§ 2801. — Congressional findings and declaration of purpose.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC2801]
TITLE 12--BANKS AND BANKING
CHAPTER 29--HOME MORTGAGE DISCLOSURE
Sec. 2801. Congressional findings and declaration of purpose
(a) Findings of Congress
The Congress finds that some depository institutions have sometimes
contributed to the decline of certain geographic areas by their failure
pursuant to their chartering responsibilities to provide adequate home
financing to qualified applicants on reasonable terms and conditions.
(b) Purpose of chapter
The purpose of this chapter is to provide the citizens and public
officials of the United States with sufficient information to enable
them to determine whether depository institutions are filling their
obligations to serve the housing needs of the communities and
neighborhoods in which they are located and to assist public officials
in their determination of the distribution of public sector investments
in a manner designed to improve the private investment environment.
(c) Construction of chapter
Nothing in this chapter is intended to, nor shall it be construed
to, encourage unsound lending practices or the allocation of credit.
(Pub. L. 94-200, title III, Sec. 302, Dec. 31, 1975, 89 Stat. 1125.)
Short Title
Section 301 of title III of Pub. L. 94-200 provided that: ``This
title [this chapter] may be cited as the `Home Mortgage Disclosure Act
of 1975'.''
