FDIC Issues November List of Banks Examined for CRA Compliance
November 04, 2005, The Federal Deposit Insurance Corporation (FDIC) today issued its monthly list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in August 2005. 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 FDICís Public Information Center, located at 801 17th Street, NW, Room 100, Washington, DC 20434 (877-275-3342 or 202-416-6940), or via the Internet at www.fdic.gov.
A copy of an individual bankís CRA evaluation is available directly from the bank, which is required by law to make the material available upon request, or from the FDICís Public Information Center.
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Attachment: The November 2005 List of Banks Examined for CRA Compliance
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nationís banking system. The FDIC insures deposits at the nationís 8,868 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. The FDIC receives no federal tax dollars Ė insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDICís Public Information Center (877-275-3342 or 202-416-6940). PR-109-2005
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