Us Code § 2801 - Congressional findings and declaration of purpose
Full text of Us Code United States Code § 2801 — Congressional findings and declaration of purpose, with citation guidance and answers to common questions.
§ 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, §302, Dec. 31, 1975, 89 Stat. 1125.)
Statutory Notes and Related Subsidiaries
Short Title
Pub. L. 94–200, title III, §301, Dec. 31, 1975, 89 Stat. 1125, provided that: "This title [this chapter] may be cited as the 'Home Mortgage Disclosure Act of 1975'."
About This Section
12 U.S.C. § 2801 is part of Title 12 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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