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#2184660 - 07/09/18 10:56 PM Women and/or Minority Owned Business
Mel in WA Offline
Diamond Poster
Joined: Mar 2013
Posts: 1,266
We are a large bank for CRA. Do loans to women and/or minority owned business automatically qualify for community development?

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#2184662 - 07/09/18 11:14 PM Re: Women and/or Minority Owned Business Mel in WA
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
No, they do not. The loan purpose itself must have a community development purpose which has nothing to do with race or ethnicity of the business owner.
_________________________
CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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