FDIC ISSUES AUGUST LIST OF BANKS EXAMINED FOR CRA COMPLIANCE
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 August 1995.
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 at the address below.
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 550 17th Street, Washington D.C. 20429
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 12,000 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.