GEOGRAPHICAL GUIDELINES FOR COMMUNITY CREDIT UNIONS.

SEC. 103. GEOGRAPHICAL GUIDELINES FOR COMMUNITY CREDIT UNIONS. Section 109 of the Federal Credit Union Act (12 U.S.C. 1759) is amended by adding at the end the following new subsection: “(g) Regulations Required for Community Credit Unions.— 112 STAT. 918 “(1) Definition of well-defined local community, neighborhood, or rural district.—The Board shall prescribe, by regulation, a definition for the term ‘well-defined local community, neighborhood, or rural district’ for purposes of— “(A) making any determination with regard to the field of membership of a credit union described in subsection (b)(3); and “(B) establishing the criteria applicable with respect to any such determination. “(2) Scope of application—The definition prescribed by the Board under paragraph (1) shall apply with respect to any application to form a new credit union, or to alter or expand the field of membership of an existing credit union, that is filed with the Board after the date of enactment of the Credit Union Membership Access Act.”.