How long does it take to maintain basic Community Reinvestment Act records?
The Federal Deposit Insurance Corporation claims it takes banks 2 hours a year to do so.
The American Bankers Association polled fifteen banks and found that, depending on size, they each spend between 20 to 200 hours a year to keep these records up to date.
You might want FDIC to estimate your weight, but you wouldn't want them to figure out your pay!
Copyright © 1990 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 1, No. 12, 12/90
First published on 12/01/1990