(Pub. L. 95–128, title VIII, § 802,Oct. 12, 1977, 91 Stat. 1147.)
Section 801 of title VIII of Pub. L. 95–128
provided that: “This title [enacting this chapter] may be cited as the ‘Community Reinvestment Act of 1977’.”
Responsiveness to Community Needs for Financial Services
Pub. L. 106–102
, title VII, § 715,Nov. 12, 1999, 113 Stat. 1470
, provided that:
“(a) Study.—The Secretary of the Treasury, in consultation with the Federal banking agencies (as defined in section 3(z) of the Federal Deposit Insurance Act [12
]), shall conduct a study of the extent to which adequate services are being provided as intended by the Community Reinvestment Act of 1977 [12
et seq.], including services in low- and moderate-income neighborhoods and for persons of modest means, as a result of the enactment of this Act [see Tables for classification].
“(1) In general.—The Secretary of the Treasury shall—
“(A) before March 15, 2000, submit a baseline report to the Congress on the study conducted pursuant to subsection (a); and
“(B) before the end of the 2-year period beginning on the date of the enactment of this Act [Nov. 12, 1999], in consultation with the Federal banking agencies, submit a final report to the Congress on the study conducted pursuant to subsection (a).
“(2) Recommendations.—The final report submitted under paragraph (1)(B) shall include such recommendations as the Secretary determines to be appropriate for administrative and legislative action with respect to institutions covered under the Community Reinvestment Act of 1977 [12
Report on Community Development Lending
Pub. L. 102–550
, title IX, § 910,Oct. 28, 1992, 106 Stat. 3874
, provided that:
“(a) In General.—Not later than 12 months after the date of enactment of this section [Oct. 28, 1992], the Board of Governors of the Federal Reserve System, in consultation with the Comptroller of the Currency, the Chairman of the Federal Deposit Insurance Corporation, the Director of the Office of Thrift Supervision, and the Chairman of the National Credit Union Administration, shall submit a report to the Congress comparing residential, small business, and commercial lending by insured depository institutions in low-income, minority, and distressed neighborhoods to such lending in other neighborhoods.
“(b) Contents of Report.—The report required by subsection (a) shall—
“(1) compare the risks and returns of lending in low-income, minority, and distressed neighborhoods with the risks and returns of lending in other neighborhoods;
“(2) analyze the reasons for any differences in risk and return between low-income, minority, and distressed neighborhoods and other neighborhoods; and
“(3) if the risks of lending in low-income, minority, and distressed neighborhoods exceed the risks of lending in other neighborhoods, recommend ways of mitigating those risks.”