- fined by the Office of Management and Budget, to make disclosures comparable to those required by this chap- ter. ‘‘(b) A report on the study under this section shall be transmitted to the Congress not later than three years after December 31, 1975.’’ 1983—Subsec. (a). Pub. L. 98–181 substituted ‘‘primary metropolitan statistical areas, metropolitan statistical areas, or consolidated metropolitan statistical areas that are not comprised of designated primary metro- politan statistical areas’’ for ‘‘standard metropolitan statistical areas’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the des- ignated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees. 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. § 2808. Effective date (a) In general This chapter shall take effect on the one hun- dred and eightieth day beginning after Decem- ber 31, 1975. Any institution specified in section 2802(2)(A) 1 of this title which has total assets as of its last full fiscal year of $10,000,000 or less is exempt from the provisions of this chapter. The Bureau, in consultation with the Secretary, may exempt institutions described in section 2802(2)(B) 1 of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence (as determined without regard to the adjust- ment made by subsection (b)). (b) CPI adjustments (1) In general Subject to paragraph (2), the dollar amount applicable with respect to institutions de- scribed in section 2802(2)(A) 1 of this title under the 2d sentence of subsection (a) shall be ad- justed annually after December 31, 1996, by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Cler- ical Workers published by the Bureau of Labor Statistics. (2) 1-time adjustment for prior inflation The first adjustment made under paragraph (1) after September 30, 1996, shall be the per- centage by which— (A) the Consumer Price Index described in such paragraph for the calendar year 1996, exceeds (B) such Consumer Price Index for the cal- endar year 1975. (3) Rounding The dollar amount applicable under para- graph (1) for any calendar year shall be the amount determined in accordance with sub- paragraphs (A) and (B) of paragraph (2) and rounded to the nearest multiple of $1,000,000. (Pub. L. 94–200, title III, § 309, Dec. 31, 1975, 89 Stat. 1128; Pub. L. 102–242, title II, § 224(a), Dec. 19, 1991, 105 Stat. 2307; Pub. L. 102–550, title XVI, § 1604(a)(15), Oct. 28, 1992, 106 Stat. 4083; Pub. L. 104–208, div. A, title II, § 2225(a), Sept. 30, 1996, 110 Stat. 3009–415; Pub. L. 111–203, title X, § 1094(1), July 21, 2010, 124 Stat. 2097.) Editorial Notes REFERENCES IN TEXT Section 2802(2) of this title, referred to in subsecs. (a) and (b)(1), was redesignated section 2802(3) of this title by Pub. L. 111–203, title X, § 1094(2)(A), July 21, 2010, 124 Stat. 2097. AMENDMENTS 2010—Subsec. (a). Pub. L. 111–203 substituted ‘‘Bu- reau’’ for ‘‘Board’’. 1996—Pub. L. 104–208 designated existing provisions as subsec. (a), inserted heading, inserted ‘‘(as determined without regard to the adjustment made by subsection (b))’’ before period at end, and added subsec. (b). 1992—Pub. L. 102–550, § 1604(a)(15), amended directory language of Pub. L. 102–242, § 224(a). See 1991 Amend- ment note below.