‘‘(A) consider the record described in para-
graph (1), the overall rating of the institution 
under this section, and any improvement plans 
submitted pursuant to this section; 
‘‘(B) provide an opportunity for public 
comment for a period of not less than 60 days; 
‘‘(C) consider changes in the community 
reinvestment performance of the institution 
since the most recent rating under this section 
by the appropriate Federal financial supervisory 
agency; and 
‘‘(D) require— 
‘‘(i) a demonstration of public benefit, 
including a community benefits plan with 
measurable goals regarding increasing re-
sponsible lending and other financial prod-
ucts; 
‘‘(ii) that the institution consult with 
community-based organizations and other 
community stakeholders in developing the 
community benefits plan; and 
‘‘(iii) a public hearing for any institu-
tion that has a received a ‘need-to-improve’ 
or ‘sufficient’ grade in any individual as-
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sessment area during the most recent ex-
amination. 
‘‘(b) U.S. NONBANK MORTGAGE ORIGINATOR.—In 
connection with its examination of a U.S. nonbank mort-
gage originator, the appropriate Federal financial super-
visory agency shall perform the following: 
‘‘(1) Assess the record of the U.S. nonbank 
mortgage originator in meeting the credit or other 
financial needs of its entire community, in particular 
low-income and moderate-income people and commu-
nities and other distressed or underserved commu-
nities, consistent with the safe and sound operation 
of the U.S. nonbank mortgage originator. 
‘‘(2) Assess, as appropriate, the following activi-
ties in the assessment areas of the U.S. nonbank 
mortgage originator: 
‘‘(A) Retail lending, including home loans. 
‘‘(B) Community development services. 
‘‘(C) Community development lending and 
investments, which may include a consideration 
of— 
‘‘(i) the origination of loans and other 
efforts by the institution to assist existing 
low- and moderate-income residents to re-
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main in affordable housing in their com-
munity; 
‘‘(ii) the origination of loans by the 
institution that result in the construction, 
rehabilitation or preservation of affordable 
housing units; and 
‘‘(iii) investments in or loans to com-
munity development financial institutions 
(as defined in section 103 of the Commu-
nity Development Banking and Financial 
Institutions Act of 1994 (12 U.S.C. 
4702)), community development corpora-
tions (as defined in section 613 of the 
Community Economic Development Act of 
1981 (42 U.S.C. 9802)), and other non-
profit organizations serving the housing 
and development needs of the community. 
‘‘(3) With respect to its evaluation of an appli-
cation for a deposit facility by the U.S. nonbank 
mortgage originator— 
‘‘(A) consider the record described in para-
graph (1), the overall rating of the U.S. 
nonbank mortgage originator under this sec-
tion, and any improvement plans submitted 
pursuant to this section; 
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‘‘(B) provide an opportunity for public 
comment for a period of not less than 60 days; 
‘‘(C) consider changes in the community 
reinvestment performance of the U.S. nonbank 
mortgage originator since the most recent rat-
ing under this section by the appropriate Fed-
eral financial supervisory agency; and 
‘‘(D) require— 
‘‘(i) a demonstration that granting the 
application for a deposit facility is in the 
public interest, which shall include a sub-
mission of a community benefits plan by 
the U.S. nonbank mortgage originator to 
the appropriate Federal financial super-
visory agency; 
‘‘(ii) that the U.S. nonbank mortgage 
originator consult with community-based 
organizations and other community stake-
holders in developing the community bene-
fits plan; and 
‘‘(iii) a public hearing for any U.S. 
nonbank mortgage originator that has a 
received a ‘need-to-improve’ or ‘sufficient’ 
grade in any individual assessment area 
during the most recent examination. 
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‘‘(c) REQUIREMENTS.— 
‘‘(1) IN GENERAL.—In connection with its ex-
amination of a regulated financial institution under 
subsection (a) or (b), the appropriate Federal finan-
cial supervisory agency shall— 
‘‘(A) consider public comments received by 
the appropriate Federal financial supervisory 
agency regarding the record of the institution in 
meeting the credit or other financial needs of 
its entire community, including low- and mod-
erate-income communities; and 
‘‘(B) require an improvement plan for an 
institution that receives a rating of ‘sufficient’ 
or lower on the written evaluation of the insti-
tution, or such a rating in any individual as-
sessment area, and require the improvement 
plan to result in the reasonable likelihood that 
the institution will obtain a rating of at least 
‘satisfactory record of meeting community cred-
it or other financial needs’ in the relevant meas-
ure on the next examination. 
‘‘(2) IMPROVEMENT PLAN.— 
‘‘(A) IN GENERAL.—A regulated financial 
institution that is required to submit an im-
provement plan required under paragraph 
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(1)(B) shall submit the plan in writing to the 
appropriate Federal financial supervisory agen-
cy not later than 90 days after receiving notice 
that the regulated financial institution is re-
quired to submit the plan. 
‘‘(B) PUBLIC COMMENT.—Upon receipt of 
an improvement plan of a regulated financial 
institution required under paragraph (1)(B), 
the appropriate Federal financial supervisory 
agency shall— 
‘‘(i) make the plan available to the 
public for review and comment for a period 
of not less than 60 days; and 
‘‘(ii) require the regulated financial 
institution to revise, as appropriate, the 
improvement plan in response to the public 
comments received under the public review 
and comment period described in clause (i) 
and submit the plan to the appropriate 
Federal financial supervisory agency not 
later than 60 days after the end of that pe-
riod. 
‘‘(3) EXAMINATION
OF
CERTAIN
REGULATED 
FINANCIAL INSTITUTIONS.—In the case of a regu-
lated financial institution whose lending or other 
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