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scottw · 09-21-2008, 04:53 PM

couldn't fit it all

SEC. 808. OPERATION OF BRANCH FACILITIES BY MINORITIES AND WOMEN.

(a) IN GENERAL.--In the case of any depository institution which donates, sells on favorable terms (as determined by the appropriate Federal financial supervisory agency), or makes available on a rent-free basis any branch of such institution which is located in any predominantly minority neighborhood to any minority depository institution or women's depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity may be a factor in determining whether the depository institution is meeting the credit needs of the institution's community for purposes of this title.
(b) DEFINITIONS.--For purposes of this section--
(1) MINORITY DEPOSITORY INSTITUTION.--The term "minority institution" means a depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)--
(A) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and
(B) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals.
(2) WOMEN'S DEPOSITORY INSTITUTION.--The term "women's depository institution" means a depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)--
(A) more than 50 percent of the ownership or control of which is held by 1 or more women;
(B) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and
(C) a significant percentage of senior management positions of which are held by women.
(3) MINORITY.--The term "minority" has the meaning given to such term by section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.
SEC. 809. SMALL BANK REGULATORY RELIEF.

(a) IN GENERAL.--Except as provided in subsections (b) and (c), any regulated financial institution with aggregate assets of not more than $250,000,000 shall be subject to routine examination under this title--
{{8-31-00 p.6988.30}}
(1) not more than once every 60 months for an institution that has achieved a rating of "outstanding record of meeting community credit needs" at its most recent examination under section 804;
(2) not more than once every 48 months for an institution that has received a rating of "satisfactory record of meeting community credit needs" at its most recent examination under section 804; and
(3) as deemed necessary by the appropriate Federal financial supervisory agency, for an institution that has received a rating of less than "satisfactory record of meeting community credit needs" at its most recent examination under section 804.
(b) No Exception From CRA Examinations in Connection With Applications for Deposit Facilities.--A regulated financial institution described in subsection (a) shall remain subject to examination under this title in connection with an application for a deposit facility.
(c) DISCRETION.--A regulated financial institution described in subsection (a) may be subject to more frequent or less frequent examinations for reasonable cause under such circumstances as may be determined by the appropriate Federal financial supervisory agency.
COMPETITIVE EQUALITY BANKING ACT OF 1987
TITLE XII—MISCELLANEOUS PROVISIONS
SEC. 1204. ADJUSTABLE RATE MORTGAGE CAPS.

(a) IN GENERAL.--Any adjustable rate mortgage loan originated by a creditor shall include a limitation on the maximum interest rate that may apply during the term of the mortgage loan.
(b) REGULATIONS.--The Board of Governors of the Federal Reserve System shall prescribe regulations to carry out the purposes of this section.
(c) ENFORCEMENT.--Any violation of this section shall be treated as a violation of the Truth in Lending Act and shall be subject to administrative enforcement under section 108 or civil damages under section 130 of such Act, or both.
(d) DEFINITIONS.--For the purpose of this section--
(1) the term "creditor" means a person who regularly extends credit for personal, family, or household purposes; and
(2) the term "adjustable rate mortgage loan" means any loan secured by a lien on a one- to four-family dwelling unit, including a condominium unit, cooperative housing unit, or mobile home, where the loan is made pursuant to an agreement under which the creditor may, from time to time, adjust the rate of interest.
(e) EFFECTIVE DATE.--This section shall take effect upon the expiration of 120 days after the date of enactment of this Act.

09-21-2008, 04:53 PM	#52
scottw Registered User iTrader: (0) Join Date: Nov 2007 Posts: 12,632	continued couldn't fit it all SEC. 808. OPERATION OF BRANCH FACILITIES BY MINORITIES AND WOMEN. (a) IN GENERAL.--In the case of any depository institution which donates, sells on favorable terms (as determined by the appropriate Federal financial supervisory agency), or makes available on a rent-free basis any branch of such institution which is located in any predominantly minority neighborhood to any minority depository institution or women's depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity may be a factor in determining whether the depository institution is meeting the credit needs of the institution's community for purposes of this title. (b) DEFINITIONS.--For purposes of this section-- (1) MINORITY DEPOSITORY INSTITUTION.--The term "minority institution" means a depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)-- (A) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and (B) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals. (2) WOMEN'S DEPOSITORY INSTITUTION.--The term "women's depository institution" means a depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)-- (A) more than 50 percent of the ownership or control of which is held by 1 or more women; (B) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and (C) a significant percentage of senior management positions of which are held by women. (3) MINORITY.--The term "minority" has the meaning given to such term by section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989. SEC. 809. SMALL BANK REGULATORY RELIEF. (a) IN GENERAL.--Except as provided in subsections (b) and (c), any regulated financial institution with aggregate assets of not more than $250,000,000 shall be subject to routine examination under this title-- {{8-31-00 p.6988.30}} (1) not more than once every 60 months for an institution that has achieved a rating of "outstanding record of meeting community credit needs" at its most recent examination under section 804; (2) not more than once every 48 months for an institution that has received a rating of "satisfactory record of meeting community credit needs" at its most recent examination under section 804; and (3) as deemed necessary by the appropriate Federal financial supervisory agency, for an institution that has received a rating of less than "satisfactory record of meeting community credit needs" at its most recent examination under section 804. (b) No Exception From CRA Examinations in Connection With Applications for Deposit Facilities.--A regulated financial institution described in subsection (a) shall remain subject to examination under this title in connection with an application for a deposit facility. (c) DISCRETION.--A regulated financial institution described in subsection (a) may be subject to more frequent or less frequent examinations for reasonable cause under such circumstances as may be determined by the appropriate Federal financial supervisory agency. COMPETITIVE EQUALITY BANKING ACT OF 1987 TITLE XII—MISCELLANEOUS PROVISIONS SEC. 1204. ADJUSTABLE RATE MORTGAGE CAPS. (a) IN GENERAL.--Any adjustable rate mortgage loan originated by a creditor shall include a limitation on the maximum interest rate that may apply during the term of the mortgage loan. (b) REGULATIONS.--The Board of Governors of the Federal Reserve System shall prescribe regulations to carry out the purposes of this section. (c) ENFORCEMENT.--Any violation of this section shall be treated as a violation of the Truth in Lending Act and shall be subject to administrative enforcement under section 108 or civil damages under section 130 of such Act, or both. (d) DEFINITIONS.--For the purpose of this section-- (1) the term "creditor" means a person who regularly extends credit for personal, family, or household purposes; and (2) the term "adjustable rate mortgage loan" means any loan secured by a lien on a one- to four-family dwelling unit, including a condominium unit, cooperative housing unit, or mobile home, where the loan is made pursuant to an agreement under which the creditor may, from time to time, adjust the rate of interest. (e) EFFECTIVE DATE.--This section shall take effect upon the expiration of 120 days after the date of enactment of this Act.