To amend the Community Reinvestment Act of 1977 to establish procedures for agency evaluation of community reinvestment performance in connection with deposit facility applications, to provide safe harbor rules with respect to investments in community development organizations, and for other purposes.
Community Reinvestment Improvement Act of 1990 - Amends the Community Reinvestment Act of 1977 to state that when a Federal banking agency evaluates the deposit facility application of an insured depository institution it must take into account its most recent evaluation of the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods.
Cites circumstances under which a satisfactory record of meeting such community credit needs will result in exemption from further assessment for a two-year period.
Prescribes guidelines for evaluating a record of meeting the credit needs of the entire community.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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