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U.S. Code as of:
01/19/04
Section 4714. Recordkeeping
(a) In general
A community development financial institution receiving
assistance from the Fund shall keep such records, for such periods
as may be prescribed by the Fund and necessary to disclose the
manner in which any assistance under this subchapter is used and to
demonstrate compliance with the requirements of this subchapter.
(b) User profile information
The Fund shall require each community development financial
institution or other organization receiving assistance from the
Fund to compile such data, as is determined to be appropriate by
the Fund, on the gender, race, ethnicity, national origin, or other
pertinent information concerning individuals that utilize the
services of the assisted institution to ensure that targeted
populations and low-income residents of investment areas are
adequately served.
(c) Access to records
The Fund shall have access on demand, for the purpose of
determining compliance with this subchapter, to any records of a
community development financial institution or other organization
that receives assistance from the Fund.
(d) Review
Not less than annually, the Fund shall review the progress of
each assisted community development financial institution in
carrying out its strategic plan, meeting its performance goals, and
satisfying the terms and conditions of its assistance agreement.
(e) Reporting
(1) Annual reports
The Fund shall require each community development financial
institution receiving assistance under this subchapter to submit
an annual report to the Fund on its activities, its financial
condition, and its success in meeting performance goals, in
satisfying the terms and conditions of its assistance agreement,
and in complying with other requirements of this subchapter, in
such form and manner as the Fund shall specify.
(2) Availability of reports
The Fund, after deleting or redacting any material as
appropriate to protect privacy or proprietary interests, shall
make such reports submitted under paragraph (1) available for
public inspection.
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