D.C. Mun. Regs. tit. 26, r. 26-C100

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 26-C100 - PURPOSE

100.1

The purpose of these rules shall be as follows:

(a) To provide for the organizing, chartering, and regulating of financial institutions organized to do business in the District of Columbia and to facilitate the expansion of financial services for District residents, including residents of underserved and low- and moderate-income areas;

(b) To promote and maintain an economic climate and regulatory framework that will encourage persons to organize District banks;

(c) To establish standards and guidelines in order to ensure that all financial institutions subject to the Commissioner's authority, including all banks and bank holding companies seeking to enter the District to do business or to expand the scope of their activities within the District, provide financial services in the following manner:

(1) To foster the development and revitalization of housing and commercial corridors in underserved neighborhoods in the District;

(2) To help meet the credit and deposit service needs of lower income and minority residents of the District; and

(3) To expand financial and technical support for small, minority, and woman-owned businesses.

D.C. Mun. Regs. tit. 26, r. 26-C100

Final Rulemaking published at 35 DCR 6276-6277 (August 19, 1988)