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U.S. Code as of:
01/19/04
Section 2908. Small bank regulatory relief
(a) In general
Except as provided in subsections (b) and (c) of this section,
any regulated financial institution with aggregate assets of not
more than $250,000,000 shall be subject to routine examination
under this chapter -
(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 2903
of this title;
(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 2903 of this title; 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 2903 of this
title.
(b) No exception from CRA examinations in connection with
applications for deposit facilities
A regulated financial institution described in subsection (a) of
this section shall remain subject to examination under this chapter
in connection with an application for a deposit facility.
(c) Discretion
A regulated financial institution described in subsection (a) of
this section 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.
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