Title 12 — Banks and Banking
Chapter 30 — Community Reinvestment
§ 2906. Written evaluations
Statutory text
Required
In general
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.
Public and confidential sections
Each written evaluation required under paragraph (1) shall have a public section and a confidential section.
Public section of report
Findings and conclusions
Contents of written evaluation
The 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.
Metropolitan area distinctions
The information required by clauses (i) and (ii) of subparagraph (A) shall be presented separately for each metropolitan area in which a regulated depository institution maintains one or more domestic branch offices.
Assigned rating
The 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”.
Such ratings shall be disclosed to the public on and after .
Confidential section of report
Privacy of named individuals
The confidential section of the written evaluation shall contain all references that identify any customer of the institution, any employee or officer of the institution, or any person or organization that has provided information in confidence to a Federal or State financial supervisory agency.
Topics not suitable for disclosure
The confidential section shall also contain any statements obtained or made by the appropriate Federal financial supervisory agency in the course of an examination which, in the judgment of the agency, are too sensitive or speculative in nature to disclose to the institution or the public.
Disclosure to depository institution
The confidential section may be disclosed, in whole or part, to the institution, if the appropriate Federal financial supervisory agency determines that such disclosure will promote the objectives of this chapter. However, disclosure under this paragraph shall not identify a person or organization that has provided information in confidence to a Federal or State financial supervisory agency.
Institutions with interstate branches
State-by-State evaluation
In 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).
Multistate metropolitan areas
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.
Content of State level evaluation
A 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.
Definitions
For purposes of this section the following definitions shall apply:
Domestic branch
The term “domestic branch” means any branch office or other facility of a regulated financial institution that accepts deposits, located in any State.
Metropolitan area
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.
State
The term “State” has the same meaning as in section 1813 of this title.
Footnotes
- 1 So in original. Probably should be paragraph “(1)(A)(iii)”.
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.
Housing and Community Development Act of 1977
Pub. L. 95–128 title VIII § 807 · 91 Stat. 1111
Enacted · 12 U.S.C. § 2906
Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), Aug. 9, 1989, 103 Stat. 527
Source evidence
Code source credit
Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), Aug. 9, 1989, 103 Stat. 527Federal Deposit Insurance Corporation Improvement Act of 1991
Pub. L. 102–242 § 222(b)(1) · 105 Stat. 2236
Substituted · 12 U.S.C. § 2906(a)(1)
Pub. L. 102–242, § 222(b)(1), substituted “financial supervisory” for “depository institutions regulatory”
Source evidence
Code amendment note
Subsec. (a)(1). Pub. L. 102–242, § 222(b)(1), substituted “financial supervisory” for “depository institutions regulatory”.Enacted provision · exact public law section
(1) in subsection (a)(1), by striking “depository institutions regulatory agency” and inserting “financial supervisory agency”;Federal Deposit Insurance Corporation Improvement Act of 1991
Pub. L. 102–242 § 222(b)(2) · 105 Stat. 2236
Substituted · 12 U.S.C. § 2906(b)(1)(A)
Pub. L. 102–242, § 222(b)(2), substituted “financial supervisory” for “depository institutions regulatory” in two places
Source evidence
Code amendment note
Subsec. (b)(1)(A). Pub. L. 102–242, § 222(b)(2), substituted “financial supervisory” for “depository institutions regulatory” in two places.Enacted provision · exact public law section
(2) in subsection (b)(1)(A)— (A) by striking “depository institutions regulatory agency’s” and inserting “financial supervisory agency’s”; and (B) by striking “depository institutions regulatory agencies” and inserting “financial supervisory agencies”; andFederal Deposit Insurance Corporation Improvement Act of 1991
Pub. L. 102–242 § 222(a) · 105 Stat. 2236
Inserted · 12 U.S.C. § 2906(b)(1)(B)
Pub. L. 102–242, § 222(a), inserted “and data” after “facts”
Source evidence
Code amendment note
Subsec. (b)(1)(B). Pub. L. 102–242, § 222(a), inserted “and data” after “facts”.Enacted provision · exact public law section
(a) Public Sections of Community Reinvestment Act Reports.— Section 807(b)(1)(B) of the Community Reinvestment Act of 1977 (12 U.S.C. 2906(b)(1)(B)) is amended by inserting “and data” after “facts”.Federal Deposit Insurance Corporation Improvement Act of 1991
Pub. L. 102–242 § 222(b)(3) · 105 Stat. 2236
Substituted · 12 U.S.C. § 2906(c)
Pub. L. 102–242, § 222(b)(3), substituted “financial supervisory” for “depository institutions regulatory” wherever appearing
Source evidence
Code amendment note
Subsec. (c). Pub. L. 102–242, § 222(b)(3), substituted “financial supervisory” for “depository institutions regulatory” wherever appearing.Enacted provision · exact public law section
(3) in subsection (c), by striking “depository institutions regulatory agency” each place such term appears and inserting “financial supervisory agency”.Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
Pub. L. 103–328 § 110(b) · 108 Stat. 2338
Redesignated · 12 U.S.C. § 2906(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 · 12 U.S.C. § 2906(b)(1)
Pub. L. 103–328, § 110(b), inserted subpar. (A) heading
Added · 12 U.S.C. § 2906(b)(1)
Pub. L. 103–328, § 110(b), added subpar. (B)
Source evidence
Code amendment note
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).Enacted provision · exact public law section
(b) Separate Presentation.— Section 807(b)(1) of the Community Reinvestment Act of 1977 (12 U.S.C. 2906(b)(1)) is amended— (1) by redesignating subparagraphs (A) through (C) as clauses (i) through (iii), respectively; (2) striking “The public” and inserting the following: “(A) Contents of written evaluation.— The public; and (3) by adding at the end the following new subparagraph: “(B) Metropolitan area distinctions.— The information required by clauses (i) and (ii) of subparagraph (A) shall be presented separately for each metropolitan area in which a regulated depository institution maintains one or more domestic branch offices.”.Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
Pub. L. 103–328 § 110(a) · 108 Stat. 2338
Added · 12 U.S.C. § 2906(d); 12 U.S.C. § 2906(e)
Pub. L. 103–328, § 110(a), added subsecs. (d) and (e)
Source evidence
Code amendment note
Subsecs. (d), (e). Pub. L. 103–328, § 110(a), added subsecs. (d) and (e).Enacted provision · exact public law section
(a) In General.— Section 807 of the Community Reinvestment Act of 1977 (12 U.S.C. 2906) is amended by adding at the end the following new subsections: “(d) Institutions With Interstate Branches.— “(1) State-by-state evaluation.— In 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) a written evaluation of the entire institution’s record of performance under this title, as required by subsections (a),(b), and (c); and “(B) 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 title, as required by subsections (a), (b), and (c). “(2) Multtstate metropolitan areas.— 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 title, 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 evaluation.— A written evaluation prepared pursuant to paragraph (1)(B) shall— “(A) 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 “(B) describe how the Federal financial supervisory agency has performed the examination of the institution, including a list of the individual branches examined. “(e) Definitions.— For purposes of this section the following definitions shall apply: “(1) Domestic branch.— The term ‘domestic branch’ means any branch office or other facility of a regulated financial institution that accepts deposits, located in any State. “(2) Metropolitan area.— 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. “(3) State.— The term ‘State’ has the same meaning as in section 3 of the Federal Deposit Insurance Act.”.
8 of 9 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
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.
Amendments1991–1994 · 2 rounds
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.
Credits
1989–1994 · 3 acts
- 1989Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), , 103 Stat. 527
- 1991amended Pub. L. 102–242, title II, § 222, , 105 Stat. 2306
- 1994Pub. L. 103–328, title I, § 110, , 108 Stat. 2364.
Show as published
(Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), , 103 Stat. 527; amended Pub. L. 102–242, title II, § 222, , 105 Stat. 2306; Pub. L. 103–328, title I, § 110, , 108 Stat. 2364.)