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Community Development Corporation and Project Investments and Other Public Welfare Investments

banking-occ · OCC · Rule · Published 1996-09-23 · Effective 1996-10-23 · 61 FR 49654

Document

Document number
96-23986
Federal Register citation
61 FR 49654
CFR reference
12 CFR 24
Type
Rule
Action
Final rule.
Category
banking-occ
Sub-agency
OCC
Publication date
1996-09-23
Effective date
1996-10-23
Treasury docket
Docket No. 96-21

Abstract

As part of its Regulation Review Program, the Office of the Comptroller of the Currency (OCC) is revising its regulation governing national bank investments designed primarily to promote the public welfare. This final rule clarifies banks' authority; renumbers and reorganizes sections of the regulation; modifies the test for determining whether investments primarily promote the public welfare; and simplifies the regulation's investment self-certification and prior approval processes. This final rule reduces regulatory burden and inconsistencies while enhancing the ability of national banks to make community development and other public welfare investments.

Source

Authoritative
Federal Register document
Machine
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