Comptroller of the Currency August 11, 2008 – Federal Register Recent Federal Regulation Documents

Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments
Document Number: E8-18410
Type: Rule
Date: 2008-08-11
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Comptroller of the Currency
On July 30, 2008, the President signed into law the Housing and Economic Recovery Act of 2008 (HERA). Section 2503 of the HERA revises the community development investment authority in 12 U.S.C. 24(Eleventh) to permit a national bank to make a broader range of investments designed primarily to promote the public welfare. This interim final rule implements the changes made to section 24(Eleventh) by the HERA.