12 USC 2906 - Written evaluations

U.S Code last checked for updates: Nov 22, 2024

§ 2906.

Written evaluations

(a)

Required

(1)

In general

(2)

Public and confidential sections

(b)

Public section of report

(1)

Findings and conclusions

(A)

Contents of written evaluation

The public section of the written evaluation shall—

(i)

state the appropriate Federal financial supervisory agency’s conclusions for each assessment factor identified in the regulations prescribed by the Federal financial supervisory agencies to implement this chapter;

(ii)

discuss the facts and data supporting such conclusions; and

(iii)

contain the institution’s rating and a statement describing the basis for the rating.

(B)

Metropolitan area distinctions

(2)

Assigned rating

The institution’s rating referred to in paragraph (1)(C) 1

 So in original. Probably should be paragraph “(1)(A)(iii)”.

shall be 1 of the following:

(A)

“Outstanding record of meeting community credit needs”.

(B)

“Satisfactory record of meeting community credit needs”.

(C)

“Needs to improve record of meeting community credit needs”.

(D)

“Substantial noncompliance in meeting community credit needs”.

Such ratings shall be disclosed to the public on and after July 1, 1990.

(c)

Confidential section of report

(1)

Privacy of named individuals

(2)

Topics not suitable for disclosure

(3)

Disclosure to depository institution

(d)

Institutions with interstate branches

(1)

State-by-State evaluation

In the case of a regulated financial institution that maintains domestic branches in 2 or more States, the appropriate Federal financial supervisory agency shall prepare—

(A)

a written evaluation of the entire institution’s record of performance under this chapter, as required by subsections (a), (b), and (c); and

(B)

for each State in which the institution maintains 1 or more domestic branches, a separate written evaluation of the institution’s record of performance within such State under this chapter, as required by subsections (a), (b), and (c).

(2)

Multistate metropolitan areas

(3)

Content of State level evaluation

A written evaluation prepared pursuant to paragraph (1)(B) shall—

(A)

present the information required by subparagraphs (A) and (B) of subsection (b)(1) separately for each metropolitan area in which the institution maintains 1 or more domestic branch offices and separately for the remainder of the nonmetropolitan area of the State if the institution maintains 1 or more domestic branch offices in such nonmetropolitan area; and

(B)

describe how the Federal financial supervisory agency has performed the examination of the institution, including a list of the individual branches examined.

(e)

Definitions

For purposes of this section the following definitions shall apply:

(1)

Domestic branch

(2)

Metropolitan area

(3)

State

(Pub. L. 95–128, title VIII, § 807, as added Pub. L. 101–73, title XII, § 1212(b), Aug. 9, 1989, 103 Stat. 527; amended Pub. L. 102–242, title II, § 222, Dec. 19, 1991, 105 Stat. 2306; Pub. L. 103–328, title I, § 110, Sept. 29, 1994, 108 Stat. 2364.)

cite as: 12 USC 2906