Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments

1 organizations filed 1 public comment on Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments, at the Office of the Comptroller of the Currency. The comment window closed 6530d ago.

Abstract

On July 30, 2008, the Housing and Economic Recovery Act of 2008 (HERA) was enacted into law. Section 2503 of the HERA (part of the Foreclosure Prevention Act of 2008) revises national banks’ community development investment authority under 12 U.S.C. 24(Eleventh) to permit investments in additional communities, including distressed middle-income communities, that will help revitalize and stabilize communities affected by rising foreclosures. This interim final rule implements the changes made to section 24(Eleventh) by the HERA.

Commenters (1)

• American Bankers Associationtrade assoc.

  1 filing · confidence 97%