Reading Room Document

Authority of the Federal Financial Supervisory Agencies Under the Community Reinvestment Act

The federal financial supervisory agencies lack authority under the Community Reinvestment Act of 1977 to provide by regulation that financial institutions that do not meet the credit needs of their communities may be subject to administrative enforcement actions under 12 U S.C. § 1818. The OLC does not provide release dates for its opinions, so the release date listed is the date on which the opinion was authored. The original opinion is available at www.justice.gov/file/20271/download.

December 15, 1994