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TREAS/OCC RIN: 1557-AD12 Publication ID: Fall 2008 
Title: ●Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments 
Abstract: On July 30, 2008, the Housing and Economic Recovery Act of 2008 (HERA) was enacted into law. Section 2503 of the HERA (part of the Foreclosure Prevention Act of 2008) revises national banksÂ’ community development investment authority under 12 U.S.C. 24 (Eleventh) to permit national banks and their subsidiaries to make public welfare investments directly or indirectly if the investments primarily benefit low- and moderate-income areas, or other areas targeted by a governmental entity for redevelopment or if the investment would receive consideration under the part 25 CRA regulations as a "qualified investment." This interim final rule implements the changes made to section 24 (Eleventh) by the HERA. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 24   
Legal Authority: 12 USC 24 (Eleventh)    12 USC 93a    12 USC 481    12 USC 1818   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  08/11/2008  73 FR 46532   
Interim Final Rule Effective  08/11/2008    
Interim Final Rule Comment Period End  09/10/2008    
Final Action  02/00/2009    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Patrick T. Tierney
Counsel
Department of the Treasury
Comptroller of the Currency
Legislative and Regulatory Activities Division, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6291
Email: patrick.tierney@occ.treas.gov