S.2487: A bill to increase community development investments by depository institutions, and for other purposes.

A bill to increase community development investments by depository institutions, and for other purposes. 12/14/2007--Introduced. Depository Institution Community Development Investments Enhancement Act - Amends the Home Owners' Loan Act to revise requirements for community development investments by federal savings associations. Authorizes a federal savings association 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 through the provision of housing, services, and jobs (community development investments). Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments. Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person. Requires the Director of the Office of Thrift Supervision [...]

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