Skip Header

Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Financial Institution Letters

FIL-7-2018
January 25, 2018

CRA Consideration for Community Development Activities in the U.S. Virgin Islands and Puerto Rico Following Hurricane Maria

Printable Format:

FIL-7-2018 - PDF (PDF Help)

Summary:

The FDIC generally encourages depository institutions to consider all reasonable and prudent steps to assist their customers and other residents in communities affected by natural disasters. In furtherance of this goal, the FDIC, in coordination with the Federal Reserve Board of Governors (FRB) and Office of the Comptroller of the Currency (OCC), is issuing a statement to clarify that a financial institution located outside the U.S. Virgin Islands and Puerto Rico, designated as disaster areas, will receive consideration for community development activities that revitalize or stabilize these areas, as long as the institution has been responsive to the community development needs and opportunities of its assessment area(s).

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

Distribution:

Suggested Routing:

Attachment:

Contact:

Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at https://www.fdic.gov/news/news/financial/2018/.

To receive FILs electronically, please visit https://www.fdic.gov/about/subscriptions/fil.html.

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

Skip Footer back to content