The FDIC today issued its monthly list of state nonmember banks
recently evaluated for compliance with the Community Reinvestment Act
(CRA). The list covers evaluation ratings that became available in
March 1998.
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 from the FDIC's Office of
Corporate Communications Public Information Center, located at 801
17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or
(703) 562-2200).
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
Public Information Center.
March List of Banks Examined for CRA Compliance