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implies, notwithstanding the definition of “modest farm” With this section, a loan A part of “loans to small farms” as described in Routine RC-C of the Call Report.
The Board considers evidence of discriminatory or other illegal credit practices explained Within this section by:
suggests a staffed banking facility, regardless of whether shared or unshared, the Board permitted or approved as being a department and that's open to, and accepts deposits from, the general public.
(3) Advantages or serves a number of geographic parts with minimal amounts of Group progress funding;
indicates the period, generally in calendar decades, through which a financial institution conducted the activities the Board evaluates inside a CRA assessment, in accordance Along with the Board's suggestions and methods.
Federal Immediate Additionally Loans are loans that graduate students and fogeys of dependent undergraduate pupils can use that will help pay out for college. Furthermore loans will help pay for instruction expenses not included by other money help.
(1) Establishes the framework and criteria by which the Board assesses a financial institution's file of responding towards the credit requires of its whole Neighborhood, such as very low- and average-money neighborhoods, in step get more info with the Harmless and seem Procedure with the lender; and
) For the military services bank, publishing detect in a minimum of just one print newspaper of typical circulation specific to users from the navy (if out there, or else a digital publication focused to associates on the military services); and
If a bank proven once-a-year measurable ambitions and doesn't meet up with one or more of its satisfactory ambitions, the Board will think about the next factors to find out the impact on a bank's CRA effectiveness analysis:
Over the time period of the plan, a bank should submit for the Board for approval an amendment to its program if a fabric adjust in situation:
In thinking about CRA efficiency within an application explained in paragraph (a) of this section, the Board usually takes into account any views expressed by fascinated events which are submitted in accordance with the Board's Regulations of Process established forth in twelve CFR part 262.
usually means an organization built to provide, in impact, being a independently incorporated Division with the lender, carrying out, at areas at which the lender is licensed to engage in enterprise, features the financial institution is empowered to accomplish straight.