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The FDIC today issued its monthly list of state nonmember banks
recently evaluated for compliance with the Community Reinvestment Act
(CRA). The list covers the month of September, 1994. 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. In 1989, as
part of the Financial Institutions Reform, Recovery, and Enforcement
Act (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
from the FDIC's Office of Corporate Communications at 550
Seventeenth Street, N.W., Washington, D.C. 20429. A copy of an
individual bank's CRA evaluation is available directly from the bank,
which is required by law to make the material available upon request, or
from the FDIC's Office of Corporate Communications at:
FDIC 550 17th St. NW Washington, DC 20429 (202) 898-6996
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