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FDIC Estimates

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

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