US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 2903

Financial institutions; evaluation

(a)

In general

In connection with its examination of a financial institution, the appropriate Federal financial supervisory agency shall—
(1)
assess the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution; and
(2)
take such record into account in its evaluation of an application for a deposit facility by such institution.
(b)

Majority-owned institutions

In assessing and taking into account, under subsection (a), the record of a nonminority-owned and nonwomen-owned financial institution, the appropriate Federal financial supervisory agency may consider as a factor capital investment, loan participation, and other ventures undertaken by the institution in cooperation with minority- and women-owned financial institutions and low-income credit unions provided that these activities help meet the credit needs of local communities in which such institutions and credit unions are chartered.

(c)

Financial holding company requirement

(1)

In general

section 1843 of this titleAn election by a bank holding company to become a financial holding company under shall not be effective if—
(A)
l1
1 See References in Text note below.
the Board finds that, as of the date the declaration of such election and the certification is filed by such holding company under section 1843()(1)(C)  of this title, not all of the subsidiary insured depository institutions of the bank holding company had achieved a rating of “satisfactory record of meeting community credit needs”, or better, at the most recent examination of each such institution; and
(B)
the Board notifies the company of such finding before the end of the 30-day period beginning on such date.
(2)

Limited exclusions for newly acquired insured depository institutions

l1Any insured depository institution acquired by a bank holding company during the 12-month period preceding the date of the submission to the Board of the declaration and certification under section 1843()(1)(C)  of this title may be excluded for purposes of paragraph (1) during the 12-month period beginning on the date of such acquisition if—
(A)
the bank holding company has submitted an affirmative plan to the appropriate Federal financial supervisory agency to take such action as may be necessary in order for such institution to achieve a rating of “satisfactory record of meeting community credit needs”, or better, at the next examination of the institution; and
(B)
the plan has been accepted by such agency.
(3)

Definitions

For purposes of this subsection, the following definitions shall apply:
(A)

Bank holding company; financial holding company

section 1841 of this titleThe terms “bank holding company” and “financial holding company” have the meanings given those terms in .

(B)

Board

The term “Board” means the Board of Governors of the Federal Reserve System.

(C)

Insured depository institution

section 1813(c) of this titleThe term “insured depository institution” has the meaning given the term in .

(d)

Low-cost education loans

In assessing and taking into account, under subsection (a), the record of a financial institution, the appropriate Federal financial supervisory agency shall consider, as a factor, low-cost education loans provided by the financial institution to low-income borrowers.

Pub. L. 95–128, title VIII, § 80491 Stat. 1148Pub. L. 102–550, title IX, § 909(1)106 Stat. 3874Pub. L. 106–102, title I, § 103(b)113 Stat. 1350Pub. L. 110–315, title X, § 1031(a)122 Stat. 3488(, , ; , , ; , , ; , , .)

Editorial Notes

References in Text

llPub. L. 111–203, title VI, § 606(a)(2)124 Stat. 1607Section 1843()(1)(C) of this title, referred to in subsec. (c)(1)(A), (2), was redesignated section 1843()(1)(D) of this title by , , .

Amendments

Pub. L. 110–3152008—Subsec. (d). added subsec. (d).

Pub. L. 106–1021999—Subsec. (c). added subsec. (c).

Pub. L. 102–5501992— designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

Statutory Notes and Related Subsidiaries

Effective Date of 1999 Amendment

Pub. L. 106–102section 161 of Pub. L. 106–102section 24 of this titleAmendment by effective 120 days after , see , set out as a note under .

Regulations

Pub. L. 110–315, title X, § 1031(b)122 Stat. 3488

12 U.S.C. 2903(d)“Not later than 1 year after the date of enactment of this Act [], each appropriate Federal financial supervisory agency shall issue rules in final form to implement section 804(d) of the Community Reinvestment Act of 1977 [], as added by this section.”
, , , provided that: