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FDIC Consumer News - Spring 1998

Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

FDIC Enhances Access to Community Reinvestment Reports on the Internet
The FDIC has a new Internet service giving the public quick and easy access to Community Reinvestment Act (CRA) evaluations for the approximately 6,000 banks supervised by the agency. The CRA requires federal regulators to assess and rate an institution’s record of helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound lending. The regulators also are required to make public each institution’s CRA rating and the detailed performance evaluation that led to the rating.

With the new Internet service, you can quickly obtain the latest rating for a single bank or a group of banks by keying in certain information. You can, for example, search for the CRA ratings of all the FDIC-supervised banks headquartered in your city or state. You also can obtain CRA performance evaluations dating back to 1996.

To get the FDIC’s CRA ratings and evaluations on the Internet, go to www.fdic.gov/publish, then click on “Community Reinvestment Act” followed by “Automated CRA Ratings Search.” Questions may be e-mailed  or directed to the FDIC’s Division of Compliance and Consumer Affairs at (800) 934-3342. To get to the other agencies’ evaluations on the Internet, go to www.ffiec.gov/cra/info.

If you don’t have access to the Internet, you can get a copy of an institution’s CRA evaluation directly from that institution or its primary federal regulator. You may be charged a nominal fee. For a copy of CRA information from the FDIC, please mail or fax a request to our Public Information Center. Names and addresses for other federal regulators are on the For More Information page.

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Last Updated 08/03/1999 communications@fdic.gov