I 111th CONGRESS 2d Session H. R. 5038 IN THE HOUSE OF REPRESENTATIVES April 15, 2010 Mr. Hensarling (for himself and Mr. Bachus) introduced the following bill; which was referred to the Committee on Financial Services A BILL To repeal the Community Reinvestment Act of 1977.

1.

Short title

This Act may be cited as the Fair Access to Credit and Job Creation Act of 2010.

2.

Repeal of the Community Reinvestment Act of 1977

(a)

In general

The Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) is hereby repealed. (b)

Conforming amendment

Section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y) is hereby repealed.