Title 26 — Banks and Other Financial Institutions.
22 chapters · 372 sections in this title.
D.C. Code § 26-431.01 Short title
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This chapter may be cited as the “Community Development Act of 2000”.
D.C. Code § 26-431.02 Definitions
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For the purposes of this chapter, the term: (1) “CFO” means the Chief Financial Officer of the District of Columbia, established by § 1-204.24a. (1A) “Community development” means: (A) Affordable housing (including single-family and multi-family rental housing and homeownership) …
D.C. Code § 26-431.03 Community needs obligation
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A financial institution shall have a continuing and affirmative obligation to meet the credit needs of its local communities, including low-income and moderate-income area, consistent with the safe and sound operation of the financial institution.
D.C. Code § 26-431.04 Community development plan requirement
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(a)(1) A financial institution shall submit a community development plan stating the financial institution’s plans for meeting the credit and financial services needs of the residents of the District, particularly in designated development areas. A financial institution shall sub…
D.C. Code § 26-431.05 Monitoring compliance with the community development plan
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(a) The Commissioner shall monitor whether a financial institution is satisfying its continuing and affirmative obligation to meet the credit needs of its local communities, including low-income and moderate-income areas, consistent with safe and sound operation of the financial …
D.C. Code § 26-431.06 Rating system for community development performance
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(a) The Commissioner shall establish, by regulation, a system to rate the community development performance of a financial institution. The system shall include the following rating categories: (1) Outstanding record of performance in meeting the credit needs of its local communi…
D.C. Code § 26-431.07 Examinations in cooperation with other regulators
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(a) The Commissioner may enter into cooperative agreements with financial institutions regulators in jurisdictions other than the District, including federal regulators, for the coordination of, or joint participation, in a community performance evaluation and the amount and asse…
D.C. Code § 26-431.08 Authority of Commissioner to issue rules and regulations
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The Commissioner may promulgate rules and regulations to implement the provisions of this chapter pursuant to subchapter I to Chapter 5 of Title 2.