CRA Public File

Regarding availability of the public file, Reg BB states:

"(c) Location of public information. A bank shall make available to the public for inspection upon request and at no cost the information required in this section as follows:
(1) At the main office and, if an interstate bank, at one branch office in each state, all information in the public file; and
(2) At each branch:
(i) A copy of the public section of the bank's most recent CRA Performance Evaluation and a list of services provided by the branch; and
(ii) Within five calendar days of the request, all the information in the public file relating to the assessment area in which the branch is located.

(d) Copies. Upon request, a bank shall provide copies, either on paper or in another form acceptable to the person making the request, of the information in its public file. The bank may charge a reasonable fee not to exceed the cost of copying and mailing (if applicable). "

Branch staff must know where the public file is in the branch (even if it is online) in case anyone asks to see the information that must be made available upon request (latest evaluation and list of services). All bank staff needs to know who to notify if a request is received for the info that must be immediately available in the branch or the information that must be made available within five calendar days of request or any other public file information. It is best to have a centralized area respond to those requests.

First published on BankersOnline.com 8/02/10