|
|
Under the Community Reinvestment Act, a bank may submit a request to its primary federal
regulator to be designated a wholesale bank or a limited purpose bank. Such banks are evaluated
for performance under standards found at 12 CFR 228.25. The regulation offers the following
definitions:
- Wholesale bank - A bank that is not in the business of extending home mortgage, small
business, small farm, or consumer loans to retail customers and for which a designation
as a wholesale bank is in effect.
- Limited purpose bank - A bank that offers only a narrow product line (such as credit
card or motor vehicle loans) to a regional or broader market and for which a designation
as a limited purpose bank is in effect.
The following banks have been designated as wholesale or limited purpose banks
by the Federal Reserve:
|