113 STAT. 1466 PUBLIC LAW 106-102—NOV. 12, 1999 12 USC 183 ly. "SEC. 48. CRA SUNSHINE REQUIREMENTS. " (a) PUBLIC DISCLOSURE OF AGREEMENTS.— Any agreement (as defined in subsection (e)) entered into after the date of the enactment of the Gramm-Leach-Bliley Act by an insured depository institution or affihate with a nongovernmental entity or person made pursuant to or in connection with the Community Reinvestment Act of 1977 involving funds or other resources of such insured depository institution or affiliate— "(1) shall be in its entirety fully disclosed, and the full text thereof made available to the appropriate Federal banking agency with supervisory responsibility over the insured depository institution and to the public by each party to the agreement; and "(2) shall obligate each party to comply with this section. " (b) ANNUAL REPORT OF ACTIVITY BY INSURED DEPOSITORY INSTITUTION.— Each insured depository institution or affiliate that is a party to an agreement described in subsection (a) shall report to the appropriate Federal banking agency with supervisory responsibility over the insured depository institution, not less frequently than once each year, such information as the Federal banking agency may by rule require relating to the following actions taken by the party pursuant to the agreement during the preceding 12- month period: "(1) Payments, fees, or loans made to any party to the agreement or received from any party to the agreement and the terms and conditions of the same. "(2) Aggregate data on loans, investments, and services provided by each party in its community or communities pursuant to the agreement. "(3) Such other pertinent matters as determined by regulation by the appropriate Federal banking agency with supervisory responsibility over the insured depository institution. " (c) ANNUAL REPORT OF ACTIVITY BY NONGOVERNMENTAL ENTI- TIES. — "(1) IN GENERAL. —Each nongovernmental entity or person that is not an affiliate of an insured depository institution and that is a party to an agreement described in subsection (a) shall report to the appropriate Federal banking agency with supervisory responsibility over the insured depository institution that is a party to such agreement, not less frequently than once each year, an accounting of the use of funds received pursuant to each such agreement during the preceding 12- month period. " (2) SUBMISSION TO INSURED DEPOSITORY INSTITUTION.— A nongovernmental entity or person referred to in paragraph (1) may comply with the reporting requirement in such paragraph by transmitting the report to the insured depository institution that is a party to the agreement, and such insured depository institution shall promptly transmit such report to the appropriate Federal banking agency with supervisory authority over the insured depository institution. "(3) INFORMATION TO BE INCLUDED.—The accounting referred to in paragraph (1) shall include a detailed, itemized list of the uses to which such funds have been made, including compensation, administrative expenses, travel, entertainment, consulting and professional fees paid, and such other categories, as determined by regulation by the appropriate Federal banking
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