12 U.S. Code § 4702 - Definitions
For purposes of this subchapter, the following definitions shall apply:
(2) Appropriate Federal banking agency
The term “appropriate Federal banking agency” has the same meaning as in section 1813 of this title, and also includes the National Credit Union Administration Board with respect to insured credit unions.
(5) Community development financial institution
(A) In general
The term “community development financial institution” means a person (other than an individual) that—
(iii) provides development services in conjunction with equity investments or loans, directly or through a subsidiary or affiliate;
(iv) maintains, through representation on its governing board or otherwise, accountability to residents of its investment area or targeted population; and
(B) Conditions for qualification of holding companies
(i) Consolidated treatment A depository institution holding company may qualify as a community development financial institution only if the holding company and the subsidiaries and affiliates of the holding company collectively satisfy the requirements of subparagraph (A).
(ii) Exclusion of subsidiary or affiliate for failure to meet consolidated treatment rule No subsidiary or affiliate of a depository institution holding company may qualify as a community development financial institution if the holding company and the subsidiaries and affiliates of the holding company do not collectively meet the requirements of subparagraph (A).
(6) Community partner
The term “community partner” means a person (other than an individual) that provides loans, equity investments, or development services, including a depository institution holding company, an insured depository institution, an insured credit union, a nonprofit organization, a State or local government agency, a quasi-governmental entity, and an investment company authorized to operate pursuant to the Small Business Investment Act of 1958 [15 U.S.C. 661 et seq.].
(7) Community partnership
The term “community partnership” means an agreement between a community development financial institution and a community partner to provide development services, loans, or equity investments, to an investment area or targeted population.
(8) Depository institution holding company
The term “depository institution holding company” has the same meaning as in section 1813 of this title.
(9) Development services
The term “development services” means activities that promote community development and are integral to lending or investment activities, including—
(11) Indian reservation
The term “Indian reservation” has the same meaning as in section 1903 (10) of title 25, and shall include land held by incorporated Native groups, regional corporations, and village corporations, as defined in or established pursuant to the Alaska Native Claims Settlement Act [43 U.S.C. 1601 et seq.], public domain Indian allotments, and former Indian reservations in the State of Oklahoma.
(12) Indian tribe
The term “Indian tribe” means any Indian tribe, band, pueblo, nation, or other organized group or community, including any Alaska Native village or regional or village corporation, as defined in or established pursuant to the Alaska Native Claims Settlement Act [43 U.S.C. 1601 et seq.], which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians.
(13) Insured community development financial institution
The term “insured community development financial institution” means any community development financial institution that is an insured depository institution or an insured credit union.
(14) Insured credit union
(15) Insured depository institution
The term “insured depository institution” has the same meaning as in section 1813 of this title.
(16) Investment area
The term “investment area” means a geographic area (or areas) including an Indian reservation that—
(i) meets objective criteria of economic distress developed by the Fund, which may include the percentage of low-income families or the extent of poverty, the rate of unemployment or underemployment, rural population outmigration, lag in population growth, and extent of blight and disinvestment; and
The term “low-income” means having an income, adjusted for family size, of not more than—
The term “State” has the same meaning as in section 1813 of this title.
The term “subsidiary” has the same meaning as in section 1813 of this title, except that a community development financial institution that is a corporation shall not be considered to be a subsidiary of any insured depository institution or depository institution holding company that controls less than 25 percent of any class of the voting shares of such corporation, and does not otherwise control in any manner the election of a majority of the directors of the corporation.
(20) Targeted population
The term “targeted population” means individuals, or an identifiable group of individuals, including an Indian tribe, who—
(21) Training program
The term “training program” means the training program operated by the Fund under section 4708 of this title.
Source(Pub. L. 103–325, title I, § 103,Sept. 23, 1994, 108 Stat. 2163.)
References in Text
The Small Business Investment Act of 1958, referred to in par. (6), is Pub. L. 85–699, Aug. 21, 1958, 72 Stat. 689, as amended, which is classified principally to chapter 14B (§ 661 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 661 of Title 15 and Tables.
The Alaska Native Claims Settlement Act, referred to in pars. (11) and (12), is Pub. L. 92–203, Dec. 18, 1971, 85 Stat. 688, as amended, which is classified generally to chapter 33 (§ 1601 et seq.) of Title 43, Public Lands. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 43 and Tables.
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