Source: https://www.law.cornell.edu/uscode/text/12/2906
Timestamp: 2015-08-30 18:37:11
Document Index: 206514172

Matched Legal Cases: ['§ 2906', '§ 2906', '§ 2906', '§\u202f2906', '§\u202f807', '§\u202f1212', '§\u202f222', '§\u202f110', '§\u202f110', '§\u202f110', '§\u202f222', '§\u202f222', '§\u202f222', '§\u202f222', 'art 4', 'art 25', 'art 116', 'art 143', 'art 144', 'art 146', 'art 195', 'art 208', 'art 228', 'art 261', 'art 345', 'art 390', 'art 516', 'art 543', 'art 544', 'art 546', 'art 563']

12 U.S. Code § 2906 - Written evaluations | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 30 › § 2906 12 U.S. Code § 2906 - Written evaluations
§ 2906.
Upon the conclusion of each examination of an insured depository institution under section 2903 of this title, the appropriate Federal financial supervisory agency shall prepare a written evaluation of the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods.
(A) Contents of written evaluationThe public section of the written evaluation shall—
state the appropriate Federal financial supervisory agency’s conclusions for each assessment factor identified in the regulations prescribed by the Federal financial supervisory agencies to implement this chapter;
discuss the facts and data supporting such conclusions; and
contain the institution’s rating and a statement describing the basis for the rating.
(2) Assigned ratingThe institution’s rating referred to in paragraph (1)(C) [1] shall be 1 of the following:
“Outstanding record of meeting community credit needs”.
“Satisfactory record of meeting community credit needs”.
“Needs to improve record of meeting community credit needs”.
“Substantial noncompliance in meeting community credit needs”.
(1) State-by-State evaluationIn the case of a regulated financial institution that maintains domestic branches in 2 or more States, the appropriate Federal financial supervisory agency shall prepare—
a written evaluation of the entire institution’s record of performance under this chapter, as required by subsections (a), (b), and (c); and
for each State in which the institution maintains 1 or more domestic branches, a separate written evaluation of the institution’s record of performance within such State under this chapter, as required by subsections (a), (b), and (c).
In the case of a regulated financial institution that maintains domestic branches in 2 or more States within a multistate metropolitan area, the appropriate Federal financial supervisory agency shall prepare a separate written evaluation of the institution’s record of performance within such metropolitan area under this chapter, as required by subsections (a), (b), and (c). If the agency prepares a written evaluation pursuant to this paragraph, the scope of the written evaluation required under paragraph (1)(B) shall be adjusted accordingly.
(3) Content of State level evaluationA written evaluation prepared pursuant to paragraph (1)(B) shall—
present the information required by subparagraphs (A) and (B) of subsection (b)(1) separately for each metropolitan area in which the institution maintains 1 or more domestic branch offices and separately for the remainder of the nonmetropolitan area of the State if the institution maintains 1 or more domestic branch offices in such nonmetropolitan area; and
describe how the Federal financial supervisory agency has performed the examination of the institution, including a list of the individual branches examined.
(e) DefinitionsFor purposes of this section the following definitions shall apply:
The term “domestic branch” means any branch office or other facility of a regulated financial institution that accepts deposits, located in any State.
The term “metropolitan area” means any primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area, as defined by the Director of the Office of Management and Budget, with a population of 250,000 or more, and any other area designated as such by the appropriate Federal financial supervisory agency.
(Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), Aug. 9, 1989, 103 Stat. 527; amended Pub. L. 102–242, title II, § 222, Dec. 19, 1991, 105 Stat. 2306; Pub. L. 103–328, title I, § 110, Sept. 29, 1994, 108 Stat. 2364.)
[1]  So in original. Probably should be paragraph “(1)(A)(iii)”.
This chapter, referred to in subsecs. (b)(1)(A)(i) and (c)(3), was in the original “this Act” and was translated as reading “this title”, meaning title VIII of Pub. L. 95–128, known as the Community Reinvestment Act of 1977, to reflect the probable intent of Congress.
1994—Subsec. (b)(1). Pub. L. 103–328, § 110(b), redesignated existing provisions as subpar. (A) and former subpars. (A) to (C) as cls. (i) to (iii), respectively, of subpar. (A), inserted subpar. (A) heading, and added subpar. (B).
Subsecs. (d), (e). Pub. L. 103–328, § 110(a), added subsecs. (d) and (e).
1991—Subsec. (a)(1). Pub. L. 102–242, § 222(b)(1), substituted “financial supervisory” for “depository institutions regulatory”.
Subsec. (b)(1)(A). Pub. L. 102–242, § 222(b)(2), substituted “financial supervisory” for “depository institutions regulatory” in two places.
Subsec. (b)(1)(B). Pub. L. 102–242, § 222(a), inserted “and data” after “facts”.
Subsec. (c). Pub. L. 102–242, § 222(b)(3), substituted “financial supervisory” for “depository institutions regulatory” wherever appearing.
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.12 CFR - Banks and Banking12 CFR Part 4 - ORGANIZATION AND FUNCTIONS, AVAILABILITY AND RELEASE OF INFORMATION, CONTRACTING OUTREACH PROGRAM, POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS12 CFR Part 25 - COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT PRODUCTION REGULATIONS12 CFR Part 116 - APPLICATION PROCESSING PROCEDURES12 CFR Part 143 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION12 CFR Part 144 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—CHARTER AND BYLAWS12 CFR Part 146 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—MERGER, DISSOLUTION, REORGANIZATION, AND CONVERSION12 CFR Part 195 - COMMUNITY REINVESTMENT12 CFR Part 208 - MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H)12 CFR Part 228 - COMMUNITY REINVESTMENT (REGULATION BB)12 CFR Part 261 - RULES REGARDING AVAILABILITY OF INFORMATION12 CFR Part 345 - COMMUNITY REINVESTMENT12 CFR Part 390 - REGULATIONS TRANSFERRED FROM THE OFFICE OF THRIFT SUPERVISION12 CFR Part 516 - APPLICATION PROCESSING PROCEDURES12 CFR Part 543 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION12 CFR Part 544 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—CHARTER AND BYLAWS12 CFR Part 546 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS—MERGER, DISSOLUTION, REORGANIZATION, AND CONVERSION12 CFR Part 563e - COMMUNITY REINVESTMENT