Interagency Q&A .27(c) – 1: To what extent will the Agencies provide guidance to an institution during the development of its strategic plan?

Compliance > Regulation BB - CRA
Q:  § __.27(c) – 1: To what extent will the Agencies provide guidance to an institution during the development of its strategic plan?
 
A:  An institution will have an opportunity to consult with and provide information to the Agencies on a proposed strategic plan.  Through this process, an institution is provided guidance on procedures and on the information necessary to ensure a complete submission.  For example, the Agencies will provide guidance on whether the level of detail as set out in the proposed plan would be sufficient to permit Agency evaluation of the plan.  However, the Agencies’ guidance during plan development and, particularly, prior to the public comment period, will not include commenting on the merits of a proposed strategic plan or on the adequacy of measurable goals.
 
 
 
This Interagency Q&A, and others, was released in July 2016.  The 2016 Q&As consolidates and supersedes all previously published “Interagency Questions and Answers Regarding Community Reinvestment,” and were noted as being effective immediately.  They may be found here:  http://www.ffiec.gov/cra/qnadoc.htm
 
 

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