12 U.S.C. § 2811 — Repealed. Pub. L. 100–242, title V, § 565(b),

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 Repealed.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