View all text of Subchapter I [§ 4701 - § 4719]
§ 4715. Special provisions with respect to institutions that are supervised by Federal banking agencies
(a) Consultation with appropriate agenciesThe Fund shall consult with and consider the views of the appropriate Federal banking agency prior to providing assistance under this subchapter to—
(1) an insured community development financial institution;
(2) any community development financial institution that is examined by or subject to the reporting requirements of an appropriate Federal banking agency; or
(3) any community development financial institution that has as its community partner an institution that is examined by or subject to the reporting requirements of an appropriate Federal banking agency.
(b) Requests for information, reports, or records
(1) In general
(2) Timing of response from appropriate Federal banking agency
(3) Elimination of duplicative information and reporting requirements
(4) Exception
(c) Exclusion for examination reports
(d) Sharing of information
(e) Disclosure prohibited
(f) Privilege maintained
(g) Exceptions
(h) Sanctions
(1) Notification
(2) ExceptionsThe Fund shall not impose a sanction referred to in paragraph (1) if the appropriate Federal banking agency, in writing, not later than 30 calendar days after receiving notice from the Fund—
(A) objects to the proposed sanction;
(B) determines that the sanction would—
(i) have a material adverse effect on the safety and soundness of the institution; or
(ii) impede or interfere with an enforcement action against that institution by that agency;
(C) proposes a comparable alternative action; and
(D) specifically explains—
(i) the basis for the determination under subparagraph (B) and, if appropriate, provides documentation to support the determination; and
(ii) how the alternative action suggested pursuant to subparagraph (C) would be as effective as the sanction proposed by the Fund in securing compliance with this subchapter and deterring future noncompliance.
(i) Safety and soundness considerations
(Pub. L. 103–325, title I, § 116, Sept. 23, 1994, 108 Stat. 2185.)