A bill to amend the Community Reinvestment Act of 1977 to require written evaluations.

Summary

Amends the Community Reinvestment Act of 1977 to require that, upon conclusion of each examination of a financial institution, the appropriate Federal financial supervisory agency prepare a written evaluation of the institution's record of meeting the credit needs of its community, including low- and moderate-income neighborhoods. Requires that such evaluation have a public and confidential section and that it place special emphasis on the institution's record of serving the housing needs of low- and moderate-income persons, small business credit needs, and small farm credit needs. Mandates that the confidential section contain statements which, in the judgment of the Federal supervisory agency, are not properly subject to disclosure to the institution or to the public. Prohibits disclosure of the confidential section to the institution or the public unless the supervisory agency determines that such disclosure is in the public interest.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 May 1989

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 3 May 1989

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 6 June 1989

   Committee

   Subcommittee on Consumer and Regulatory Affairs. Hearings held.

   Source: Committee

4. 7 June 1989

   Committee

   Subcommittee on Consumer and Regulatory Affairs. Hearings concluded. Hearings printed: S.Hrg. 101-471.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · undated · Official file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 3 May 1989

  Open at official source

Sponsors

• Sen. Metzenbaum, Howard M. [D-OH] · D · Sponsor
• · ssbk00 · Standing

Related records

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