REVISED Press Release (19 May 1997)
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 October 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
(800-276-6003 or (703) 562-2200). Also, you may set your WWW browser
for http://www.fdic.gov/regulations/community/monthly/1996/craocr96.html
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 11,452 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.gov, and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).
