in a Federal court or into a settlement 
agreement, premised upon a violation of 
the Fair Housing Act for the activities de-
scribed in this subparagraph; or 
‘‘(ii) if such company or affiliate has 
entered into any such consent decree or 
settlement agreement, the company or the 
affiliate is not in violation of the decree or 
settlement agreement as determined by a 
court of competent jurisdiction or the 
agency with which the decree or agreement 
was entered into.’’. 
SEC. 302. NOTICE AND PUBLIC COMMENT REQUIRED BE-
FORE ESTABLISHING A FINANCIAL HOLDING 
COMPANY. 
Paragraph (6) of section 4(k) of the Bank Holding 
Company Act of 1956 (12 U.S.C. 1843(k)) is amended 
to read as follows: 
‘‘(6) NOTICE AND OPPORTUNITY FOR COMMENT 
REQUIRED.— 
‘‘(A) IN GENERAL.—No financial holding 
company shall directly or indirectly acquire, and 
no company that becomes a financial holding 
company shall directly or indirectly acquire con-
trol of, any company in the United States, in-
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cluding through merger, consolidation, or other 
type of business combination, that is engaged in 
activities permitted under this subsection or 
subsection (n) or (o), unless— 
‘‘(i) such holding company has pro-
vided notice to the Board, not later than 
60 days prior to such proposed acquisition 
or prior to becoming a financial holding 
company, and during that time period, or 
such longer time period not exceeding an 
additional 60 days, as established by the 
Board; 
‘‘(ii) the Board has provided public 
notice and opportunity for comment for 
not less than 30 days; and 
‘‘(iii) the Board has not issued a no-
tice disapproving the proposed acquisition 
or retention. 
‘‘(B) FACTORS FOR CONSIDERATION.—In 
reviewing any prior notice filed under this para-
graph, the Board shall take into consider-
ation— 
‘‘(i) whether the company is in com-
pliance with all applicable criteria set forth 
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in subsection (b) and the provisions of sub-
section (d); 
‘‘(ii) whether the proposed combina-
tion represents an undue aggregation of 
resources; 
‘‘(iii) whether the proposed combina-
tion poses a risk to the deposit insurance 
system; 
‘‘(iv) whether the proposed combina-
tion poses a risk to State insurance guar-
anty funds; 
‘‘(v) whether the proposed combina-
tion can reasonably be expected to be in 
the best interests of depositors or policy-
holders of the respective entities; 
‘‘(vi) whether the proposed trans-
action can reasonably be expected to fur-
ther the purposes of this Act and produce 
benefits to the public; 
‘‘(vii) whether, and the extent to 
which, the proposed combination poses an 
undue risk to the stability of the financial 
system in the United States; and 
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‘‘(viii) the community reinvestment 
record of all parties to the proposed trans-
action. 
‘‘(C) 
REQUIRED
INFORMATION.—The 
Board may disapprove any prior notice filed 
under this paragraph if the company submitting 
such notice neglects, fails, or refuses to furnish 
to the Board all relevant information required 
by the Board. 
‘‘(D) SOLICITATION OF VIEWS OF OTHER 
SUPERVISORY AGENCIES.— 
‘‘(i) IN GENERAL.—Upon receiving a 
prior notice under this paragraph, in order 
to provide for the submission of their views 
and recommendations, the Board shall give 
notice of the proposal to— 
‘‘(I) 
the 
appropriate 
Federal 
banking agency of any bank involved; 
‘‘(II) the appropriate functional 
regulator of any functionally regulated 
nondepository institution (as defined 
in section 5(c)(1)(C)) involved; and 
‘‘(III) the Secretary of the Treas-
ury, the Attorney General, and the 
Federal Trade Commission. 
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‘‘(ii) TIMING.—The views and rec-
ommendations of any agency provided no-
tice under this paragraph shall be sub-
mitted to the Board not later than 30 cal-
endar days after the date on which notice 
to the agency was given, unless the Board 
determines that another shorter time pe-
riod is appropriate.’’ 
SEC. 303. PUBLIC MEETINGS FOR BANK ACQUISITIONS AND 
MERGERS. 
(a) BANK HOLDING COMPANY ACT OF 1956.—Sec-
tion 3(c)(2) of the Bank Holding Company Act of 1956 
(12 U.S.C. 1842(c)(2)) is amended— 
(1) by striking ‘‘FACTORS.—In every case’’ and 
inserting ‘‘FACTORS.— 
‘‘(A) IN GENERAL.—In every case’’; and 
(2) by adding at the end the following new sub-
paragraph: 
‘‘(B) PUBLIC MEETINGS.—In the case of 
each application for approval under this section, 
the Board shall, as necessary and on a timely 
basis, conduct public meetings in 1 or more 
areas where the Board believes, in the sole dis-
cretion of the Board, there will be a substantial 
public impact.’’. 
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(b) FEDERAL DEPOSIT INSURANCE ACT.—Section 
18(c) of the Federal Deposit Insurance Act (12 U.S.C. 
1828(c)) is amended by adding at the end the following 
new paragraph: 
‘‘(12) PUBLIC MEETINGS.—In each merger trans-
action involving 1 or more insured depository institutions, 
the responsible agency shall, as necessary and on a timely 
basis, conduct public meetings in 1 or more areas where 
the agency believes, in the sole discretion of the agency, 
there will be a substantial public impact.’’. 
(c) NATIONAL BANK CONSOLIDATION AND MERGER 
ACT.—The National Bank Consolidation and Merger Act 
(12 U.S.C. 215 et seq.) is amended by adding at the end 
the following new section: 
‘‘SEC. 6. PUBLIC MEETINGS FOR BANK CONSOLIDATIONS 
AND MERGERS. 
‘‘In each case of a consolidation or merger under this 
Act, the Comptroller shall, as necessary and on a timely 
basis, conduct public meetings in 1 or more areas where 
the Comptroller believes, in the sole discretion of the 
Comptroller, there will be a substantial public impact.’’. 
(d) HOME OWNERS’ LOAN ACT.—Section 10(e) of 
the Home Owners’ Loan Act (12 U.S.C. 1463) is amended 
by adding at the end the following new paragraph: 
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‘‘(7) PUBLIC MEETINGS FOR DEPOSITORY IN-
STITUTION ACQUISITIONS AND MERGERS.—In each 
case involving an application under this subsection, 
the Director shall, as necessary and on a timely 
basis, conduct public meetings in 1 or more areas 
where the Director believes, in the sole discretion of 
the Director, there will be a substantial public im-
pact.’’. 
SEC. 304. BRANCH CLOSURE REQUIREMENTS. 
Subsection (a) of section 42 of the Federal Deposit 
Insurance Act (12 U.S.C. 1831r–1(a)) is amended by add-
ing at the end the following new paragraphs: 
‘‘(3) PUBLIC COMMENT.—Upon receiving a no-
tice from an insured depository institution pursuant 
to paragraph (1), the appropriate Federal banking 
agency shall— 
‘‘(A) promptly initiate a 30-day period for 
receiving public comment on the proposed clos-
ing of a branch of the depository institution; 
and 
‘‘(B) provide adequate notice of such pub-
lic comment period in media of general circula-
tion or public broadcast in the area served by 
such branch. 
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‘‘(4) PUBLIC MEETING FOR DISCUSSION OF AL-
TERNATIVES.—If, during any period for public com-
ment under paragraph (3) on the proposed closing 
of a branch of the depository institution, the appro-
priate Federal banking agency soliciting such com-
ments receives a request for a public hearing on the 
proposal, the agency shall promptly schedule a pub-
lic meeting to be held at least 30 days before the 
date of the proposed closure at a convenient location 
in the vicinity of such branch so that alternatives to 
closure can be considered by all stakeholders.’’. 
SEC. 305. CRA EXAMINATION SCHEDULE FOR SMALL 
BANKS. 
Section 809(a) of the Community Reinvestment Act 
of 1977 (12 U.S.C. 2908(a)) is amended to read as fol-
lows: 
‘‘(a) IN GENERAL.—All regulated financial institu-
tions shall be examined under this title at least once in 
each 2-year period and the scheduling of regularly occur-
ring examinations may not take into account the size or 
the aggregate assets of the financial institution.’’. 
SEC. 306. CRA SUNSHINE REQUIREMENTS. 
Section 48 of the Federal Deposit Insurance Act (12 
U.S.C. 1831y) (as added by section 711 of the Gramm- 
Leach-Bliley Act) is hereby repealed. 
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SEC. 307. CONTINUING COMMUNITY REINVESTMENT RE-
QUIREMENT FOR FINANCIAL HOLDING COM-
PANIES. 
(a) IN GENERAL.—Section 4(l)(2) of the Bank Hold-
ing Company Act of 1956 (12 U.S.C. 1843(l)(2)) is 
amended— 
(1) in subparagraph (A), by inserting ‘‘or con-
tinuing’’ after ‘‘commencing’’; and 
(2) in subparagraph (B), by inserting ‘‘or main-
taining’’ after ‘‘acquiring’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.— 
(1) Paragraph (1) of section 4(m) of the Bank 
Holding 
Company 
Act 
of 
1956 
(12 
U.S.C. 
1843(m)(1)) is amended by striking ‘‘subsection 
(l)(1)’’ and inserting ‘‘paragraph (1) or (2) of sub-
section (l)’’. 
(2) Paragraph (2) of section 4(m) of the Bank 
Holding 
Company 
Act 
of 
1956 
(12 
U.S.C. 
1843(m)(2)) is amended by striking ‘‘subsection 
(l)(1)’’ and inserting ‘‘paragraphs (1) and (2) of 
subsection (l)’’. 
SEC. 308. CHANGES IN REPORTING REQUIREMENTS UNDER 
THE HOME MORTGAGE DISCLOSURE ACT OF 
1975. 
(a) PROHIBITION
ON REGULATORY EXEMPTIONS 
FROM REPORTING REQUIREMENTS.—Section 304 of the 
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Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2803) 
is amended by adding at the end the following new sub-
section: 
‘‘(n) PROHIBITION ON REGULATORY EXEMPTIONS 
FROM
REPORTING
REQUIREMENTS.—Subject to sub-
section (i)— 
‘‘(1) no provision of this title may be construed 
as authorizing the Board, the Secretary, or any 
other Federal agency to exempt any depository insti-
tution from the requirements of this title; and 
‘‘(2) any exemption from the requirements of 
this title provided in any regulation, such as the ex-
emption provided in Appendix A to part 203 of the 
Code of Federal Regulations for lending institutions 
described in section 303(2)(B) whose total dollar 
amount of purchase loans originated in any year did 
not exceed 10 percent of the total dollar amount of 
all loan originations by such institution in such year, 
shall cease to be effective as of the date of the enact-
ment of the Community Reinvestment Modernization 
Act of 2007.’’ 
(b) REPORTING OF ADDITIONAL DATA REQUIRED.— 
Section 304(b) of the Home Mortgage Disclosure Act of 
1975 (12 U.S.C. 2803(b)) is amended— 
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(1) by striking ‘‘and’’ at the end of paragraph 
(3); 
(2) by striking the period at the end of para-
graph (4) and inserting a semicolon; and 
(3) by adding at the following new paragraph: 
‘‘(5) information on loan pricing and terms, in-
cluding interest rates, bona fide discount points, 
origination fees, financing of lump sum insurance 
premium payments, balloon payment, prepayment 
penalties, loan-to-value ratios, debt-to-income ratios, 
housing payment-to-income ratios, and credit score 
information; and’’. 
(c) REPORTING ON MANUFACTURED HOME LOANS 
THAT ARE NOT TREATED BY THE DEPOSITORY INSTITU-
TION AS REAL ESTATE LOANS.— 
(1) IN GENERAL.—Section 304(b) of the Home 
Mortgage Disclosure Act of 1975 (12 U.S.C. 
2803(b)) is amended by inserting after paragraph 
(5) (as added by subsection (B) of this section) the 
following new paragraph: 
‘‘(6) the number and dollar amount of mort-
gage loans secured by manufactured homes (as de-
fined in section 603 of the National Manufactured 
Housing Construction and Safety Act of 1974).’’. 
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(2) MORTGAGE
LOAN
DEFINED
TO
INCLUDE 
MANUFACTURED HOME LOANS.—Section 303(1) of 
the Home Mortgage Disclosure Act of 1975 (12 
U.S.C. 2802(1)) is amended by inserting ‘‘or a man-
ufactured home’’ after ‘‘residential real property’’. 
(d) ENFORCEMENT POWERS FOR SECRETARY.—Sec-
tion 305 of the Home Mortgage Disclosure Act of 1975 
(12 U.S.C. 2804) is amended by inserting at the end the 
following new subsection: 
‘‘(d) AUTHORITY
TO
CARRY
OUT
SUBSECTION 
(b)(4).—For purposes of enforcing compliance with the re-
quirements of this title pursuant to subsection (b)(4)— 
‘‘(1) subsections (b) through (n) of section 8 of 
the Federal Deposit Insurance Act shall apply to de-
pository institutions described in section 303(2)(B) 
in the same manner they apply to depository institu-
tions (as defined in section 3 of the Federal Deposit 
Insurance Act); and 
‘‘(2) the Secretary shall have the same powers 
and duties under such subsections with respect to 
depository 
institutions 
described 
in 
section 
303(2)(B) as an appropriate Federal banking agen-
cy (as defined in such Act) has with respect to de-
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pository institutions (as defined in section 3 of the 
Federal Deposit Insurance Act).’’. 
Æ 
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