108 STAT. 2238 PUBLIC LAW 103-325—SEPT. 23, 1994 12 USC 1831t note. 12 USC 4801 note. Reports. 12 USC 4801 note. 12 USC 4807. "(I) FIRST NOTICE.— Make the transmission described in clause (i) via first class mail not later than September 12, 1994. "(11) SECOND NOTICE.—Make a second transmission described in clause (i) via first class mail not less than 30 days and not more than 45 days after a transmission to the depositor in accordance with subclause (I), if the institution has not, by the date of such mailing, received from the depositor a card referred to in clause (i) which has been signed by the depositor. "(Ill) THIRD NOTICE.— Make a third transmission described in clause (i) via first class mail not less than 30 days and not more than 45 days after a transmission to the depositor in accordance with subclause (II), if the institution has not, by the date of such mailing, received from the depositor a card referred to in clause (i) which has been signed by the depositor.". (b) EFFECTIVE DATE.— Section 43(b)(3) of the Federal Deposit Insurance Act, as amended by subsection (a), shall take effect in accordance with section 151(a)(2)(D) of the Federal Deposit Insurance Corporation Improvement Act of 1991. SEC. 341. FEASIBILITY STUDY OF DATA BANK. (a) IN GENERAL.— Not later than 18 months after the date of enactment of this Act, the Federal Financial Institutions Examination Council shall— (1) study the feasibility, including the costs and benefits to insured depository institutions, of establishing and maintaining a data bank for reports submitted by any depository institution to a Federal banking agency; and (2) report the results of such study to the Congress. (b) ADDITIONAL FACTORS.—The study required under subsection (a) shall consider the feasibility of— (1) permitting depository institutions to file reports directly with the data bank; and (2) permitting Federal banking agencies. State bank supervisors, and the public to obtain access to any appropriate report on file with the data bank which such agency or supervisor or the public is otherwise authorized to receive. SEC. 342. TIMELY COMPLETION OF CRA REVIEW. The comprehensive regulatory review of the Community Reinvestment Act of 1977 that, as of the date of enactment of this Act, is being conducted by the Federal banking agencies, shall be completed at the earliest practicable time. SEC. 343. TIME LIMIT ON AGENCY CONSIDERATION OF COMPLETED APPLICATIONS. (a) IN GENERAL.— Each Federal banking agency shall take final action on any application to the agency before the end of the 1-year period beginning on the date on which a completed application is received by the agency. (b) WAIVER BY APPLICANT AUTHORIZED.— Any person submitting an application to a Federal banking agency may waive the applicability of subsection (a) with respect to such application at any time.
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