Reporting and Disclosure Requirements Associated with Regulation G

The Gramm-Leach-Bliley Act (GLBA) amended the Federal Deposit Insurance Act (FDI Act) by adding a new section 48, entitled “CRA Sunshine Requirements.” Section 48 imposes disclosure and reporting requirements on IDIs, their affiliates, and nongovernmental entities or persons (NGEP) that enter into written agreements that (1) are made in fulfillment of the Community Reinvestment Act of 1977 (CRA) and (2) involve funds or other resources of an IDI or affiliate with an aggregate value of more than $10,000 in a year, or loans with an aggregate principal value of more than $50,000 in a year. Section 48 excludes from the disclosure and reporting requirements any CRA-related agreement between an IDI or its affiliate, on the one hand, and an NGEP, on the other hand, if the NGEP has not contacted the IDI, its affiliate, or a Federal banking agency concerning the CRA performance of the IDI. The GLBA directed the Board, as well as the other federal banking agencies, to issue consistent and comparable regulations to implement the requirements of section 48 of the FDI Act. In 2001, the agencies promulgated substantially identical regulations, which interpret the scope of written agreements that are subject to the statute and implement the disclosure and reporting requirements of section 48. The Board’s Regulation G implements the provisions of the GLBA requiring both IDIs and NGEPs to make a copy of any covered agreement available to the public and the appropriate Federal banking agency, and to file an annual report with each appropriate Federal banking agency regarding the use of funds under such agreement for that fiscal year. In addition, each calendar quarter, an IDI and its affiliates must provide to the appropriate Federal banking agency a list of all covered agreements entered into during that quarter or a copy of the covered agreements.

The latest form for Reporting and Disclosure Requirements Associated with Regulation G expires 2022-11-30 and can be found here.

Reporting Section 207.6(d)(1)(i) IDI and affiliates Copy of agreements to agency

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