§ 2908. — Small bank regulatory relief.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC2908]
TITLE 12--BANKS AND BANKING
CHAPTER 30--COMMUNITY REINVESTMENT
Sec. 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.
(Pub. L. 95-128, title VIII, Sec. 809, as added Pub. L. 106-102, title
VII, Sec. 712, Nov. 12, 1999, 113 Stat. 1469.)
