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Community Reinvestment Act (CRA)
Strategic Plans
The CRA regulation contains an option for banks called the "strategic plan". This option allows an institution to develop a plan with the community input detailing how the institution proposes to meet its CRA obligation. The plan is tailored to the needs of the community using direct community input at the development stage. The institution informally seeks suggestions from the public while developing the plan and once developed it must publish notice of the plan and solicit written public comment for at least 30 days. After the comment period, the institution submits the plan to its regulator for review and approval.
The following banks have had their strategic plan approved:
Bank name (RSSD ID Number)
Bank location
Effective date
Reserve Bank
Silicon Valley Bank (#802866)
Santa Clara, CA
July 1, 2002
San Francisco
The CRA regulation contains an option for banks called the "strategic plan". This option allows an institution to develop a plan with the community input detailing how the institution proposes to meet its CRA obligation. The plan is tailored to the needs of the community using direct community input at the development stage. The institution informally seeks suggestions from the public while developing the plan and once developed it must publish notice of the plan and solicit written public comment for at least 30 days. After the comment period, the institution submits the plan to its regulator for review and approval.
The following banks have had their strategic plan approved:
| Bank name (RSSD ID Number) | Bank location | Effective date | Reserve Bank |
|---|---|---|---|
| Silicon Valley Bank (#802866) | Santa Clara, CA | July 1, 2002 | San Francisco |
Last update:
May 31, 2011
