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FDIC Issues List of Banks Examined for CRA Compliance

Deniz Kılınç / İstanbul, May 7 (DHA) 07.05.2018 09:16
FDIC Issues List of Banks Examined for CRA Compliance

The Federal Deposit Corporation (FDIC) had issued its list of stake nonmember banks that recently evaluated for compliance with the Community Reinvestment Act (CRA).

The list covers evaluation ratings that the FDIC assigned to institutions in February 2018.

The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination on or after July 1, 1990.

A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be obtained at www.fdic.gov or from the FDIC's Public Information Center.

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