Title 12 — Banks and BankingRelease 119-73
§2801 Congressional findings and declaration of purpose
Title 12 › Chapter CHAPTER 29— - HOME MORTGAGE DISCLOSURE › § 2801
Summary
Requires collecting and sharing information so the public and government officials can tell if banks and similar lenders are meeting local housing needs. Congress found some lenders hurt neighborhoods by failing to give qualified people fair home loans. The effort must not encourage unsafe lending or bad credit decisions.
Full Legal Text
Title 12, §2801
Banks and Banking — Source: USLM XML via OLRC
(a)The Congress finds that some depository institutions have sometimes contributed to the decline of certain geographic areas by their failure pursuant to their chartering responsibilities to provide adequate home financing to qualified applicants on reasonable terms and conditions.
(b)The purpose of this chapter is to provide the citizens and public officials of the United States with sufficient information to enable them to determine whether depository institutions are filling their obligations to serve the housing needs of the communities and neighborhoods in which they are located and to assist public officials in their determination of the distribution of public sector investments in a manner designed to improve the private investment environment.
(c)Nothing in this chapter is intended to, nor shall it be construed to, encourage unsound lending practices or the allocation of credit.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Short Title
Pub. L. 94–200, title III, § 301, Dec. 31, 1975, 89 Stat. 1125, provided that: “This title [this chapter] may be cited as the ‘Home Mortgage Disclosure Act of 1975’.”
Reference
Citations & Metadata
Citation
12 U.S.C. § 2801
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73