Summary: S.909 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for S.909. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/03/1989)

Amends the Community Reinvestment Act of 1977 to require that, upon conclusion of each examination of a financial institution, the appropriate Federal financial supervisory agency prepare a written evaluation of the institution's record of meeting the credit needs of its community, including low- and moderate-income neighborhoods. Requires that such evaluation have a public and confidential section and that it place special emphasis on the institution's record of serving the housing needs of low- and moderate-income persons, small business credit needs, and small farm credit needs. Mandates that the confidential section contain statements which, in the judgment of the Federal supervisory agency, are not properly subject to disclosure to the institution or to the public. Prohibits disclosure of the confidential section to the institution or the public unless the supervisory agency determines that such disclosure is in the public interest.