§ 2902. Definitions

Statutory text

For the purposes of this chapter—

the term “appropriate Federal financial supervisory agency” means—

the Comptroller of the Currency with respect to national banks and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation);

the Board of Governors of the Federal Reserve System with respect to State chartered banks which are members of the Federal Reserve System, bank holding companies, and savings and loan holding companies;

the Federal Deposit Insurance Corporation with respect to State chartered banks and savings banks which are not members of the Federal Reserve System and the deposits of which are insured by the Corporation, and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation).1

the term “regulated financial institution” means an insured depository institution (as defined in section 1813 of this title); and

the term “application for a deposit facility” means an application to the appropriate Federal financial supervisory agency otherwise required under Federal law or regulations thereunder for—

a charter for a national bank or Federal savings and loan association;

deposit insurance in connection with a newly chartered State bank, savings bank, savings and loan association or similar institution;

the establishment of a domestic branch or other facility with the ability to accept deposits of a regulated financial institution;

the relocation of the home office or a branch office of a regulated financial institution;

the merger or consolidation with, or the acquisition of the assets, or the assumption of the liabilities of a regulated financial institution requiring approval under section 1828(c) of this title or under regulations issued under the authority of title IV 2 of the National Housing Act [12 U.S.C. 1724 et seq.]; or

the acquisition of shares in, or the assets of, a regulated financial institution requiring approval under section 1842 of this title or section 408(e) ² of the National Housing Act [12 U.S.C. 1730a(e)].

A financial institution whose business predominately consists of serving the needs of military personnel who are not located within a defined geographic area may define its “entire community” to include its entire deposit customer base without regard to geographic proximity.

Footnotes

1 So in original. The period probably should be a semicolon.
2 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1977
Community Reinvestment Act of 1977
Pub. L. 95–128 title VIII § 803 · 91 Stat. 1111
Enacted · 12 U.S.C. § 2902
Pub. L. 95–128, title VIII, § 803, Oct. 12, 1977, 91 Stat. 1147
Source evidence
Code source credit
Pub. L. 95–128, title VIII, § 803, Oct. 12, 1977, 91 Stat. 1147
Enacted provision · exact public law section
Sec. 803. For the purposes of this title— 12 USC 2902. (1) the term “appropriate Federal financial supervisory agency” means— (A) the Comptroller of the Currency with respect to national banks; (B) the Board of Governors of the Federal Reserve System with respect to State chartered banks which are members of the Federal Reserve System and bank holding companies; (C) the Federal Deposit Insurance Corporation with respect to State chartered banks and savings banks which are not members of the Federal Reserve System and the deposits of which are insured by the Corporation; and (D) the Federal Home Loan Bank Board with respect to institutions the deposits of which are insured by the Federal Savings and Loan Insurance Corporation and to savings and loan holding companies; (2) the term “regulated financial institution” means an insured bank as defined in section 3 of the Federal Deposit Insurance Act 18 USC 709. or an insured institution as defined in section 401 of the National Housing Act; and 12 USC 1724. (3) the term “application for a deposit facility” means an application to the appropriate Federal financial supervisory agency otherwise required under Federal law or regulations thereunder for— (A) a charter for a national bank or Federal savings and loan association; (B) deposit insurance in connection with a newly chartered State bank, savings bank, savings and loan association or similar institution; (C) the establishment of a domestic branch or other facility with the ability to accept deposits of a regulated financial institution; (D) the relocation of the home office or a branch office of a regulated financial institution; (E) the merger or consolidation with, or the acquisition of the assets, or the assumption of the liabilities of a regulated financial institution requiring approval under section 12 USC 1828. 18(c) of the Federal Deposit Insurance Act or under regulations issued under the authority of title IV of the National 12 USC 1724. Housing Act; or (F) the acquisition of shares in, or the assets of, a regulated financial institution requiring approval under section 12 USC 1842. 12 USC 1730a. Financial institutions, evaluation. 12 USC 2903. 3 of the Bank Holding Company Act of 1956 or section 408 (e) of the National Housing Act.
1978
Financial Institutions Regulatory and Interest Rate Control Act of 1978
Pub. L. 95–630 title XV § 1502 · 92 Stat. 3641
Added · 12 U.S.C. § 2902(4)
Pub. L. 95–630 added par. (4)
Source evidence
Code amendment note
Par. (4). Pub. L. 95–630 added par. (4).
Enacted provision · exact public law section
Sec. 1502. Section 803 of Public Law 95–128 (12 U.S.C. 2902) is amended by adding at the end thereof the following new subsection: “(4) A financial institution whose business predominately consists “Entire community.” of serving the needs of military personnel who are not located within a defined geographic area may define its ‘entire community’ to include its entire deposit customer base without regard to geographic proximity.”.
1989
Financial Institutions Reform, Recovery, and Enforcement Act of 1989
Pub. L. 101–73 § 744(q) · 103 Stat. 183
Changed · 12 U.S.C. § 2902(1)(D)
Pub. L. 101–73, § 744(q), directed the general amendment of par. (1)(D) but then set out “(2)” followed by the text of the new provisions. Prior to amendment, par. (1)(D) read as follows: “the Federal Home Loan Bank Board with respect to institutions the deposits of which are insured by the Federal Savings and Loan Insurance Corporation and to savings and loan holding companies;”
Source evidence
Code amendment note
Par. (1)(D). Pub. L. 101–73, § 744(q), directed the general amendment of par. (1)(D) but then set out “(2)” followed by the text of the new provisions. Prior to amendment, par. (1)(D) read as follows: “the Federal Home Loan Bank Board with respect to institutions the deposits of which are insured by the Federal Savings and Loan Insurance Corporation and to savings and loan holding companies;”.
Enacted provision · exact public law section
(q) Community Reinvestment Act of 1977.— Section 803(1)(D) of the Community Reinvestment Act of 1977 (12 U.S.C. 2902(1)(D)) is amended to read as follows: “(2) section 8 of the Federal Deposit Insurance Act, by the Director of the Office of Thrift Supervision, in the case of a savings association (the deposits of which are insured by the Federal Deposit Insurance Corporation) and a savings and loan holding company;”.
1989
Financial Institutions Reform, Recovery, and Enforcement Act of 1989
Pub. L. 101–73 § 1212(a) · 103 Stat. 183
Substituted · 12 U.S.C. § 2902(2)
Pub. L. 101–73, § 1212(a), substituted “insured depository institution (as defined in section 1813 of this title)” for “insured bank as defined in section 1813 of this title or an insured institution as defined in section 401 of the National Housing Act”
Source evidence
Code amendment note
Par. (2). Pub. L. 101–73, § 1212(a), substituted “insured depository institution (as defined in section 1813 of this title)” for “insured bank as defined in section 1813 of this title or an insured institution as defined in section 401 of the National Housing Act”.
Enacted provision · exact public law section
(a) Conforming Amendment to Definition of Regulated Financial Institution.— Section 803(2) of the Community Reinvestment Act of 1977 (12 U.S.C. 2902(2)) is amended by striking out “insured bank as defined in section 3 of the Federal Deposit Insurance Act or an insured institution as defined in section 401 of the National Housing Act” and inserting in lieu thereof “insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act)”.

4 of 4 references resolved to an enrolled provision

Editorial Notes

References in Text

The National Housing Act, referred to in par. (3)(E), (F), is act June 27, 1934, ch. 847, 48 Stat. 1246. Title IV of the National Housing Act which was classified generally to subchapter IV (§ 1724 et seq.) of chapter 13 of this title, was repealed by Pub. L. 101–73, title IV, § 407, Aug. 9, 1989, 103 Stat. 363. Section 408 of the National Housing Act, which was classified to section 1730a of this title, was also repealed by section 407 of Pub. L. 101–73. For complete classification of this Act to the Code, see section 1701 of this title and Tables.

Amendments1978–1989 · 2 rounds

Par. (1)(A). Pub. L. 111–203, § 358(1)(A)(i), inserted “and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation)” after “banks”.

Par. (1)(B). Pub. L. 111–203, § 358(1)(A)(ii), substituted “, bank holding companies, and savings and loan holding companies” for “and bank holding companies”.

Par. (1)(C). Pub. L. 111–203, § 358(1)(A)(iii), substituted “, and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation).” for “; and”.

Par. (2). Pub. L. 111–203, § 358(1)(B), struck out par. (2) relating to the Director of the Office of Thrift Supervision which read as follows: “section 1818 of this title, by the Director of the Office of Thrift Supervision, in the case of a savings association (the deposits of which are insured by the Federal Deposit Insurance Corporation) and a savings and loan holding company;”.

1989

Par. (1)(D). Pub. L. 101–73, § 744(q), directed the general amendment of par. (1)(D) but then set out “(2)” followed by the text of the new provisions. Prior to amendment, par. (1)(D) read as follows: “the Federal Home Loan Bank Board with respect to institutions the deposits of which are insured by the Federal Savings and Loan Insurance Corporation and to savings and loan holding companies;”.

Par. (2). Pub. L. 101–73, § 1212(a), substituted “insured depository institution (as defined in section 1813 of this title)” for “insured bank as defined in section 1813 of this title or an insured institution as defined in section 401 of the National Housing Act”.