FDIC ISSUES MAY LIST OF BANKS EXAMINED FOR COMMUNITY REINVESTMENT
FOR IMMEDIATE RELEASE
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 May 1994.
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. In 1989, as part of the Financial Institutions Reform, Recovery, and Enforcement Act (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 at 550 Seventeenth Street, N.W., Washington, D.C. 20429.
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 at the address below.