Federal Banking Agencies Issue Amended Regulation Implementing CRA
Since the enactment of the Community Reinvestment Act (CRA) in 1977, the subject of how it should be implemented has been much debated. Prior to this year, all the federal agencies had uniform CRA regulations, but the Office of Thrift Supervision (OTS) recently finalized its own revisions to its reg...
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| Veröffentlicht in: | Community Banker 2005-10, Vol.14 (10), p.96 |
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| description | Since the enactment of the Community Reinvestment Act (CRA) in 1977, the subject of how it should be implemented has been much debated. Prior to this year, all the federal agencies had uniform CRA regulations, but the Office of Thrift Supervision (OTS) recently finalized its own revisions to its regulation that implements CRA. The definition of a "small savings association" was amended to be a savings association with less than $1 billion in assets. For OTS-regulated institutions, any association with less than $1 billion in assets will not have to collect and report small business and farm data, and will be able to be examined using the current streamlined small institution examination. A final change that is applicable to all banks, except those that are savings associations regulated by the OTS, is a revision to the regulation that addresses the impact on the bank's CRA ratings of evidence of discrimination or other illegal credit practices. |
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| ispartof | Community Banker, 2005-10, Vol.14 (10), p.96 |
| issn | 1529-1332 |
| language | eng |
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| source | EBSCOhost Business Source Complete |
| subjects | Amendments Bank compliance Bank examinations Bank examiners Banking industry Community banks Community development Community Reinvestment Act 1977-US Regulation of financial institutions Rural areas Savings & loan associations Small business |
| title | Federal Banking Agencies Issue Amended Regulation Implementing CRA |
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