To amend the Community Reinvestment Act of 1977 to reduce onerous recordkeeping and reporting requirements for regulated financial institutions, and for other purposes.
Community Reinvestment Improvement Act of 1993 - Amends the Community Reinvestment Act of 1977 to set forth a modified evaluation procedure for certain mid-sized financial institutions which meet specified criteria.
Requires the appropriate financial institutions supervisory agency to: (1) conduct a compliance evaluation in connection with its examination of such institutions or every two years, whichever is more frequent; and (2) provide public notice of such evaluation upon its commencement.
Disqualifies from this Act's modified evaluation procedure for a ten-year period any institution that has intentionally submitted false information or willfully violated the requirements of this Act.
Exempts from the evaluation requirements of this Act certain small-sized regulated financial institutions.
Cites criteria under which a regulated financial institution's application for a deposit facility shall not be denied on the basis of its compliance with this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Referred to the Subcommittee on Consumer Credit and Insurance.
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