HR 5497 · 102th Congress · Finance and Financial Sector

Community Reinvestment Improvement Act of 1992

Introduced 1992-06-25· Sponsored by Rep. McCollum, Bill [R-FL-5]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1992-07-15)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (3)

3 Republicans