About 228 loan
About 228 loan
Blog Article
The Board assessments the effects and responsiveness in the financial institution's Local community development loans and community progress investments that gain or provide the nationwide region, as delivered in § 228.fifteen.
indicates a bank that's not within the business enterprise of extending closed-end dwelling mortgage loans, tiny company loans, tiny farm loans, or car loans evaluated below § 228.
suggests the efficiency of volunteer providers by a lender's or its affiliate's board members or workforce, performed on behalf with the bank, in which These solutions:
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If a bank recognized once-a-year measurable objectives and won't meet one or more of its satisfactory ambitions, the Board will think about the next components to ascertain the impact on a lender's CRA efficiency evaluation:
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(six) A lender's shut-conclusion dwelling home loan lending, tiny organization lending, smaller farm lending, or vehicle lending in distressed or underserved nonmetropolitan middle-revenue census tracts in which a bank's nonmetropolitan facility-primarily based evaluation space or nonmetropolitan retail lending evaluation spot incorporates not many or no small- and average-cash flow census tracts; and
) Substantial financial institutions that had belongings under or equivalent to $10 billion as of December 31 in possibly in the prior two calendar years and that don't work branches.
A bank or price savings Affiliation's record of functionality may be the foundation for denying or conditioning acceptance of an application detailed in paragraph (a) of this area.
(5) Whether or not the Retail Lending Exam encouraged conclusion here will not accurately replicate the financial institution's performance inside a Retail Lending Test Space during which one or more with the financial institution's significant product strains is made up of much less than thirty loans;
(A) A bank may specify annual measurable objectives for Group progress loans, Neighborhood development investments, or both of those. The lender have to base any yearly measurable goals for a proportion or ratio in the financial institution's community enhancement loans and Local community development investments for all or sure different types of Group growth described in § 228.
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A lender have to preserve a community file, in either paper or digital structure, that includes the next information: