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Can you summarize 12 CFR Part 25?
COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY > COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT PRODUCTION REGULATIONS
Short Summary
The provided legal document governs the Community Reinvestment Act (CRA) and Interstate Deposit Production Regulations. It applies to banks, savings associations, national banks, Federal savings associations, State savings associations, insured Federal branches, and Federal branches resulting from specified acquisitions. However, it does not apply to special purpose banks or special purpose savings associations that do not perform commercial or retail banking services, limited Federal branches, and Federal agencies. The document establishes the framework and criteria for assessing an institution’s record of meeting the credit needs of its community, including low- and moderate-income neighborhoods. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) enforce these regulations for different types of institutions. The document also clarifies the references to appropriate Federal banking agencies based on the type of institution. Overall, the document aims to carry out the purposes of the CRA by promoting community reinvestment and considering an institution’s record in evaluating certain applications. This document provides definitions for various terms used in subparts A, B, C, and D, and appendices A and B of the Community Reinvestment Act and Interstate Deposit Production Regulations. It applies to banks, savings associations, and their affiliates. The document defines terms such as ‘affiliate’, ‘area median income’, ‘assessment area’, ‘automated teller machine (ATM)’, ‘bank or savings association’, ‘branch’, ‘community development’, ‘community development loan’, ‘community development service’, ‘consumer loan’, ‘geography’, ‘home mortgage loan’, ‘income level’, ’limited purpose bank or savings association’, ’loan location’, ’loan production office’, ‘metropolitan division’, ‘MSA’, ’nonmetropolitan area’, ‘qualified investment’, ‘small bank or savings association’, ‘small business loan’, ‘small farm loan’, and ‘wholesale bank or savings association’. No exemptions or penalties are mentioned in this document.
Whom does it apply to?
Banks, savings associations, national banks, Federal savings associations, State savings associations, insured Federal branches, and Federal branches resulting from specified acquisitions
What does it govern?
Community Reinvestment Act (CRA) and Interstate Deposit Production Regulations
What are exemptions?
Special purpose banks or special purpose savings associations that do not perform commercial or retail banking services, limited Federal branches, and Federal agencies
What are the Penalties?
No specific penalties mentioned
Jurisdiction
U.S. Federal Government