Was a bank able to attribute CD lending originated/purchased outside of the AA or in another state to a one of its MSA/AA in different state or region? I was approached by a senior executive who insisted that in the [distant CRA] past (20-25 years ago) his bank received credit for loans obtained from an out-of-state bank that the regulators gave them for in a different AA in a different state. I’m ready for my history lesson. Was this kind of activity permissible under the original rules when CRA was governed under the pre-1995 multiple test rules?
I've been involved in CRA for a number of years, fully understand the loans for additional consideration principle, and know that this question has been consistently NO. Despite my objections, and protestations to the contrary, he is adamant that I should be able to do this today.