FDIC ISSUES MAY LIST OF BANKS EXAMINED FOR CRA COMPLIANCE
FOR IMMEDIATE RELEASE PR-72-96 (9-6-96)
Media Contact: Motty Bradshaw (202) 898-8680
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 1996.
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 Public Information Center,
located at 801 17th Street, N.W., Room 100, Washington, D.C.
20434 ((703) 562-2200).
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 Public Information Center.
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.
FDIC press releases and other information are available on the Internet
via the World Wide Web at www.fdic.gov or through Gopher at gopher.fdic.