Interagency Q&A .29(b) – 1: What consideration is given to comments from interested parties in reviewing an application?

Compliance > Regulation BB - CRA
Q:  § __.29(b) – 1: What consideration is given to comments from interested parties in reviewing an application?
 
A:  Materials relating to CRA performance received during the application process can provide valuable information.  Written comments, which may express either support for or opposition to the application, are made a part of the record in accordance with the Agencies’ procedures, and are carefully considered in making the Agencies’ decisions.  Comments should be supported by facts about the applicant’s performance and should be as specific as possible in explaining the basis for supporting or opposing the application.  These comments must be submitted within the time limits provided under the Agencies’ procedures.
 
 
 
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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