228 loan - An Overview
228 loan - An Overview
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The Board publishes on its community Web-site, at the least thirty times in advance of the beginning of every calendar quarter, a listing of banks scheduled for CRA examinations for the following two quarters.
The Board testimonials the influence and responsiveness of a bank's community development loans and Group progress investments that reward or provide a facility-centered evaluation location, as supplied in § 228.fifteen.
A financial institution subject matter to this portion could ask for the Board verify that a loan, expenditure, or assistance is suitable for Local community advancement consideration by publishing a ask for to, and in a format prescribed by, the Board.
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The Retail Lending Check evaluates a lender's report of helping to satisfy the credit score requires of its complete Local community through the financial institution's origination and buy of auto loans In the event the lender is really a the greater part automobile lender.
suggests the period, normally in calendar years, in the course of which a lender done the routines the Board evaluates in a very CRA assessment, in accordance Using the Board's pointers and procedures.
The Board may possibly change a minimal intent lender's establishment score from “Satisfactory” to “Remarkable” where by a lender requests and gets supplemental thing to consider for services that would qualify underneath the Group Progress Products and services Exam in § 228.25.
To get a designation for a confined objective bank, a bank need to file a published ask for with the Board a minimum of 90 days prior to the proposed successful date from the designation.
Apart from as or else offered In this particular portion, a lender will have to make sure its general public file contains the data expected by this part for each 228 loan from the previous a few calendar yrs, with The latest calendar yr A part of its file on a yearly basis by April one of the current calendar 12 months.
Pursuant to § 228.28 and appendix C to this component, the Board assigns conclusions to get a lender's Group Enhancement Products and services Take a look at general performance in Each individual facility-dependent assessment area, Each individual Condition or multistate MSA, as applicable, and for that institution.
The Board evaluates a limited objective financial institution's Neighborhood growth financing performance during the nationwide location, pursuant to § 228.19, and assigns a conclusion for the establishment based on the Board's consideration of the following two parts: