Section 1 Short title
This Act may be cited as the “Transparency in Lending Act of 2022”.
Transparency in Lending Act of 2022
A BILL
To amend the Community Reinvestment Act of 1977 to require that appropriate Federal financial supervisory agencies make publicly available updates with respect to examinations of covered financial institutions, and for other purposes.
Sec. 2 Reports required during examination of covered financial institutions
Section 804 of the Community Reinvestment Act of 1977 (12 U.S.C. 2903) is amended by adding at the end the following:
“(e) Reports required during examination of covered financial institutions
“(1) In general—In connection with its examination of a covered financial institution, the appropriate Federal financial supervisory agency shall, not less than 2 years after the date on which the examination of the financial institution begins, and every 2 years thereafter until the examination is completed, submit to the Council a report that includes the following:
“(A) An estimated timeline with respect to the completion of the examination.
“(B) Any findings related to the examination made during the preceding 24-month period.
“(C) A summary of the elements of the examination that, at the time of the report, are completed.
“(D) A summary of the elements of the examination that, at the time of the report, are not completed.
“(2) Publication—The Council shall make each report submitted under paragraph (1) publicly available on the interagency CRA rating search website of the Council.
“(3) Definitions—In this subsection:
“(A) Council—The term Council means the Financial Institutions Examination Council established by section 1004(a) of the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3303).
“(B) Covered financial institution—The term covered financial institution means a financial institution with aggregate assets of greater than $250,000,000,000.”