§ 346.1. Purpose and scope of this part.

227 words·~1 min read·/us/cfr/t12/s§ 346.1·

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(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 nonmember insured banks;

(2)Subsidiaries of state nonmember insured banks;

(3)Nongovernmental entities or persons that enter into covered agreements with any company listed in paragraphs (b)(1), (2),

(4)and

(5)of this section.

(4)State savings associations; and

(5)Subsidiaries of State savings associations.

(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.) or the FDIC's Community Reinvestment regulation found at 12 CFR part 345, or the FDIC'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.

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