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Inactive Financial Institution Letters 

Community Reinvestment Act

May 11, 1999


SUBJECT: Rescission of Community Reinvestment Act Policy Statement

The FDIC Board of Directors has rescinded the 1991 Community Reinvestment Act (CRA) Policy Statement on Analyses of Geographic Distribution of Lending. The rescission, which took effect on April 5, 1999, is part of the Corporation’s systematic review of its regulations and written policies under the Riegle Community Development and Regulatory Improvement Act of 1994.

The policy statement became obsolete in 1995 when Part 345 of the FDIC’s rules and regulations (Community Reinvestment) was amended. The policy statement specifically addressed two of the 12 assessment factors in the 1978 CRA regulations. The 12 factors were replaced in 1995 with a more performance-based evaluation process to assess a bank’s record in meeting the credit needs of its community, including low- and moderate-income neighborhoods.

The rescission of the policy statement does not reflect any substantive change in the FDIC’s supervisory view toward insured state nonmember banks’ compliance with the CRA and Part 345.

The policy statement rescission is explained further in the attached Federal Register notice.

For more information, please contact Louise Kotoshirodo, Review Examiner in the Division of Compliance and Consumer Affairs, at (202) 416-2995.


Ronald F. Bieker
Acting Director


Attachment: April 5, 1999, Federal Register, Vol. 64, No. 64, pages 16453-16454HTML PDF
(21 Kb - PDF help or hard copy)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC’s Public Information Center, 801 17th Street, NW, Room100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Last Updated 07/17/1999

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