Background and Summary of Regulation G

Regulation G implements the Community Reinvestment Act (CRA) sunshine provisions added by section 711 of the Gramm-Leach-Bliley Act (Pub. L. No. 106-102, 113 Stat. 1338 (1999)). These provisions, which are contained in section 48 of the Federal Deposit Insurance Act (12 USC 1831y), require parties to certain agreements that are in fulfillment of the CRA to make the agreements available to the public and the appropriate agency and to file annual reports concerning the agreements with the appropriate agency. Section 48 applies to written agreements that—

Section 48 does not, however, cover any agreement with a nongovernmental entity or person that has not had a CRA contact with an insured depository institution or affiliate or a banking agency, such as agreements entered into by entities or persons that solicit charitable contributions or other funds without regard to the CRA. Under section 48, the parties to a covered agreement must make the agreement available to the public and the appropriate agency. The parties also must file a report annually with the appropriate agency concerning the disbursement, receipt, and use of funds or other resources under the agreement.

Regulation G identifies the types of written agreements that are covered by the statute (referred to as covered agreements), defines many of the terms used in the statute, describes how the parties to a covered agreement must make the agreement available to the public and the appropriate agencies, and explains the type of information that must be included in the annual report filed by a party to a covered agreement.