12 U.S.C. § 2901 — Congressional findings and statement of purpose
submitted 49 years ago by Pub. L. 95-128 to r/title-12-BANKS-AND-BANKING · 131 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The Congress finds that—
regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
the convenience and needs of communities include the need for credit* services as well as deposit services; and
regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
It is the purpose of this chapter to require each appropriate Federal financial supervisory agency* to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered consistent with the safe and sound operation of such institutions.
Source credit: (Pub. L. 95–128, title VIII, § 802, Oct. 12, 1977, 91 Stat. 1147.)
- 1977Enacted · Pub. L. 95-128 · 91 Stat. 1147
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-128 on 1977-10-12.
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