CRA File and its Contents

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Question:

Do banks still have to maintain a CRA file? The statement is posted in main lobby and branch. If we need to have a file, what do we to have in it?

Answer:

Banks are required to maintain a CRA Public File. The requirements for contents are detailed here.The contents can vary depending upon whether the bank is a small bank as defined by CRA, a HMDA reporter, maintains branches in more than one state, or requests to have loans other than small business/small farm considered in its CRA examination. Additionally, the bank can include other information it wishes to include in the public file.

First published on BankersOnline.com 7/19/10