Us Code § 2908 - Small bank regulatory relief
Full text of Us Code United States Code § 2908 — Small bank regulatory relief, with citation guidance and answers to common questions.
§ 2908. Small bank regulatory relief
(a) In general
Except as provided in subsections (b) and (c), 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) 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) 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, §809, as added Pub. L. 106–102, title VII, §712, Nov. 12, 1999, 113 Stat. 1469.)
CHAPTER 31—NATIONAL CONSUMER COOPERATIVE BANK
SUBCHAPTER I—ESTABLISHMENT AND OPERATION
SUBCHAPTER II—OFFICE OF SELF-HELP DEVELOPMENT AND TECHNICAL ASSISTANCE
About This Section
12 U.S.C. § 2908 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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