(a) General. This part implements section 711 of the Gramm-Leach-Bliley Act (12 U.S.C. 1831y ). That section requires any nongovernmental entity or person (NGEP), insured depository institution, or affiliate of an insured depository institution that enters into a covered agreement to—
(1) Make the covered agreement available to the public and the appropriate Federal banking agency; and
(2) File an annual report with the appropriate Federal banking agency concerning the covered agreement.
(b) Scope of this part. The provisions of this part apply to—
(1) Federal savings associations and their subsidiaries;
(3) Affiliates of Federal savings associations; and
(4) NGEPs that enter into covered agreements with any company listed in paragraphs (b)(1) and (b)(2) of this section.
(c) Relation to Community Reinvestment Act. This part does not affect in any way the Community Reinvestment Act of 1977 (CRA) (12 U.S.C. 2901et seq. ), the OCC's Community Reinvestment rule at 12 CFR part 195, or the OCC's interpretations or administration of the CRA or Community Reinvestment rule.
(d) Examples.(1) The examples in this part are not exclusive. Compliance with an example, to the extent applicable, constitutes compliance with this part.
(2) Examples in a paragraph illustrate only the issue described in the paragraph and do not illustrate any other issues that may arise in this part.
Title 12 published on 2012-01-01
no entries appear in the Federal Register after this date.