Interagency Q&A .42(b)(2) – 5: Should institutions collect and report data about community development loans that are refinanced or renewed?

Compliance > Regulation BB - CRA
Q:  § __.42(b)(2) – 5: Should institutions collect and report data about community development loans that are refinanced or renewed?
 
A:  Yes.  Institutions should collect information about community development loans that they refinance or renew as loan originations.  Community development loan refinancings and renewals are subject to the reporting limitations that apply to refinancings and renewals of small business and small farm loans.  See Q&A § __.42(a) – 5.
 
 
 
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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