FDIC COVID Consumer 4 – Eligible CRA Activities. Does delivering food and stocking shelves count during the COVID-19 crisis?

Compliance > COVID & Pandemic-Related
Q:   Eligible CRA Activities. Does delivering food and stocking shelves count during the COVID-19 crisis?
 
A:   The CRA Statement discusses categories and examples of activities related to COVID-19 that will be given consideration under the CRA. One of the examples provided in FIL-19-2020 for consideration as a community development activity is investment or service activities that support provision of food supplies and services for low- and moderate-income individuals or communities. The donation of food to support LMI individuals, such as through a food bank, would fall within the qualified investment category. Volunteer hours to help at a food bank that are not financial-related are not considered community development services.
 
 
This Q&A was contained in the Frequently Asked Questions for Financial Institutions Affected by the Coronavirus Disease 2019 (Referred to as COVID-19) – As of March 3, 2021 (which may be updated from time to time).  This may be found on the FDIC’s website here:  https://www.fdic.gov/Coronavirus/faq-fi.pdf.
 

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