The 2-Minute Rule for 228 loan
The 2-Minute Rule for 228 loan
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The Board evaluates a financial institution's department availability and expert services in a facility-dependent assessment location determined by the next:
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(i) The retail lending wants of its facility-dependent evaluation areas, retail lending evaluation locations, and outdoors retail lending location which might be lined by the prepare. A financial institution that originates or buys loans in an item line evaluated pursuant for the Retail Lending Exam in § 228.
A financial institution that been given a below “Satisfactory” establishment rating in the course of its most recent examination have to include in its public file a description of its present initiatives to boost its effectiveness in helping to satisfy the credit rating requirements of its complete Group.
The Board considers the branch availability and solutions delivered at branches of banks that work one or more branches pursuant to paragraph (b)(two) of the portion.
(B) The performance in the check here financial institution's devices for offering retail banking products and services and The supply and responsiveness of the bank's retail banking goods, pursuant to § 228.23, as applicable;
If an intermediate bank opts being evaluated pursuant for the Group Progress Financing Take a look at in § 228.24, the Board evaluates the intermediate bank with the evaluation period preceding the financial institution's subsequent CRA assessment pursuant into the Neighborhood Enhancement Financing Test in § 228.24 and carries on evaluations pursuant to this performance check for subsequent evaluation intervals until eventually the lender opts out.
(e) Details on community development loans and Group advancement investments by a consortium or simply a third party.
In the course of the expression of a strategy, a financial institution may well ask for the Board to approve an amendment into the approach in the absence of a material modify in instances.
(A) A replica of the public portion on the bank's most up-to-date CRA effectiveness evaluation and a listing of services supplied by the department; and
For residence mortgage loan loans, the bank must detect the home mortgage loans claimed by its operations subsidiary under 12 CFR part 1003, if applicable, or obtain and keep information on household house loan loans by its functions subsidiary that the financial institution would've gathered and preserved pursuant to paragraph (a)(three) of the area had the bank originated or obtained the loans.
A financial institution will have to retain a general public file, in possibly paper or electronic format, that includes the next details:
A bank will have to keep a public file, in both paper or electronic format, that includes the subsequent info: