H.R.5497 - Community Reinvestment Improvement Act of 1992102nd Congress (1991-1992)
|Sponsor:||Rep. McCollum, Bill [R-FL-5] (Introduced 06/25/1992)|
|Committees:||House - Banking, Finance, and Urban Affrs|
|Latest Action:||07/15/1992 Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5497 — 102nd Congress (1991-1992)All Bill Information (Except Text)
Introduced in House (06/25/1992)
Community Reinvestment Improvement Act of 1992 - Amends the Community Reinvestment Act of 1977 to set forth a modified evaluation procedure for certain mid-sized financial institutions which meet specified criteria.
Requires the appropriate financial institutions supervisory agency to: (1) conduct a compliance evaluation in connection with its examination of such institutions or every two years, whichever is more frequent; and (2) provide public notice of such evaluation upon its commencement.
Disqualifies from this Act's modified evaluation procedure for a ten-year period any institution that has intentionally submitted false information or willfully violated the requirements of this Act.
Exempts from the evaluation requirements of this Act certain small-sized regulated financial institutions.
Cites criteria under which a regulated financial institution's application for a deposit facility shall not be denied on the basis of its compliance with this Act.