CDARs may provide a new way to place CRA investments. ABA has teamed up with the creators of CDARs to provide certificates of deposit in community development financial institutions. These deposits would be treated as investments for purposes of CRA. You may always place a CD directly into a community development financial institution, however the advantage of the CDARs program is that the deposits are placed to maximize insurance coverage. This provides a manageable and effective option for the smaller "large" banks that must meet the CRA investment test.
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