(1) DOMESTIC BRANCH.-The term "domestic branch" means any branch office or other facility of a regulated financial institution that accepts deposits, located in any State.

(2) METROPOLITAN AREA.-The term "metropolitan area" means any primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area, as defined by the Director of the Office of Management and Budget, with a population of 250,000 or more, and any other area designated as such by the appropriate Federal financial supervisory agency.

(3) STATE. The term "State" has the same meaning as in section 3 of the Federal Deposit Insurance Act.

SEC. 808. [12 U.S.C. 2907] OPERATION OF BRANCH FACILITIES BY MINORITIES AND WOMEN.

(a) IN GENERAL.-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's 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's community for purposes of this title.

(b) DEFINITIONS.-For purposes of this section_

(1) MINORITY DEPOSITORY INSTITUTION.-The term "minority institution" means a depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)

(A) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and

(B) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals.

(2) WOMEN'S DEPOSITORY INSTITUTION.-The term "women's depository institution" means a depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)

(A) more than 50 percent of the ownership or control of which is held by 1 or more women;

(B) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and

(C) a significant percentage of senior management positions of which are held by women.

(3) MINORITY.-The term "minority" has the meaning given to such term by section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.

ADJUSTABLE RATE MORTGAGE CAPS

EXCERPT FROM COMPETITIVE EQUALITY BANKING ACT OF 1987

[Public Law 100-86; 100 Stat. 662; 12 U.S.C. 3806]

SEC. 1204. [12 U.S.C. 3806] ADJUSTABLE RATE MORTGAGE CAPS.

(a) IN GENERAL.-Any adjustable rate mortgage loan originated by a creditor shall include a limitation on the maximum interest rate that may apply during the term of the mortgage loan.

(b) REGULATIONS.-The Board of Governors of the Federal Reserve System shall prescribe regulations to carry out the purposes of this section.

(c) ENFORCEMENT.-Any violation of this section shall be treated as a violation of the Truth in Lending Act and shall be subject to administrative enforcement under section 108 or civil damages under section 130 of such Act, or both.

(d) DEFINITIONS.-For the purpose of this section

(1) the term "creditor" means a person who regularly extends credit for personal, family, or household purposes; and

(2) the term "adjustable rate mortgage loan" means any consumer loan secured by a lien on a one- to four-family dwelling unit, including a condominium unit, cooperative housing unit, or mobile home, where the loan is made pursuant to an agreement under which the creditor may, from time to time, adjust the rate of interest.

(e) EFFECTIVE DATE.-This section shall take effect upon the expiration of 120 days after the date of enactment of this Act.1

1 The date of enactment was August 10, 1987.

RECOMMENDED POLICY ON RADON

EXCERPT FROM STEWART B. MCKINNEY HOMELESS ASSISTANCE AMENDMENTS ACT OF 1988

[Public Law 100-628; 102 Stat. 3283; 15 U.S.C. 2661 note]

SEC. 1091. [15 U.S.C. 2661 note] REPORT ON RECOMMENDED POLICY FOR DEALING WITH RADON IN ASSISTED HOUSING.

(a) PURPOSES.-The purposes of this section are—

(1) to require the Department of Housing and Urban Development to develop an effective departmental policy for dealing with radon contamination that utilizes any Environmental Protection Agency guidelines and standards to ensure that occupants of housing covered by this section are not exposed to hazardous levels of radon; and

(2) to require the Department of Housing and Urban Development to assist the Environmental Protection Agency in reducing radon contamination.

(b) PROGRAM.—

(1) APPLICABILITY.-The housing covered by this section is

(A) multifamily housing owned by the Department of Housing and Urban Development;

(B) public housing and Indian housing assisted under the United States Housing Act of 1937;

(C) housing receiving project-based assistance under section 8 of the United States Housing Act of 1937;

(D) housing assisted under section 236 of the National Housing Act; and

(E) housing assisted under section 221(d)(3) of the National Housing Act.

(2) IN GENERAL.-The Secretary of Housing and Urban Development shall develop and recommend to the Congress a policy for dealing with radon contamination that specifies programs for education, research, testing, and mitigation of radon hazards in housing covered by this section.

(3) STANDARDS.-In developing the policy, the Secretary shall utilize any guidelines, information, or standards established by the Environmental Protection Agency for

(A) testing residential and nonresidential structures for radon;

(B) identifying elevated radon levels;

(C) identifying when remedial actions should be taken; and

(D) identifying geographical areas that are likely to have elevated levels of radon.

(4) COORDINATION.-In developing the policy, the Secretary shall coordinate the efforts of the Department of Housing and

Urban Development with the Environmental Protection Agency, and other appropriate Federal agencies, and shall consult with State and local governments, the housing industry, consumer groups, health organizations, appropriate professional organizations, and other appropriate experts.

(5) REPORT.—The Secretary shall submit a report to the Congress within 1 year after the date of the enactment of this Act that describes the Secretary's recommended policy for dealing with radon contamination and the Secretary's reasons for recommending such policy. The report shall include an estimate of the housing covered by this section that is likely to have hazardous levels of radon.

(c) COOPERATION WITH ENVIRONMENTAL PROTECTION AGENCY.-Within 6 months after the date of the enactment of this Act, the Secretary and the Administrator of the Environmental Protection Agency shall enter into a memorandum of understanding describing the Secretary's plan to assist the Administrator in carrying out the Environmental Protection Agency's authority to assess the extent of radon contamination in the United States and assist in the development of measures to avoid and reduce radon contamination.1

(d) DEFINITIONS.-For purposes of this section:

(1) ADMINISTRATOR.-The term "Administrator" means the Administrator of the Environmental Protection Agency.

(2) SECRETARY.-The term "Secretary" means the Secretary of Housing and Urban Development.

(e) AUTHORIZATION.-Funds available for housing covered by this section shall be available to carry out this section with respect to such housing.

For authority of EPA, see title III of the Toxic Substances Control Act (15 U.S.C. 266: seq.), as added by Pub. L. 100-551.

SEISMIC SAFETY PROPERTY STANDARDS

EXCERPT FROM CRANSTON-GONZALEZ NATIONAL AFFORDABLE HOUSING ACT

[Public Law 101-625; 104 Stat. 4416; 42 U.S.C. 7704a]

SEC. 947. [42 U.S.C. 7704a] REPORT ON SEISMIC SAFETY PROPERTY STANDARDS.

(a) AUTHORITY.-The Secretary of Housing and Urban Development (in this section referred to as the "Secretary") shall assess the risk of earthquake-related damage to properties assisted under programs administered by the Secretary and shall develop seismic safety standards for such properties. This section may not be construed to prohibit the Secretary from deferring to local building codes that meet the requirements of the seismic safety standards. developed under this section.

(b) STANDARDS.-The standards shall be designed to reduce the risk of loss of life to building occupants to the maximum extent feasible and to reduce the risk of shake-related property damage to the maximum extent practicable.

(c) CONSULTATION.-In carrying out this section, the Secretary shall consult with the Director of the Federal Emergency Management Agency and may utilize the resources under the National Earthquake Hazards Reduction Program (established under the Earthquake Hazards Reduction Act of 1977) and any other reSources as may be required to carry out the activities under this section.

(d) REPORTS.

(1) SUBMISSION AND CONTENTS.-This Secretary shall submit a report to the Congress, not less than biennially, containing a statement of the findings of the risk assessment study conducted under this section, including risk assessment of properties located in seismic risk zones and a compilation of the standards developed pursuant to this section. The report shall also include a statement of the activities undertaken by the Secretary to carry out this section and the amount and sources of any funds expended by the Secretary for such purposes. The report shall also include a statement of the activities undertaken by the Secretary to carry out the requirements of Executive Order No. 12699 (January 5, 1990) and the amount and sources of any funds expended by the Secretary for such purposes.

(2) INITIAL SUBMISSION.-The first report required under this subsection shall be submitted not later than the expiration of the 18-month period beginning on the date of the enactment of this Act.1

'The date of enactment was November 28, 1990.