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

Activity

American Bankers Association filed 1 comment on this docket between Sep 30, 2008 and Sep 30, 2008. 0 other organizations filed here. The comment window closed 6530d ago.

What American Bankers Association filed (1)

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.

• American Bankers AssociationTHIS ORG

  1 filing · confidence 97%