Financial institutions; evaluation

In connection with its examination of a financial institution, the appropriate Federal financial supervisory agency shall— In assessing and taking into account, under subsection (a), the record of a nonminority-owned and nonwomen-owned financial institution, the appropriate Federal financial supervisory agency may consider as a factor capital investment, loan participation, and other ventures undertaken by the institution in cooperation with minority- and women-owned financial institutions and low-income credit unions provided that these activities help meet the credit needs of local communities in which such institutions and credit unions are chartered. An election by a bank holding company to become a financial holding company under section 1843 of this title shall not be effective if— Any insured depository institution acquired by a bank holding company during the 12-month period preceding the date of the submission to the Board of the declaration and certification under section 1843(l)(1)(C) 1 of this title may be excluded for purposes of paragraph (1) during the 12-month period beginning on the date of such acquisition if— For purposes of this subsection, the following definitions shall apply: The terms “bank holding company” and “financial holding company” have the meanings given those terms in section 1841 of this title. The term “Board” means the Board of Governors of the Federal Reserve System. The term “insured depository institution” has the meaning given the term in section 1813(c) of this title. In assessing and taking into account, under subsection (a), the record of a financial institution, the appropriate Federal financial supervisory agency shall consider, as a factor, low-cost education loans provided by the financial institution to low-income borrowers.