WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 3

12 U.S.C. 338a: Investments to promote public welfare and community development; limitation on investments

Created in 1992 by Public Law 102-485. Changed by 5 later laws. 1 bill in this Congress would change it; 1 new law this Congress changed it.

This Congress

  • H.R. 6644 21st Century ROAD to Housing Act · became law · changed (23)
  • S. 2296 National Defense Authorization Act for Fiscal Year 2026 · passed senate · would change (23)

How it got here

2008

  • Pub. L. 110–289, which directed substitution of "is designed primarily to promote the public welfare, including the welfare of" for "promotes the public welfare by benefitting primarily" in first sentence, was executed by making the substitution for "promotes the public welfare by benefiting primar… (Housing and Economic Recovery Act of 2008) Law text

2006

  • Pub. L. 109–351 amended section generally. Prior to amendment, section read as follows: "State member banks may make investments designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families (such as by providing housing, services, or jo… (Financial Services Regulatory Relief Act of 2006) Law text
  • Pub. L. 109–173, in fourth sentence, substituted "Deposit Insurance Fund" for "affected deposit insurance fund". (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text
  • Pub. L. 109–171 repealed Pub. L. 104–208, §2704(d)(8). See 1996 Amendment note below. (Deficit Reduction Act of 2005) Law text

1996

  • Pub. L. 104—208, §2704(d)(8), which directed the amendment of the fourth sentence by substituting "Deposit Insurance Fund" for "affected deposit insurance fund", was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above. (Deficit Reduction Act of 2005) Law text

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.