REIGLE COMMUNITY DEVELOPMENT AND REGULATORY IMPROVEMENT ACT OF 19941 AN ACT To reduce administrative requirements for insured depository institutions to the extent consistent with safe and sound banking practices, to facilitate the establishment of community development financial institutions, and for other pur poses. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS (a) SHORT TITLE.-This Act may be cited as the "Reigle Community Development and Regulatory Improvement Act of 1994". (b) TABLE OF CONTENTS.-The table of contents for this Act is as follows: Sec. 1. Short title, table of contents. TITLE I-COMMUNITY DEVELOPMENT AND CONSUMER PROTECTION Subtitle A-Community Development Banking and Financial Institutions Act Sec. 101. Short title. Sec. 102. Findings and purposes. Sec. 103. Definitions. Sec. 104. Establishment of National Fund for Community Development Banking. Sec. 105. Applications for assistance. Sec. 106. Community partnerships. Sec. 107. Selection of institutions. Sec. 108. Assistance provided by the Fund. Sec. 109. Training Sec. 110. Encouragement of private entities. Sec. 111. Collection and compilation of information. Sec. 112. Investment of receipts and proceeds. Sec. 113. Capitalization assistance to enhance liquidity. Sec. 114. Incentives for depository institution participation. Sec. 115. Recordkeeping Sec. 116. Special provisions with respect to institutions that are supervised by Fed eral banking agencies. Sec. 117. Studies and reports, examination and audit. Sec. 118. Inspector General. Sec. 119. Enforcement. Sec. 120. Community Development Revolving Loan Fund for credit unions. Sec. 121. Authorization of appropriations. Subtitle B-Home Ownership and Equity Protection Note: The Reigle Community Development and Regulatory Improvement Act of 1994 largely amended other Acts. TITLE II-SMALL BUSINESS CAPITAL FORMATION Subtitle A-Small Business Loan Securitization Sec. 201. Short title. Sec. 202. Small business related security. Sec. 203. Applicability of margin requirements. Sec. 204. Borrowing in the course of business. Sec. 205. Small business related securities as collateral. Sec. 206. Investment by depository institutions. Sec. 207. Preemption of State law. Sec. 208. Insured depository institution capital requirements for transfers of small Sec. 209. Joint study on the impact of additional securities based on pooled obliga- Sec. 210. Consistent use of financial terminology. Subtitle B-Small Business Capital Enhancement Sec. 251. Findings and purposes. Sec. 252. Definitions. Sec. 253. Approving States for participation. Sec. 254. Participation agreements. Sec. 255. Terms of participation agreements. Sec. 257. Reimbursement by the Fund. Sec. 258. Reimbursement to the Fund. Sec. 259. Regulations. Sec. 260. Authorization of appropriations. Sec. 261. Effective date. TITLE III-PAPERWORK REDUCTION AND REGULATORY IMPROVEMENT Sec. 301. Incorporated definitions. Sec. 302. Administrative consideration of burden with new regulations. Sec. 303. Streamlining of regulatory requirements. Sec. 304. Elimination of duplicative filings. Sec. 305. Coordinated and unified examinations. Sec. 306. Eighteen-month examination rule for certain small institutions. Sec. 308. Repeal of publication requirements. Sec. 309. Regulatory appeals process, ombudsman, and alternative dispute resolu- tion. Sec. 310. Electronic filing of currency transaction reports. Sec. 311. Bank Secrecy Act publication requirements. Sec. 312. Exemption of business loans from Real Estate Settlement Procedures Act Sec. 313. Flexibility in choosing boards of directors. Sec. 314. Holding company audit requirements. Sec. 315. State regulation of real estate appraisals. Sec. 316. Acceleration of effective date for interaffiliate transactions. Sec. 317. Collateralization of public deposits. Sec. 318. Modification of regulatory provisions. Sec. 319. Expedited procedures. Sec. 320. Exemption of certain holding company formations from registration under Sec. 321. Reduction of post-approval waiting periods for certain acquisitions and mergers. Sec. 322. Bankers' banks. Sec. 323. Bank Service Corporation Act amendment. Sec. 324. Merger transaction reports. Sec. 325. Credit card accounts receivable sales. Sec. 326. Limiting potential liability on foreign accounts. Sec. 327. GAO reports. Sec. 328. Study and report on capital standards and their impact on the economy. Sec. 329. Study on the impact of the payment of interest on reserves. Sec. 330. Study and report on the consumer credit system. Sec. 331. Clarification of provisions relating to administrative autonomy. Sec. 332. Exemption for business accounts. Sec. 333. Study on check-related fraud. |