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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 4701 Findings and purposes us united_states_code code_section 12 BANKS AND BANKING 47 COMMUNITY DEVELOPMENT BANKING 4701 12 U.S.C. § 4701 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s4701 data/legal/raw/us/code/title-12/usc12.xml f917d61f0c5902840aea97fd78b970769d3d89a9d1462616d2d95ddd0a54357c e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa d88087c29b505e22a231612416f1ec72498eefa066b80e65d5732db99259d2ee 2026-07-04 official
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12 U.S.C. § 4701 - Findings and purposes

Text

(a) Findings The Congress finds that—

(1) many of the Nations urban, rural, and Native American communities face critical social and economic problems arising in part from the lack of economic growth, people living in poverty, and the lack of employment and other opportunities;

(2) the restoration and maintenance of the economies of these communities will require coordinated development strategies, intensive supportive services, and increased access to equity investments and loans for development activities, including investment in businesses, housing, commercial real estate, human development, and other activities that promote the long-term economic and social viability of the community; and

(3) community development financial institutions have proven their ability to identify and respond to community needs for equity investments, loans, and development services.

(b) Purpose The purpose of this subchapter is to create a Community Development Financial Institutions Fund to promote economic revitalization and community development through investment in and assistance to community development financial institutions, including enhancing the liquidity of community development financial institutions.

(Pub. L. 103325, title I, § 102, Sept. 23, 1994, 108 Stat. 2163.)

Notes

Editorial Notes

References in TextThis subchapter, referred to in subsec. (b), was in original “this subtitle”, meaning subtitle A of title I of Pub. L. 103325, Sept. 23, 1994, 108 Stat. 2163, which is classified principally to this subchapter. For complete classification of this subtitle to the Code, see Short Title note below and Tables.

Statutory Notes and Related Subsidiaries

Short TitlePub. L. 103325, § 1(a), Sept. 23, 1994, 108 Stat. 2160, provided that: “This Act [see Tables for classification] may be cited as the Riegle Community Development and Regulatory Improvement Act of 1994.” Pub. L. 103325, title I, § 101, Sept. 23, 1994, 108 Stat. 2163, provided that: “This subtitle [subtitle A (§§ 101121) of title I of Pub. L. 103325, enacting this subchapter and section 1772c1 of this title, amending sections 1766 and 1834a of this title, section 5313 of Title 5, Government Organization and Employees, section 11 of Pub. L. 95452 set out in the Appendix to Title 5, section 657 of Title 18, Crimes and Criminal Procedure, and section 9101 of Title 31, Money and Finance, and enacting provisions set out as a note under section 11 of Pub. L. 95452 set out in the Appendix to Title 5] may be cited as the Community Development Banking and Financial Institutions Act of 1994.”