§ 4708. — Training.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4708]
TITLE 12--BANKS AND BANKING
CHAPTER 47--COMMUNITY DEVELOPMENT BANKING
SUBCHAPTER I--COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
Sec. 4708. Training
(a) In general
The Fund may operate a training program to increase the capacity and
expertise of community development financial institutions and other
members of the financial services industry to undertake community
development finance activities.
(b) Program activities
The training program shall provide educational programs to assist
community development financial institutions and other members of the
financial services industry in developing lending and investment
products, underwriting and servicing loans, managing equity investments,
and providing development services targeted to areas of economic
distress, low-income persons, and persons who lack adequate access to
loans and equity investments.
(c) Participation
The training program shall be made available to community
development financial institutions and other members of the financial
services industry that serve or seek to serve areas of economic
distress, low-income persons, and persons who lack adequate access to
loans and equity investments.
(d) Contracting
The Fund may offer the training program described in this section
directly or through a contract with other organizations. The Fund may
contract to provide the training program through organizations that
possess special expertise in community development, without regard to
whether the organizations receive or are eligible to receive assistance
under this subchapter.
(e) Coordination
The Fund shall coordinate with other appropriate Federal departments
or agencies that operate similar training programs in order to prevent
duplicative efforts.
(f) Regulatory fee for providing training services
(1) General rule
The Fund may, at the discretion of the Administrator and in
accordance with this subsection, assess and collect regulatory fees
solely to cover the costs of the Fund in providing training services
under a training program operated in accordance with this section.
(2) Persons subject to fee
Fees may be assessed under paragraph (1) only on persons who
participate in the training program.
(3) Limitation on manner of collection
Fees may be assessed and collected under this subsection only in
such manner as may reasonably be expected to result in the
collection of an aggregate amount of fees during any fiscal year
which does not exceed the aggregate costs of the Fund for such year
in providing training services under a training program operated in
accordance with this section \1\
---------------------------------------------------------------------------
\1\ So in original. Probably should be followed by a period.
---------------------------------------------------------------------------
(4) Limitation on amount of fee
The amount of any fee assessed under this subsection on any
person may not exceed the amount which is reasonably based on the
proportion of the training services provided under a training
program operated in accordance with this section which relate to
such person.
(Pub. L. 103-325, title I, Sec. 109, Sept. 23, 1994, 108 Stat. 2176.)
Section Referred to in Other Sections
This section is referred to in sections 4702, 4711, 4718 of this
title.
