Interagency Q&A .43(a)(2) – 1: May an institution include a response to its CRA performance evaluation in its public file?

Compliance > Regulation BB - CRA
Q:  § __.43(a)(2) – 1: May an institution include a response to its CRA performance evaluation in its public file?
 
A:  Yes.  However, the format and content of the evaluation, as transmitted by the supervisory Agency, may not be altered or abridged in any manner.  In addition, an institution that received a less than satisfactory rating during it most recent examination must include in its public file a description of its current efforts to improve its performance in helping to meet the credit needs of its entire community.  See 12 CFR __.43(b)(5).  The institution must update the description on a quarterly basis.
 
 
 
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
 

Add Feedback