Federal Deposit
Insurance Corporation

[Page 23850-23851]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Proposed Rule Stage

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4162. <bullet> CRA SUNSHINE

Priority: Substantive, Nonsignificant

Legal Authority: PL 106-102

CFR Citation: Not Yet Determined

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 non-governmental 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 non-governmental entities to the appropriate federal banking
agency of the institutions containing information about the payments,
loans, and fees paid under

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the agreement, and how the non-governmental entity used the funds.

Timetable:
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Action Date FR Cite

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NPRM 05/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Community Affairs Officer, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 736-0141

RIN: 3064-AC33
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