The FDIC today issued its monthly list of state nonmember
banks recently evaluated for compliance with the Community
Reinvestment Act (CRA). The list covers the month of March 1996.
The CRA is a 1977 law intended to encourage insured banks
and thrifts to meet local credit needs, including those of
low- and moderate-income neighborhoods, consistent with safe and
sound operations. As part of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated
the public disclosure of an evaluation and rating for each bank
or thrift that undergoes a CRA examination on or after July 1,
1990.
A consolidated list of all state nonmember banks whose
evaluations have been made publicly available since July 1, 1990,
including the rating for each bank, can be obtained from the
FDIC's Office of Corporate Communications Public Information
Center, located at 801 17th Street, N.W., Room 100, Washington,
D.C. 20434 ((703) 562-2200).
A copy of an individual bank's CRA evaluation is available
directly from the bank, which is required by law to make the
material available upon request, or from the FDIC's Office of
Corporate Communications Public Information Center.
Congress created the Federal Deposit Insurance Corporation in
1933 to restore public confidence in the nation's banking system.
The FDIC insures deposits at the nation's 12,000 banks and
savings associations and it promotes the safety and soundness of
these institutions by identifying, monitoring and addressing
risks to which they are exposed.
FDIC press releases and other information are available on the
Internet via the World Wide Web at www.fdic.gov or through Gopher
at gopher.fdic.gov.
