(a) General. This part implements section 711 of the Gramm-Leach-Bliley
Act (12 U.S.C. 1831y). That section requires any nongovernmental entity
or person, insured depository institution, or affiliate of an insured
depository institution that enters into a covered agreement to—
(1) make the covered agreement
available to the public and the appropriate federal banking agency;
and
(2) file an annual
report with the appropriate federal banking agency concerning the
covered agreement.
(b) Scope of this part. The provisions of this
part apply to—
(1) state member banks and their subsidiaries;
(2) bank holding companies;
(3) savings and loan holding
companies;
(4) affiliates
of bank holding companies and savings and loan holding companies,
other than banks, savings associations and subsidiaries of banks and
savings associations; and
(5) Nongrovernmental entities or persons that enter into covered
agreements with any company listed in paragraph (b)(1) through (4)
of this section.
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(c) Relation to Community Reinvestment Act. This part does not affect in any way the Community Reinvestment
Act of 1977 (12 U.S.C. 2901 et seq.), the Board’s Regulation
BB (12 CFR 228), or the Board’s interpretations or administration
of that act or regulation.
(d) Examples.
(1) The examples in this part are not exclusive.
Compliance with an example, to the extent applicable, constitutes
compliance with this part.
(2) Examples in a paragraph illustrate
only the issue described in the paragraph and do not illustrate any
other issues that may arise in this part.
