I

104TH CONGRESS

2D SESSION H. R. 3826

To amend the Community Reinvestment Act to require the reporting of

actual performance data in order to verify the availability of credit

on a nondiscriminatory basis.

IN THE HOUSE OF REPRESENTATIVES

JULY 16, 1996

Ms. WATERS introduced the following bill; which was referred to the

Committee on Banking and Financial Services

A BILL

To amend the Community Reinvestment Act to require the

reporting of actual performance data in order to verify

the availability of credit on a nondiscriminatory basis.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Women and Minority

5 Business Lending Accountability Act’’.

6 SEC. 2. REPORTING OF ACTUAL PERFORMANCE DATA.

7 (a) IN GENERAL.—The Community Reinvestment

8 Act of 1977 (12 U.S.C. 2901 et seq.) is amended by add9 ing at the end the following new section:
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1 ‘‘SEC. 809. REPORTING OF ACTUAL PERFORMANCE DATA.

2 ‘‘(a) ESTABLISHMENT REQUIRED.—The appropriate

3 Federal financial supervisory agencies shall jointly develop

4 a format for collecting data from regulated financial insti5 tutions, in connection with examinations under section

6 804, concerning such institutions’ record of meeting the

7 credit needs of their local communities, including low- and

8 moderate-income neighborhoods.

9 ‘‘(b) DATA REQUIRED.—The data required to be col10 lected under subsection (a) shall include the following:

11 ‘‘(1) SMALL BUSINESS LENDING.—

12 ‘‘(A) The aggregate number and dollar vol13 ume of loans originated, with a separate break14 out for originations to minority-owned and

15 women-owned businesses and start-up busi16 nesses.

17 ‘‘(B) The aggregate number and dollar vol18 ume of loans originated under programs admin19 istered by the Small Business Administration,

20 with a separate break-out for minority-owned

21 and women-owned businesses.

22 ‘‘(C) The aggregate number and dollar vol23 ume of small business loans originated by the

24 financial institution, compiled on the basis of

25 the racial and income characteristics in the in26 stitution’s entire community.
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1 ‘‘(2) COMMUNITY DEVELOPMENT.—

2 ‘‘(A) The number and dollar volume of

3 loans to nonprofit child care, mental health,

4 and literacy centers and to nonprofit developers

5 of affordable housing.

6 ‘‘(B) The financial institution’s participa7 tion in any community development project, in8 cluding a description of any partnerships devel9 oped with nonprofit community organizations,

10 that benefit the low- and moderate-income resi11 dents of the institution’s entire community.

12 ‘‘(3) CONSUMER LOANS.—A statistical analysis

13 of the number and dollar volume of consumer loans

14 compiled on the basis of the racial and income char15 acteristics of neighborhoods in the institution’s en16 tire community.

17 ‘‘(4) BRANCH CLOSURES.—

18 ‘‘(A) A compilation of the number of the

19 institution’s branches and other deposit facili20 ties in neighborhoods of various racial and in21 come characteristics within the institution’s

22 community.

23 ‘‘(B) An analysis of all openings and clos24 ings of branches and other deposit facilities by

25 the institution in the past 10 years in neighbor-
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1 hoods of various racial and income characteris2 tics within the institution’s community.’’.

3 (b) DATA REQUIRED IN PUBLIC SECTION OF RE4 PORT.—Section 807(b)(1)(A) of the Community Reinvest5 ment Act of 1977 (12 U.S.C. 2906(b)(1)(A)) is amend6 ed—

7 (1) by striking ‘‘and’’ at the end of clause (ii);

8 (2) by striking the period at the end of clause

9 (iii) and inserting ‘‘; and’’; and

10 (3) by adding at the end the following new

11 clause:

12 ‘‘(iv) contain the data required to be

13 collected with respect to the institution

14 pursuant to section 809.’’.

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