Highlights:
- The federal banking and thrift agencies have adopted the attached final Interagency
Questions and Answers Regarding Community Reinvestment, which interpret the agencies'
CRA regulations. The final Questions and Answers include nine new questions and answers and
substantive changes to 14 existing questions and answers proposed in 2007.
- The new and revised Questions and Answers encourage financial institutions to
participate in foreclosure prevention programs with the objective of providing affordable,
sustainable, long-term loan restructurings or modifications for homeowners facing foreclosure on
their primary residences.
- The Questions and Answers also address activities undertaken by a majority-owned
financial institution in cooperation with a minority- or women-owned financial institution or a
low-income credit union.
- The Questions and Answers consolidate and supersede all previously published CRA
Interagency Questions and Answers.
- The agencies also have proposed for comment one new and two revised questions and answers.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officers
CRA Officers
Compliance Officers
Related Topics:
Community Reinvestment Act
Attachments:
PR-3-2009, Joint Release/Issuance of Final Interagency
Questions and Answers on Community Reinvestment
Community Reinvestment Act: Interagency Questions
and
Answers Regarding Community Reinvestment - Notice and
Request for Comment - PDF (PDF Help)
Contacts:
Deirdre Foley, Senior Policy Analyst, Compliance Policy
Section, dfoley@fdic.gov or (202) 898-6612; or Susan van
den Toorn, Counsel, svandentoorn@fdic.gov or (202)
898-
8707.
Note:
FDIC financial institution letters (FILs) may be accessed from
the FDIC's Web site at
www.fdic.gov/news/news/financial/2009/index.html.
To receive FILs electronically, please visit
http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters may be
obtained through the FDIC's Public Information Center, 3501
Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342
or 703-562-2200).
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