---
kind: "section"
citation: "12 U.S.C. § 4715"
title: "12"
title_heading: "Banks and Banking"
number: "4715"
heading: "Special provisions with respect to institutions that are supervised by Federal banking agencies"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4715"
units:
  - "Chapter 47 — Community Development Banking"
  - "Subchapter I — Community Development Banking and Financial Institutions"
---

# §4715. Special provisions with respect to institutions that are supervised by Federal banking agencies

- (a) **Consultation with appropriate agencies—** The [Fund](/usc/12/4702.md?p=10) shall consult with and consider the views of the [appropriate Federal banking agency](/usc/12/4702.md?p=2) prior to providing assistance under this subchapter to—
  - (1) an [insured community development financial institution](/usc/12/4702.md?p=13);
  - (2) any [community development financial institution](/usc/12/4702.md?p=5-A) that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2); or
  - (3) any [community development financial institution](/usc/12/4702.md?p=5-A) that has as its [community partner](/usc/12/4702.md?p=6) an institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2).
- (b) **Requests for information, reports, or records—**
  - (1) **In general—** Except as provided in [paragraph (4)](#b-4), notwithstanding any other provisions of this subchapter, prior to directly requesting information from or imposing reporting or recordkeeping requirements on an [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2), the [Fund](/usc/12/4702.md?p=10) shall consult with the [appropriate Federal banking agency](/usc/12/4702.md?p=2) to determine if the information requested is available from or may be obtained by such agency in the form, format, or detail required by the [Fund](/usc/12/4702.md?p=10).
  - (2) **Timing of response from appropriate Federal banking agency—** If the information, reports, or records requested by the [Fund](/usc/12/4702.md?p=10) pursuant to [paragraph (1)](#b-1) are not provided by the [appropriate Federal banking agency](/usc/12/4702.md?p=2) in less than 15 calendar days after the date on which the material is requested, the [Fund](/usc/12/4702.md?p=10) may request the information from or impose the recordkeeping or reporting requirements directly on such institutions with notice to the [appropriate Federal banking agency](/usc/12/4702.md?p=2).
  - (3) **Elimination of duplicative information and reporting requirements—** The [Fund](/usc/12/4702.md?p=10) shall use any information provided the [appropriate Federal banking agency](/usc/12/4702.md?p=2) under this section to the extent practicable to eliminate duplicative requests for information and reports from, and recordkeeping by an [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2).
  - (4) **Exception—** Notwithstanding paragraphs [(1)](#b-1) and [(2)](#b-2), the [Fund](/usc/12/4702.md?p=10) may require an [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2) to provide information with respect to the institution’s implementation of its strategic plan or compliance with the terms of its assistance agreement under this subchapter, after providing notice to the [appropriate Federal banking agency](/usc/12/4702.md?p=2).
- (c) **Exclusion for examination reports—** Nothing in this section shall be construed to permit the [Fund](/usc/12/4702.md?p=10) to require an [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2), to obtain, maintain, or furnish an examination report of any [appropriate Federal banking agency](/usc/12/4702.md?p=2) or records contained in or related to such a report.
- (d) **Sharing of information—** The [Fund](/usc/12/4702.md?p=10) and the [appropriate Federal banking agency](/usc/12/4702.md?p=2) shall promptly notify each other of material concerns about an [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2), and share appropriate information relating to such concerns.
- (e) **Disclosure prohibited—** Neither the [Fund](/usc/12/4702.md?p=10) nor the [appropriate Federal banking agency](/usc/12/4702.md?p=2) shall disclose confidential information obtained pursuant to this section from any party without the written consent of that party.
- (f) **Privilege maintained—** The [Fund](/usc/12/4702.md?p=10), the [appropriate Federal banking agency](/usc/12/4702.md?p=2), and any other party providing information under this section shall not be deemed to have waived any privilege applicable to any information or data, or any portion thereof, by providing such information or data to the other party or by permitting such data or information, or any copies or portions thereof, to be used by the other party.
- (g) **Exceptions—** Nothing in this section shall authorize the [Fund](/usc/12/4702.md?p=10) or the [appropriate Federal banking agency](/usc/12/4702.md?p=2) to withhold information from the Congress or prevent it from complying with a request for information from a Federal department or agency in compliance with applicable law.
- (h) **Sanctions—**
  - (1) **Notification—** The [Fund](/usc/12/4702.md?p=10) shall notify the [appropriate Federal banking agency](/usc/12/4702.md?p=2) before imposing any sanction pursuant to the authority in [section 4707(f)(2)(C) of this title](/usc/12/4707.md?p=f-2-C) on an [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of that agency.
  - (2) **Exceptions—** The [Fund](/usc/12/4702.md?p=10) shall not impose a sanction referred to in [paragraph (1)](#h-1) if the [appropriate Federal banking agency](/usc/12/4702.md?p=2), in writing, not later than 30 calendar days after receiving notice from the [Fund](/usc/12/4702.md?p=10)—
    - (A) objects to the proposed sanction;
    - (B) determines that the sanction would—
      - (i) have a material adverse effect on the safety and soundness of the institution; or
      - (ii) impede or interfere with an enforcement action against that institution by that agency;
    - (C) proposes a comparable alternative action; and
    - (D) specifically explains—
      - (i) the basis for the determination under [subparagraph (B)](#h-2-B) and, if appropriate, provides documentation to support the determination; and
      - (ii) how the alternative action suggested pursuant to [subparagraph (C)](#h-2-C) would be as effective as the sanction proposed by the [Fund](/usc/12/4702.md?p=10) in securing compliance with this subchapter and deterring future noncompliance.
- (i) **Safety and soundness considerations—** The [Fund](/usc/12/4702.md?p=10) and each [appropriate Federal banking agency](/usc/12/4702.md?p=2) shall cooperate and respond to requests from each other and from other [appropriate Federal banking agencies](/usc/12/4702.md?p=2) in a manner that ensures the safety and soundness of the [insured community development financial institution](/usc/12/4702.md?p=13) or other institution that is examined by or subject to the reporting requirements of an [appropriate Federal banking agency](/usc/12/4702.md?p=2).

## Source credit

(Pub. L. 103–325, title I, § 116, Sept. 23, 1994, 108 Stat. 2185.)