12 U.S.C. § 4713: Incentives for depository institution participation

the Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]) and the National Credit Union Administration; the individuals named pursuant to clauses (ii) and (iv) of section 4703(d)(2)(G) of this title ; and any other representatives of insured depository institutions or other persons as the Administrator may determine to be appropriate. section 233 of the Bank Enterprise Act of 1991 [ 12 U.S.C. 1834a ] shall be applicable to the Administrator, for purposes of this section, in the same manner and to the same extent that such section is applicable to the Community Enterprise Assessment Credit Board; have all powers and rights of the Community Enterprise Assessment Credit Board under section 233 of the Bank Enterprise Act of 1991 to administer and enforce any provision of such section 233 which is applicable to the Administrator under this section; and shall be subject to the same duties and restrictions imposed on the Community Enterprise Assessment Credit Board; and have all powers and rights of an appropriate Federal banking agency under section 233(b)(2) of the Bank Enterprise Act of 1991 [ 12 U.S.C. 1834a(b)(2) ] to approve or disapprove the designation of qualified distressed communities for purposes of this section and provide information and assistance with respect to any such designation; and shall be subject to the same duties imposed on the appropriate Federal banking agencies under such section 233(b)(2). The Administrator shall determine the amount of assessment credits, and shall make awards of those credits. The Administrator may prescribe such regulations and issue such guidelines as the Administrator determines to be appropriate to carry out this section. Notwithstanding paragraphs (1) through (4) of this subsection, subsections (a)(1) and (e)(2) of section 233 of the Bank Enterprise Act of 1991 [ 12 U.S.C. 1834a(a)(1) , (e)(2)], and any other provision of the Federal Deposit Insurance Act [ 12 U.S.C. 1811 et seq.] relating to the Bank Enterprise Act of 1991, do not apply to the Administrator for purposes of this subchapter. In applying section 233 of the Bank Enterprise Act of 1991 [ 12 U.S.C. 1834a ] for purposes of this section, the Administrator shall treat the provision of new lifeline accounts by an insured depository institution as an activity which is qualified to be taken into account under section 233(a)(2)(A) of such Act. For the purpose of this subchapter, section 233(a)(3) of the Bank Enterprise Act of 1991 ( 12 U.S.C. 1834a(a)(3) ) shall be applied by substituting the following text: 5 percent of the sum of the amounts determined under such subparagraph, in the case of an institution which is not a community development financial institution; or 15 percent of the sum of the amounts determined under such subparagraph, in the case of an institution which is a community development financial institution; and with respect to qualifying activities described in paragraph (2)(C), 15 percent of the amounts determined under such subparagraph.” substituting “institutions which are community development financial institutions” for “institutions which meet the community development organization requirements under section 234 [ 12 U.S.C. 1834b ]”; and substituting “institutions which are not community development financial institutions” for “institutions which do not meet such requirements”. Section 233(b)(2) of the Bank Enterprise Act of 1991 [ 12 U.S.C. 1834a(b)(2) ] shall be applied for purposes of this section without regard to subparagraph (A)(ii) of such section 233(b)(2). The Administrator may, in the Administrator’s discretion, apply section 233 of the Bank Enterprise Act of 1991 for purposes of this section by providing community enterprise assessment credits with respect to annual periods rather than semiannual periods. The Administrator shall ensure that information about the Bank Enterprise Act of 1991 under this section is widely disseminated to all interested parties. For the purpose of this subchapter, section 233(a)(2)(A) of the Bank Enterprise Act of 1991 shall be applied by inserting “of the increase” after “the amount”.