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TREAS/OCC RIN: 1557-AD12 Publication ID: Spring 2009 
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 investments directly or indirectly, each of which is 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 jobs). The final rule adopts as final the interim final rule that implemented the changes made to section 24(Eleventh) by the HERA. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
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  04/07/2009  74 FR 15657   
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