 |
United States Code (Last Updated: May 24, 2014) |
 |
Title 12. BANKS AND BANKING |
|
Chapter 30. COMMUNITY REINVESTMENT |
§ 2902. Definitions
-
For the purposes of this chapter— (1) the term “appropriate Federal financial supervisory agency” means— (A) 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); (B) 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; (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 State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation). of the National Housing Act [12 U.S.C. 1724 et seq.]; or (F) 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)]. (4) 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.
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 of chapter 13 of this title, was repealed by Pub.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,
Amendments
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”.
1978—Par. (4). Pub. L. 95–630 added par. (4).
Effective Date Of Amendment
Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Amendment by Pub. L. 95–630 effective