{"identifier":"/us/usc/t12/s2907","title":12,"num":"\u00a7\u202f2907.","heading":"Operation of branch facilities by minorities and women","text":"\u00a7\u202f2907.\nOperation of branch facilities by minorities and women\n(a)\nIn general\nIn the case of any depository institution which donates, sells on favorable terms (as determined by the appropriate Federal financial supervisory agency), or makes available on a rent-free basis any branch of such institution which is located in any predominantly minority neighborhood to any minority depository institution or women\u2019s depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity may be a factor in determining whether the depository institution is meeting the credit needs of the institution\u2019s community for purposes of this chapter.\n(b)\nDefinitions\nFor purposes of this section\u2014\n(1)\nMinority depository institution\nThe term \u201cminority institution\u201d\n(A) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and\n(B) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals.\n(2)\nWomen\u2019s depository institution\nThe term \u201cwomen\u2019s depository institution\u201d means a depository institution (as defined in\n(A) more than 50 percent of the ownership or control of which is held by 1 or more women;\n(B) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and\n(C) a significant percentage of senior management positions of which are held by women.\n(3)\nMinority\nThe term \u201cminority\u201d has the meaning given to such term by section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.","url":"https://projectusc.org/usc/t12/s2907.html","content":[{"t":"sec","id":"/us/usc/t12/s2907","children":[{"t":"num","text":"\u00a7\u202f2907."},{"t":"heading","text":"Operation of branch facilities by minorities and women"},{"t":"subsec","id":"/us/usc/t12/s2907/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"In the case of any depository institution which donates, sells on favorable terms (as determined by the appropriate Federal financial supervisory agency), or makes available on a rent-free basis any branch of such institution which is located in any predominantly minority neighborhood to any minority depository institution or women\u2019s depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity may be a factor in determining whether the depository institution is meeting the credit needs of the institution\u2019s community for purposes of this chapter.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s2907/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Definitions"},{"t":"chapeau","text":"For purposes of this section\u2014"},{"t":"para","id":"/us/usc/t12/s2907/b/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Minority depository institution"},{"t":"chapeau","text":"The term \u201cminority institution\u201d\u202f","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSo in original. Probably should be \u201cminority depository institution\u201d."},{"t":"text","text":"\u202fSo in original. Probably should be \u201cminority depository institution\u201d.","tail":" means a depository institution (as defined in "},{"t":"ref","text":"section 1813(c) of this title","href":"/us/usc/t12/s1813/c","tail":")\u2014"}]},{"t":"subpara","id":"/us/usc/t12/s2907/b/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s2907/b/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s2907/b/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Women\u2019s depository institution"},{"t":"chapeau","text":"The term \u201cwomen\u2019s depository institution\u201d means a depository institution (as defined in ","children":[{"t":"ref","text":"section 1813(c) of this title","href":"/us/usc/t12/s1813/c","tail":")\u2014"}]},{"t":"subpara","id":"/us/usc/t12/s2907/b/2/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" more than 50 percent of the ownership or control of which is held by 1 or more women;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s2907/b/2/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" more than 50 percent of the net profit or loss of which accrues to 1 or more women; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s2907/b/2/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" a significant percentage of senior management positions of which are held by women.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s2907/b/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Minority"},{"t":"content","children":[{"t":"p","text":"The term \u201cminority\u201d has the meaning given to such term by section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}