|
U.S. Code as of:
01/19/04
Section 2906. Written evaluations
(a) Required
(1) In general
Upon the conclusion of each examination of an insured
depository institution under section 2903 of this title, the
appropriate Federal financial supervisory agency shall prepare a
written evaluation of the institution's record of meeting the
credit needs of its entire community, including low- and
moderate-income neighborhoods.
(2) Public and confidential sections
Each written evaluation required under paragraph (1) shall have
a public section and a confidential section.
(b) Public section of report
(1) Findings and conclusions
(A) Contents of written evaluation
The public section of the written evaluation shall -
(i) state the appropriate Federal financial supervisory
agency's conclusions for each assessment factor identified in
the regulations prescribed by the Federal financial
supervisory agencies to implement this chapter;
(ii) discuss the facts and data supporting such
conclusions; and
(iii) contain the institution's rating and a statement
describing the basis for the rating.
(B) Metropolitan area distinctions
The information required by clauses (i) and (ii) of
subparagraph (A) shall be presented separately for each
metropolitan area in which a regulated depository institution
maintains one or more domestic branch offices.
(2) Assigned rating
The institution's rating referred to in paragraph (1)(C) (!1)
shall be 1 of the following:
(A) "Outstanding record of meeting community credit needs".
(B) "Satisfactory record of meeting community credit needs".
(C) "Needs to improve record of meeting community credit
needs".
(D) "Substantial noncompliance in meeting community credit
needs".
Such ratings shall be disclosed to the public on and after July
1, 1990.
(c) Confidential section of report
(1) Privacy of named individuals
The confidential section of the written evaluation shall
contain all references that identify any customer of the
institution, any employee or officer of the institution, or any
person or organization that has provided information in
confidence to a Federal or State financial supervisory agency.
(2) Topics not suitable for disclosure
The confidential section shall also contain any statements
obtained or made by the appropriate Federal financial supervisory
agency in the course of an examination which, in the judgment of
the agency, are too sensitive or speculative in nature to
disclose to the institution or the public.
(3) Disclosure to depository institution
The confidential section may be disclosed, in whole or part, to
the institution, if the appropriate Federal financial supervisory
agency determines that such disclosure will promote the
objectives of this chapter. However, disclosure under this
paragraph shall not identify a person or organization that has
provided information in confidence to a Federal or State
financial supervisory agency.
(d) Institutions with interstate branches
(1) State-by-State evaluation
In the case of a regulated financial institution that maintains
domestic branches in 2 or more States, the appropriate Federal
financial supervisory agency shall prepare -
(A) a written evaluation of the entire institution's record
of performance under this chapter, as required by subsections
(a), (b), and (c) of this section; and
(B) for each State in which the institution maintains 1 or
more domestic branches, a separate written evaluation of the
institution's record of performance within such State under
this chapter, as required by subsections (a), (b), and (c) of
this section.
(2) Multistate metropolitan areas
In the case of a regulated financial institution that maintains
domestic branches in 2 or more States within a multistate
metropolitan area, the appropriate Federal financial supervisory
agency shall prepare a separate written evaluation of the
institution's record of performance within such metropolitan area
under this chapter, as required by subsections (a), (b), and (c)
of this section. If the agency prepares a written evaluation
pursuant to this paragraph, the scope of the written evaluation
required under paragraph (1)(B) shall be adjusted accordingly.
(3) Content of State level evaluation
A written evaluation prepared pursuant to paragraph (1)(B)
shall -
(A) present the information required by subparagraphs (A) and
(B) of subsection (b)(1) of this section separately for each
metropolitan area in which the institution maintains 1 or more
domestic branch offices and separately for the remainder of the
nonmetropolitan area of the State if the institution maintains
1 or more domestic branch offices in such nonmetropolitan area;
and
(B) describe how the Federal financial supervisory agency has
performed the examination of the institution, including a list
of the individual branches examined.
(e) Definitions
For purposes of this section the following definitions shall
apply:
(1) Domestic branch
The term "domestic branch" means any branch office or other
facility of a regulated financial institution that accepts
deposits, located in any State.
(2) Metropolitan area
The term "metropolitan area" means any primary metropolitan
statistical area, metropolitan statistical area, or consolidated
metropolitan statistical area, as defined by the Director of the
Office of Management and Budget, with a population of 250,000 or
more, and any other area designated as such by the appropriate
Federal financial supervisory agency.
(3) State
The term "State" has the same meaning as in section 1813 of
this title.
|
|