Federal Deposit
Insurance Corporation

[Page 74909]

Federal Deposit Insurance Corporation (FDIC) Final Rule Stage

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4613. DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS

Priority: Substantive, Nonsignificant

Legal Authority: PL 106-102

CFR Citation: 12 CFR 346

Legal Deadline: None

Abstract: This rulemaking implements the requirements of section 711 of
the Gramm-Leach-Bliley Act. Section 711 requires an insured depository
institution to disclose any agreement with nongovernmental entities in
connection with the CRA, if the agreement involves a grant of more than
$10,000 or a loan of more than $50,000 to the community group annually.
In addition, annual reports must be made by the depository institutions
and the nongovernmental entities to the appropriate Federal banking
agency of the institutions containing information about the payments,
loans, and fees paid under the agreement, and how the nongovernmental
entity used the funds.

Timetable:
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Action Date FR Cite

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NPRM 05/19/00
NPRM Comment Period End 07/21/00
Final Action 01/00/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Senior Policy Analyst, Federal Deposit
Insurance Corporation, Washington, DC 20429
Phone: 202 942-3366