To require agreements entered into between depository institutions and private parties relating to the Community Reinvestment Act of 1977 to be made available to the public and the appropriate Federal banking agency, to require each party to the agreement to regular report to such agency any amount received from other parties, and for other purposes.
CRA Sunshine Act of 1999 - Amends the Federal Deposit Insurance Act to mandate: (1) full disclosure to the appropriate Federal supervisory banking agency and to the public of any agreement entered into by an insured depository institution with a nongovernmental entity in connection with the Community Reinvestment Act of 1977 which involves such institution's resources; and (2) an annual report to such agency by each party to the agreement.
States that noncompliance with this Act renders the agreement nonenforceable after due notice and a reasonable period to comply.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1082)
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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