Page:United States Statutes at Large Volume 103 Part 1.djvu/555

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PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 527 an insured institution as defined in section 401 of the National Housing Act" and inserting in lieu thereof "insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act)". (b) EXAMINATION IBO»ROVEMKNT.—The Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) is amended by adding at the end the following new section: "SEC. 807. WRITTEN EVALUATIONS. 12 USC 2906. "(a) REQUIRED.— "(1) IN GENERAL. — Upon the conclusion of each examination Disadvantaged of an insured depository institution under section 804, the persons. appropriate Federal depository institutions r^fulatory agency shall prepare a written evaluation of the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. "(2) PuBuc AND coNFmENTiAL SEC?noNS.— Each written evaluation required under paragraph (1) shall have a public section and a confidential section. "(b) PuBuc SECTION OF REPORT.— "(1) FINDINGS AND CONCLUSIONS.— The public section of the written evaluation shall— "(A) state the appropriate Federal depository institutions r^ulatory agency's conclusions for each assessment factor identified in the r^ulations prescribed by the Federal depository institutions regulatory agencies to implement this Act; "(B) discuss the facts supporting such conclusions; and "(C) contain the institution's rating and a statement describing the basis for the rating. "(2) ASSIGNED RATING. —The institution's rating referred to in paragraph (I)(C) shall be 1 of the following: "(A) 'Outstanding record of meeting community credit needs'. "(B) 'Satisfactory record of meeting community credit needs'. "(C) 'Needs to improve record of meeting community credit needs'. "(D) 'Substantial noncompliance in meeting community credit needs'. Such ratings shall be disclosed to the public on and after July 1, 1990. "(c) (DONFIDENTIAL SECTION OP REPORT.— "(1) PRIVACY OF NAMED INDIVIDUALS. — The confidential sec- tion of the written evaluation shall contain all references that identify any customer of the institution, any employee or officer of the institution, or any person or organization that has pro- vided information in confidence to a Federal or State depository institutions regulatory agency. "(2) TOPICS NOT SUITABLE FOR DISCLOSURE. —The confidential section shall also contain any statements obtained or made by the appropriate Federal depository institutions regulatory agency in the course of an examination which, in the judgment of the agency, are too sensitive or speculative in nature to disclose to the institution or the public. "(3) DISCLOSURE TO DEPOSITORY INSTITUTION.— The confidential section may be disclosed, in whole or part, to the institution, if