The FDIC today issued its monthly list of state nonmember banks recently
evaluated for compliance with the Community Reinvestment Act (CRA). The list
covers evaluation ratings that became available in May 1997.
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 (800-276-6003 or (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 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 and
may also be obtained through the
FDIC's Public Information Center (800-276-6003 or (703) 562-2200).
